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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: P. Ramamoorthy who wrote (12477)7/26/1998 8:46:00 AM
From: paul e thomas  Read Replies (2) of 13949
 
FINANCIAL VERSUS STOCK PERFORMANCE

OVER the last 3 days IMRS price declined 11%,and declined each day. This adverse result was duplicated by only 5 other NASDAQ LISTED stocks. This performance would certainly suggest the possibility of adverse news or a poor earnings report or negative conference call. I listened to the conference call on Friday.All the analysts were very positive in their remarks concerning the call. I had thought that possibly the bottom line earnings which were negative due to one time aquisition charges might become a matter of discussion.Not a single analyst raised a question.Maybe then the analyst's don't have high enough standards as to what constitutes strong performance.IBD reports in Monday's paper that the median net earnings gain was 33% for all 256 stocks that reported gains after the close Thursday or on Friday.IMRS reported a 113% gain. Among the 40 or so stocks with the best earnings gain there were only 3 stocks with % gains in quarterly revenues than the 99% year over year gain reported by IMRS.IMRS had the highest after tax margin before the aquisition charges of these 4 fastest growing companies.I can think of only 2 possible reasons for the discrepancy in price performance versus operating performance. The first is that the market thinks the shareholder value of owning Y2K stocks is declineing. IF this is true then anyone reading this post should sell all their Y2K stocks now as NO OTHER Y2K STOCK CAN MATCH THE CURRENT FINANCIAL PERFORMANCE OF IMRS.The explanation is that those people investing in IMRS don't really understand what is happening in transforming the company from a Y2K to a non Y2K firm.THE current backlog which is growing faster than revenue is now only 30% Y2K .In the second quarter 54% of IMRS revenue was Y2K.Does anyone have a rebuttal to my post?
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