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Technology Stocks : IMRS A Y2K FIRM SUCCESSFULLY REPOSITIONING ITSELF
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To: paul e thomas who wrote ()11/10/1999 3:13:00 PM
From: Byron Angel   of 188
 
IMRS had its quarterly conference call this morning. To hear a replay, phone 703-925-2435, password # 2218348.

I thought the call went well. Sanan was candid about the problems the company has had in making the transition to its new business model, which will focus on vertical industry solutions in industries such as insurance and financial services which are heavy IT spenders. He feels the transition is now mostly complete. They are building long term strategic relationships with large customers such as John Hancock, American Express, and Target Stores. Companies such as these are $30-40-50 million sales opportunities. IMRS now has the sales force they need and the products customers want. E-commerce, which was zero this time last year, is now 23% of revenue and rising fast. IT consulting, which was negligible this time last year, is now about 20%, and component based solutions is about 25%. Sanan stated he expected the company's growth to pick up after the start of the year, both in Q1 and also in Q2. He stated that he is very bullish on the company and has no plans to sell any more of his shares.

Since I invested in IMRS at around $8 on 9/30/99 I feel that other investors have started to perceive the growth that is ahead for this company next year. I'm up over 50% on this stock but plan to continue to hold as I think the stock still has plenty of upside left.
Byron
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