Dow Jones Newswires - February 9, 1998
==============================================================
Topro Stock Up 21%; Awareness Of Year 2000 Glitch Cited
NEW YORK -- A growing recognition of the Year 2000 problem and a feeling that Topro Inc. (TPRO) is well positioned to handle it, pushed the company's shares to a new 52-week high Monday.
Douglas Kelsall, Topro's chief financial officer, said the stock received a boost Monday from the awareness that Year 2000 numeral conversion glitches loom and the company is well positioned to resolve them. "They're waking up and realizing this problem is real," he
said.
An outside Topro spokesman said Topro is unique among companies that provide Year 2000 solutions, because it alone addresses potential problems in computer systems on the factory floor. [Embedded Systems]
"There is nobody competing in their space," he said.
Most other Year 2000 companies, he said, focus on resolving problems in mainframes or financial systems.
Joseph Garner, an analyst with Emerald Research, said Topro's focus on factory floor systems makes it a standout among other Year 2000 companies, which he said are all gaining some strength.
Garner also noted that the company is talking with several large companies about providing Year 2000 solutions.
The company spokesman said Topro may reach agreements for new business soon. "They can happen pretty quickly," he said.
The Venture Returns newsletter reported earlier Monday that Topro may have received a Year 2000 contract from a large chipmaker, which it said "is widely thought to be a contract with Intel."
Kelsall declined to comment on the report, but said Topro is in ongoing discussions with a number of companies. An Intel Corp. (INTC) spokesperson did not immediately return calls seeking comment.
Topro shares finished Monday trading at 8 5/16, up 1 7/16, or 20.9%, on volume of 3.8 million shares. Average daily volume for the small-capitalization shares is 318,500.
Earlier, the shares reached 8 7/16, a new 52-week high.
-Nancy Beiles; 201-938-5393
FYI - Here's what happened over the past 10 days:
Message 3344292
If you want to know MORE about TAVA Technologies, check this out:
Message 2978134
Cheryl |
