Shareholder meeting Nov. 10th...
would be real interested in knowing what the new Schenectady building will be used for exactly and what the rationale is for the addition of the new facility...
May be a little off but was under the impression that it was opening this month and had something to do with Frigc/ refrigeration related products...
1.What specifically are those products and what is the rationale?
2.Is it to cut costs...or in some way gain leverage...
I believe these issues should be addressed by the company...
.................................................................
The
annual meeting of shareholders will be held Nov. 10, at 3 p.m., at
the American Stock Exchange in New York City.
Notes
* Intermagnetics General Corp. operates on a fiscal year ending on
the last business day in May. Over a five-year period, the company's
stock outperformed the AMEX Composite index, but did not perform as
well as a Peer Group index, according to figures provided by the
company. A $100 in vestment made on May 31,1993, in the AMEX
Composite index would have grown to $161.12 by May 31, 1998, while an
equivalent investment in the Peer Group index would have grown to
* $483.30. A $100 investment in Intermagnetics General Corp. would
have grown to $163.64 in the same period. Net income for the first
quarter of fiscal 1999 was $1 million, or seven cents per diluted
share, on net sales of $26.5
million, up 118 percent from net income of $461,000, or four cents
per diluted share, on net sales of $21.02 million for the same period
* a year earlier. Under a $16.4 million contract, Intermagnetics
General will provide more than 360 miles (586 kilometers) of copper-
stabilized, niobium-titanium superconducting cable to be used in
constructing superconducting magnets for the Large Hardon Collider.
The collider will be the world's most powerful particle accelerator
when completed in 2005 at the European Laboratory for Particle
Physics, known as CERN, located near Geneva, Switzer land. CERN has
the option of doubling its initial order for superconducting cable as
the project progresses.
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