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Technology Stocks : Identix (IDNX)

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To: Richard Newton who wrote (7484)	4/2/1998 9:30:00 AM
From: Hockeyfan	Read Replies (1) of 26039

Poor April Fool's Day Joke? I wish that it was. Going from a 4 to 6 cent gain to a 1 to 3 cent loss is a complete blow of the quarter by $1.25 to $2.25 million. Business is good. Everyone is busy -- busy losing money. Thoughts and observations- 1) Most companies take their clean up charges in the 4th quarter so analysts can quickly get by the charges and concentrate on the next year. Hopefully, this clears the way for a great 4th quarter. 2) What 2 sizeable orders? Have these been announced yet? I think IDX needs a special line item for "Orders that were supposed to ship last quarter that finally shipped this quarter, really, they did" so we can keep track of all these delayed orders to see if we ever actually get them. 3) This pre-announcement indicates that Randy is taking more time to keep in touch with and provide more guidance to analysts and shareholders, even though this announcement is extremely vague regarding: - the size and type of the contracts moved into 4Q or whether these contracts have already been announced - the amount of annual expenses removed through the streamlining process - whether or not the "low gross margins associated with certain sales to new markets during the quarter" are temporary - whether the company has instituted a forward purchase program to safeguard against taking a bath on international contracts do to currency devaluations 4) We need a phenomenal 4Q to make FY98 look good. One of these days the carryover orders need to get shipped along with the regular orders which get shipped out on time to bring a double-up quarter. I hope that day arrives before Wimpy repays the hamburger he got today. Although I think we are in for some bumps, I also think that the Card Tech Secure Tech Show and the Computer Associates Expo at the end of April will bring some sort of positive announcements from the company. We also have the INS contract announcement that must come someday - hopefully this quarter. Randy is going to face some tough questions at the conference call this month.

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