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Non-Tech : Integrity Inc (ITGR)

ITGR 66.57

+3.1%

11:34 AM EST

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To: diddlysquatz who wrote (1)	10/26/2001 7:13:54 PM
From: William Harvey	Read Replies (1) of 3

It was disclosed in the 2ndQ01 conference call that ITGR hopes to generate $20 million in publishing revenues annually in 5 or 6 years. Management expects start-up costs of -$0.07 per share in the 2nd half of '01 and -$0.10 for '02, which assumes some initial 4thQ01 sales. This adds up to under $1 million over the next 18 months. Publishing-related capital expenditures are expected to be $100,000 for this year and next. All in all, the upfront costs for this start-up initiative appear low, which limits risk. With a topnotch guy in charge, Integrity Publishers looks like an excellent growth opportunity.

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