Intermagnetics (IMG) Message Board

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Technology Stocks : Intermagnetics (IMG)

IMG 0.233

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Oct 31 9:30 AM EDT

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To: SemiBull who wrote (3445)	2/6/2002 7:14:32 PM
From: SemiBull	of 3448

Intermagnetics sees 17-20 pct EPS growth LATHAM, N.Y., Feb 6 (Reuters) - Intermagnetics General Corp., a maker of superconducting materials that aid in transmission of electric power, said on Wednesday that it is confident in achieving annual growth of 17 to 20 percent in earnings per share before accounting changes. President and Chief Executive Glenn Epstein said in a statement that the company could achieve this target before giving affect to improvements from an accounting change for amortisation of goodwill and gains on divestitures. The company said it has completed the sale of the helium-related portion of its IGC-APD Cryogenics business for $10 million to Japan's Sumitomo Heavy Industries Ltd. for a nominal gain. The sale also includes a six-year strategic supply agreement under which Intermagnetics will purchase shield coolers it requires internally, primarily for manufacturing superconducting magnet systems for magnetic resonance imaging systems. Last month, Intermagnetics reported an 18 percent increase in operating profits for the second quarter ended Nov. 25, 2001.

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