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Technology Stocks : IMPX - When Will the Dead Money Awaken?
IMPX 6.210+13.3%Oct 22 3:59 PM EST
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To: Richard Mazzarella who wrote (382)6/29/1998 3:27:00 PM
From: Zeev Hed  Read Replies (1) of 532
 
Richard, you should not be in IMPX, this stock is not going to make a substantial move until they show some design wins for their new devices. That may take some time. I heard the same story two years ago when I got into HAUP and THQI in the 3 or so. It is the value of this company that intrigues me, the maintenance of a credible development program (about 25% of sales in R&D). Those guys cut SG&A by half when sales collapsed and not R&D, this to me means that intend to survive. While their book value shows only some $.35/share, they have more than $2/share in a depreciated assets, their fabs which was built for close to $90 MM and is depreciated to $10 MM, and would probably require more than $150 MM to reproduce. It seems that they can increase sales without having to invest a lot, and a new team there seems to be knowing what they are doing.

Sure it is a gamble, but unlike GPGI, they are not peeling the onion, they are selling at a rate of $1.33/share and they would even be profitable if they did not spend some $10MM or so on R&D yearly, I like that kind of spending. I am in this one because I think it is a true "turn around story".

Zeev
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