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Technology Stocks : Identix (IDNX)

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To: Richard Newton who wrote (7484)	4/2/1998 12:02:00 PM
From: David	Read Replies (1) of 26039

3Q announcement . . . . Obviously, bad news here, although I am not fazed by the one-time charges. It is the other stuff that has caused the problem. My guess is that Cook County is one of the two large orders delayed until next quarter -- it's been announced as in the bag, and it hasn't booked. I don't think IDX could be referring to the INS here (or any others in that category), since there's no sign of a contract award there. The lower margin reference re: new markets could be Asia -- we were wondering how an Indonesian sale could go through given the drastic devaluation of that currency -- or it could be some BAT activity finally showing up as revenues. We'll have to see. I expect we will see continuing strength in base TP-600 sales, especially off the GSA schedule. Where else is a year to year revenue increase going to come from? But I wouldn't be surprised to see a quarter to quarter revenue slip due to those two missing orders. If I had extra money, I'd be a buyer here, since the basic good story has not changed at all, although the stock price has dropped significantly.

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