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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: bob who wrote (12878)9/16/1998 1:45:00 PM
From: paul e thomas  Read Replies (1) of 13949
 
POST 2000 PROSPECTS FOR IT PROVIDERS

There is an excellent article in The New America Section of todays IBD that discusses the business prospects for IMRS and other Year 2000 service providers beyond the year 2000. The story shows a graph from Dataquest which shows that y2k total spending was about 60 billion $ in 1997 and will rise nearly 50% in 1998.They forecast it will drop about 10% in 1999 and will drop just over another 50% in 2000.The article paints a very positive picture of the future for IMRS and cites that their current backlog is 3/4 non y2k work versus 1/2 of their current revenue rate.A Montgomery Securities analyst projects IMRS revenue in 1998 will grow to 150mm$ in 1998.IDTC expects that total IMRS revenue will reach 222MM$ by 2002.The article cites IMRS access to low cost labor in INDIA and Northern Ireland.It is building sites in Australia,Eastern Europe and the Philipines.The article makes it clear they believe that all Y2K service providers will find business opportunities from Y2K clients in application development,integration and maintaing IT systems.The article says there are a number of business drivers that are encouraging the use of external IT service providers.Companies are focusing on their core competencies while leaving systems work to outsiders .Also reapid changes in technology are forcing non technical firms to seek help from outside experts. Nearly all the Y2k service providers are forecast to grow earnings at a long term growth rate of 35% or more.
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