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Technology Stocks : Intermagnetics (IMG)
IMG 0.185-3.4%12:12 PM EST
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To: Gerald Thomas who wrote (3157)8/11/1999 4:57:00 PM
From: Mark Shaw  Read Replies (2) of 3448
 
I agree, Gerald. The honesty is refreshing but sobering. It's like the doctor who comes in and tells you have a terminal disease. He's being honest with you but that doesn't help you much in the end. I had completely forgotten about the food inspection systems. Another avenue of growth gone. The only businesses left are commodity businesses. OEM's continue to put pressure on IMG year after year to lower prices. I remember a conference call last year when Mike Zeigler made the comment that Philips informed IMG that it was going to make its payments to IMG within 90 days instead of 30 and Zeigler bluntly stated there wasn't anything IMG could do about it. MRI magnets and wire are like room air conditioners and TV's. Check out the stock of any company in a commodity business.
It's usually low priced and has been that way for years. Why? No growth and no prospect of growth. The only way to increase income in a commodity business is to increase volume. The problem with that is that the total market is only so big and to increase volume in the MRI magnet business they will have to win business from competitors such as Oxford Instruments (highly unlikely). My opinion: this stock is dead money for years out. All of the potential growth vehicles are being wiped away one by one.
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