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Technology Stocks : IDTI - an IC Play on Growth Markets
IDTI 48.990.0%Mar 29 5:00 PM EST
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To: AJBurl who wrote (9009)6/26/1998 10:33:00 PM
From: 5,17,37,5,101,...  Read Replies (1) of 11555
 
AJ,

I spoke to Mike Tierney who stated that he thinks the chance of such a repurchase at IDT is minimal, reason being lack of available cash, investment in the WC2 et al requiring available resources. He told me that he mentioned share repurchase to Perham who rejected the notion out of hand.

Mike also confirmed the recent insider purchase by Berg (200,000 shares at around $7.00) and option exercise of 100,000 shares by Perham. He told me that the options were of the nonqualified type, so the gain upon exercise is immediately taxable. The implication is that Perham feels strongly share price will appreciate soon because if price drops farther he will owe taxes on gains that will have disappeared essentially. Regretfully, I forgot to ask the exercise price.

This is my second such encounter with IDT IR. Each time (the last was Brian) I have been treated exceptionally well. My phone calls have been returned promptly with the information I required.

Jackson
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