Aus pulled this off of bridge.. Looks like its slated for tomorrow!!!!!!
Jesse
--Lexar Media Inc. (LEXR) of Fremont, Calif., a designer, developer and
marketer of products for the digital photography market, plans to offer 6.5
million shares at $10 to $12 each via Chase H & Q, down from 7.5 million at
$11 to $13.
Opinion: Look for a moderate opening.
The company shows great promise, but the industry is still developing.
However, Lexar recently took a hit in a legal wrangle with SanDisk (SNDK) and is
redesigning its product to avoid infringing on the competitor's patent.
Lexar believes it will be able to ship redesigned products prior to the
conclusion of the trial that is currently scheduled to commence on October 23.
Lexar's line of high-performance digital film combines flash memory, a type
of re-programmable memory that doesn't require a constant power source, from
leading suppliers with the company's patented controller technology, to meet the
needs of professional, commercial and consumer photographers.
Lexar's digital film is a removable and reusable storage device that captures
images from a digital camera. The company offers digital film in the four
primary media formats currently used by digital cameras: CompactFlash,
SmartMedia, PC Card and Memory Stick.
The company's digital film is compatible with just about all digital cameras,
including those manufactured by Agfa, Canon, Casio, Epson, Fuji,
Hewlett-Packard, Kodak, Konica, Minolta, Nikon, Olympus, Polaroid, Ricoh, Sony
and Yashica.
Lexar says many professional photographers choose to use its digital film
over other brands. Kodak packages Lexar's branded film with its professional
series cameras and, Lexar says in a press release, professional photographers
have cited the merits of its digital film.
Lexar's digital film reader/writers transfer digital images to a personal
computer and other devices without a direct connection to the digital camera.
The company's new JumpShot cable connects the universal serial bus, or USB, port
to its USB-enabled CompactFlash digital film to quickly and easily transfer
images. It received the 1999 Best of What's New Award from Popular Science and
the Editor's Choice Award from PC Photo.
Lexar holds 27 U.S. patents.
For the six months ended June 30, Lexar reported a net loss of $19.1 million
on revenues of $40.8 million compared with a net loss of $7 million on revenues
of $9.2 million for the same period in 1999.
Despite the legal wrangle with SanDisk, Lexar appears poised to deliver
steady gains in the future. Its strong customer list will attract investors'
attention.
However, SanDisk, Lexar's chief competitor, recently traded at 59 13/16, off
a 52-week high of 169 5/8. This translates into a moderate opening for Lexar,
but keep an eye on the stock because the company looks like it will soon become
a winner. |
