so who is the mystery company?
Amplidyne lands European customer
By Tomi Kilgore, CBS MarketWatch
Last Update: 4:35 PM ET Mar 10, 2000 NewsWatch
Market Pulse
SUNNYVALE, Calif. (CBS.MW) -- Shares of Amplidyne were catapulted higher on Friday after the company said it had secured a multi-million dollar European contract.
Amplidyne (AMPD: news, chart) powered 3, or 35 percent higher, to 11 1/2. Volume was heavy with about 4 million shares changing hands. On a typical day, about 375,000 shares turn over.
The Raritan, N.J.-based company said Friday that it received a purchase order for its high-speed wireless Internet access products from a Central European service provider. Depending on demand, the company could ship between $6.5 million and $13 million worth of goods over the next twelve to eighteen months.
"This event is an example of opportunities for Amplidyne, Inc. in the wireless internet access market," said Devendar Bains, Amplidyne's chairman and CEO. Bains added that "this could be the beginning of many international as well as local business ventures."
Back on Sept. 9, Amplidyne's shares appeared on Wall Street's radar screens when the stock tripled in value. On that day, the company introduced a new set of products to offer high-speed wireless Internet access. |
