from briefing .com
Updated: 15-May-98
Quotes at time of story, top stories today: (LCOS 8:25) (NSM 8:55) (ERGO 9:25)
(PVTR 10:55)
11:55 ET ******
IRVINE SENSORS CORP (IRSN) 2 7/8 +15/16. Shares of Costa Mesa, CA-based
Irvine Sensors are benefitting from impeccable timing. Following the more than 150% rally
experienced by Xybernaut (XYBR) shares yesterday, on news the struggling company found
someone to manufacturer its "wearable computer" product, IRSN shares have raced 48%,
after the company announced that it has actually begun selling its product. Even more
impressive, the order is from aircraft giant Boeing Co (BA). According to Irvine Sensors, the
company today received the approximately $1.3 million first phase of an expected
$2.1 mln subcontract from Boeing to develop a computer-in-a-cube using IRSN's
proprietary chip-stacking technology. The cube is being designed to be the core of a wearable
computer system that aims to pack the power of a high-end workstation into a half-pound
device about the size of a deck of cards. The system will utilize hands-free, voice-activated
controls fully integrated with the human body. In the brief period since the news was
announced, IRSN shares have soared as much as much as 65% on volume of 2.49 million
shares, compared to average daily volume of 238,000. According to IRSN, deliveries of its
first stacked-TSOP order, an approximate $400,000 contract announced five months ago,
have begun and are expected to be completed by the end of the current quarter.
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