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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: John Sikora who wrote (11581)5/17/1998 1:17:00 PM
From: paul e thomas  Read Replies (4) of 13949
 
IMRS GROWTH OBJECTIVE

There is a lengthy interview in a special section of the Tampa Tribune of the top 50 performing SW Florida Companies. IMRS made the list for the first time but is now ranked as the 4th most successful. The article concludes with Satish Sanan saying" We can become a half-billion company in a few years" This goal is consistent with the 3-5 year earnings growth rate of 52 % per year forecast for IMRS by John Mahoney,a Senior Vice President of Raymond James who praises IMRS in the article.In further support of this goal the Manager of e newly formed Fidelity Sector fund SELECT BUSINESSES SERVICES AND OUTSOURCING PORTFOLIO INAN ARTICLE IN "FIDELITY FOCUS" singles out Y2K firms focuses on the opportunities for service companies that can cross sell other services after getting their foot in the door via successful Y2K remediation work. Fidelity does not create new sector funds without very good reasons to believe the markets will grow fast. The META group forecasts outsourceing will grow 20 per year over the next decade.Even if IMRS did not gain market share they will grow to 200 million $ in 5 years. It is not unrealistic to think with their low cost capability that they could increase market share 20% per year which would take them to 500 million $ by 2001.Net earnings of 75 million $ per year is not unrealistic.Even if oustanding shares were to increase 10% per year to 50 million shares in order to provide options to employees the 2001 EPS would be 1.50$.At a PEG of 1.5 and a 40% growth rate a 2001 price target of 90$ is plausible and would return greater than a 50 % per year return from the present price.
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