Doug, I hope you didn't accumulate any IOMT over the last few months.
Friday March 30, 3:41 pm Eastern Time
Isomet sees FY 2001 revs, oper results "materially lower"
SPRINGFIELD, Va., March 30 (Reuters) - Isomet Corp. (NasdaqSC:IOMT - news), which makes laser control devices and equipment for color image reproduction, said on Friday it expects fiscal 2001 revenues and operating results to be ``materially'' lower than fiscal 2000, citing the cancellation of a recent contract and a slowing fiber optics sector.
The company said Feb. 1 that a customer had canceled a contract for laser equipment, with Isomet's maximum exposure totaling $1.9 million.
Isomet said it has also received $2 million in new orders from a fiber optic customer, with the shipments scheduled over a 12-month period.
Shares of the company were down $1-33/64, or 17.8 percent, to $6-63/64 in afternoon trading on the Nasdaq. The shares have a 52-week range from $3-3/4 to $39-1/2.
biz.yahoo.com
On the other hand, they did get some new orders...
Friday March 30, 4:52 pm Eastern Time
Isomet Announces New Orders
FY 2001 Revenue and Earnings to Be Down
SPRINGFIELD, Va., March 30 /PRNewswire/ -- Isomet Corp (Nasdaq: IOMT - news), Springfield, Virginia, announced today that it has received new orders totaling $2.0 million for the production and supply of birefringent materials to a customer in the fiberoptic industry. Shipments against the new orders are scheduled over a twelve (12) month period. This commitment represents the second production quantity customer for our fiberoptics products.
Isomet also announced that due to the following factors, it expects revenues and operating results to be materially lower in FY 2001, as compared with FY 2000:
1. The recent contract termination for systems products.
2. A significant delay in deliveries of birefringent materials against orders received in the fourth quarter of FY 2000.
3. Generally slower industry conditions in the fiberoptics field.
In further news, recently the Company successfully exhibited for the first time at the Optical Fiber Conference held in Anaheim, California (which will also be attended next year). As a result of this participation, the Company's name, products and technology became much better known. Specifically, the interest in Isomet's birefringent products and technology included:
1. Traditional acousto-optic modulators and deflectors, including inquiries for fiberoptic applications.
2. Numerous requests for information about DWDM products and capabilities.
3. Discussions on a wider range of fiberoptic applications. As a result, we are intensifying our R & D efforts and related marketing activities.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, those risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Furthermore, the Company does not intend (and is not obligated) to update publicly any forward-looking statement.
biz.yahoo.com
In any case, I haven't bought back any shares...I was thinking about it, but couldn't justify buying this in the existing market. Now, if it goes back to $3-4 per share, perhaps I should reconsider.
Any thoughts? jbk |
