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Technology Stocks : Information Management Resources Inc (IMRS)
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To: ThirdEye who wrote (19)4/2/1997 7:22:00 PM
From: ThirdEye   of 24
 
Summary of recent conversation with IR rep Greg Peek:

1. Company has approx. 40 major contracts at the moment for re-engineering and y2k. Each is worth between $5-20 million. Most of these contracts were signed in 1996 or earlier and represent revenues stretching into 1999. They are not primarily focusing on new y2k clients at present since they don't want to occupy their engineers with what is actually fairly boring and not very challenging work of the y2k variety.
2. They are, however, interested in the State of Florida y2k contract, which is estimated to be $140M
3. Not much interested in Federal work because bidding process is protracted, estimates of federal allocation for y2k work fluctuating wildly, can't wait for Congress to get its head on straight.
4. Will be increasing capacity of Bangalore facility
5. Will be opening another international facility by end of Q2.
6. Tool suite is not a translator and they don't advertise simultaneous migration/conversion. Stated this notion is misnomer for what actually goes on. Their tools do permit communication between different parts of systems that are in different stages of re-engineering.
7. Secure satellite communication permits work on same projects 24 hr/day between US and Bangalore facilities because of time difference.
8. UK facility(Link Holdings) has contracts with 20 of Financial Times "100" and Europe is already 12-18 months behind US in addressing y2k issue so business will heat up there.
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