Bob,
This contract for 148.6 Million was released April 2 and the stock has fallen since the announced secondary.
The secondary was actually a good thing. The float was way too small for institutional interest, and the capital is needed.
This company is not going away.
Quite the opposite. They will be receiving many more orders.
Transportation Security Administration
NEWARK, Calif.--(BUSINESS WIRE)--April 2, 2002--InVision
Technologies, Inc. (Nasdaq:INVN) today announced that the
Transportation Security Administration of the Department of
Transportation (TSA) has ordered 300 explosives detection systems,
consisting of CTX 2500 and CTX 5500DS models, to be built from parts
ordered in March. In addition, the TSA has ordered 100 more components
kits. The TSA agreed to pay InVision $148.6 million for the
manufacture of equipment and the additional component sets.
"We are pleased with this further opportunity to support the TSA's
efforts to meet the requirements of the Aviation and Transportation
Security Act," said Sergio Magistri, Ph.D., InVision's chief executive
officer. "So far this year, the TSA has ordered 400 systems and 100
parts kits from InVision. The TSA has informed us that in addition to
these orders and pending funding, they plan to order additional CTX
2500 and CTX 5500 DS systems"....
Fred |
