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Technology Stocks : Intermagnetics (IMG)

IMG 0.192

-2.5%

Nov 5 3:59 PM EST

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To: Tom Linzmeier who wrote (3191)	11/10/1999 12:51:00 AM
From: Wafa SHIHABI	Read Replies (1) of 3448

Intermagnetics General Corp. Dow Jones Newswires -- November 9, 1999 DJ Intermagnetics Targets 15% A Year Net Growth LATHAM, N.Y. (Dow Jones)--Intermagnetics General Corp. (IMG) is targeting a 10% annual sales growth over the next 12 to 18 months. In a press release Tuesday, the superconducting materials maker said its target for annual earnings growth is 15%. To achieve these goals, Intermagnetics said it will have to maintain gross margins in the high 30s as a percentage of sales, compared with gross margins in the mid-20s to mid-30s of recent years. Intermagnetics General expects revenue and profitability for the second quarter ending Nov. 28 will be higher than the first quarter as well as the year-ago period. For the first quarter ended Aug. 29, the company earned $1.2 million, or 9 cents a diluted share, on sales of $26.8 million. For the second quarter ended Nov. 29, the company reported earnings from continuing operations of $1.2 million, or 9 cents a diluted share, on sales of $26 million. Intermagnetics also said it plans to repurchase an unspecified number of shares in the open market.

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