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Technology Stocks : Information Architects (IARC): E-Commerce & EIP

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To: Rick Voteau who wrote (9988)	3/26/1999 9:42:00 PM
From: Probity	Read Replies (1) of 10786

All- I had the pleasure of attending the keynote speech last evening given by Bob Gruder. He was well prepared and enjoyable to listen to. EIP is very exciting but it's a bit too technical to fully understand in less than an hour, but interesting nonetheless. It is my feeling that regardless of y2k, this is vision that BG had for the company from the start. I, for one, am quite excited about the future prospects for IA. Bob stated that an analyst that he has been 'working' with for quite some time is coming for a visit this Wednesday. He seems confident this could finally lead to some long awaited coverage. Bob reported very strong contract growth in Q4 but that they would only do $7 mil in y2k revenues per quarter from here on out. They are re-tooling the company over to the EIP business. So, essentially any explosion of business in y2k will be passed over. They simply don't want anymore of it at this point, they'll use what they have booked to help finance their EIP venture. They report their factory is at full capacity, but 85% is audit work at anywhere from 7 to 30 cents per line. Also cost code remediation is now DECREASING instead of increasing as had been anticipated. Bob reports they have been very frustrated since day one with respect to lack of code being delivered on time. The State of Geneva contract, which was signed some time ago, has not yet sent any code for remediation. Another un-named company promised their code "next week" eight months ago. They just received it this week. As for Data Systems, Bob feels he "stole" a $27 mil company for the price of $7 mil. He stated that about $30 mil in revs will be recognized this year from DS. They hired 8 new employees yesterday and should total about 500 by mid year. The shareholder's meeting will be held on May 21st, rumor has Jeff M. has his table already reserved at the Diamond Club after the meeting. In closing, all of the above info is just basically my interpretation of the evening's events. Kevin

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