Not to Shabby today !!
CFO was very comfortable when analysts asked him if he thought $1.50 per share in 1999 was attainable, So when I read $1.77 at their own website link I figured what the heck, they are planning a big year in 99. GO MEDTRONIC !!!! Also, this may have something to do with today's jump:
Paravant Computer Systems Receives $4.1
Million Purchase Order From Medtronic
Business Wire - June 24, 1998 08:30
%PARAVANT-COMPUTER-SYSTEMS PVAT MDT %FLORIDA %COMED %COMPUTERS
%ELECTRONICS %MEDICINE %AEROSPACE %DEFENSE %BANKING
%BIOTECHNOLOGY V%BW P%BW
MELBOURNE, Fla.--(BW HealthWire)--June 24, 1998--Paravant Computer
Systems, Inc. (NASDAQ National Market: PVAT (Common Stock), PVATW
(Warrants)) today announced that it has received a $4.1 million purchase order from
Medtronic, Inc. (NYSE:MDT), covering Paravant's first year's production of
Programmer Computer Subassemblies.
The purchase order is part of the multi-year $17 million Supply Agreement,
previously announced on April 1, 1997, which calls for Paravant to design, develop
and manufacture a Programmer Computer Subassembly. The programmers will be
used to program Medtronic's implantable infusion pumps and neurological electrical
stimulators at the point of surgery, and reprogram them after they have been
implanted into patients. Paravant expects to ship the majority of the programmers
covered under this order during the fiscal year ended September 30, 1999.
Richard P. McNeight, President and Chief Operating Officer of Paravant,
commented, "We are pleased with the cooperation and coordination that took place
between Medtronic and Paravant during this recent design process. At Paravant, we
are proud of the final product, and are ready to begin full-scale production for
Medtronic, one of the world's largest medical technology companies. This initial
purchase order is significantly larger than originally planned. Paravant's production
under this Supply Agreement is strategic to Paravant's penetration of the medical
marketplace."
Medtronic, Inc. is the world's leading medical technology company specializing in
implantable and interventional therapies. Headquartered in Minneapolis, Minnesota,
Medtronic does business in more than 120 countries, with operations organized into
three global areas: Americas, Europe/Middle East/Africa, and Asia/Pacific.
Paravant is a manufacturer of rugged portable computers and communications
interfaces utilized in the medical marketplace and outdoor settings. Paravant is an
FDA approved Contract Manufacturer, whose products are sold into the medical
marketplace because of their reliability, complete configuration control, and ability to
meet stringent design specifications (including FDA, IEC and EMI requirements).
This press release contains forward-looking statements, which are inherently subject
to risks and uncertainties. The Company's actual results could differ materially from
those currently anticipated due to a number of factors, including, but not limited to,
the budgetary and appropriation policies of the Company's governmental customers,
the competitive environment for the Company's products and services, the timing of
new orders, the degree of market penetration of the Company's new products, and
other factors set forth in reports and other documents filed by the Company with the
Securities and Exchange Commission from time to time.
CONTACT: Paravant Computer Systems, Inc.
Kevin Bartczak, CFO
(407) 727-3672 ext. 3043
or
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Loren Goldstein (212) 836-9604
Linda Latman (212) 836-9609
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