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Technology Stocks : Intermagnetics (IMG) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Shaw who wrote (3151)	8/10/1999 12:48:00 PM
From: Wafa SHIHABI	Read Replies (1) \| Respond to of 3448

Finally someone starting to clean-up. Well, its about time. Intermagnetics General Corp. Dow Jones Newswires -- August 10, 1999 DJ Intermagnetics Genl 4Q Loss 57c/Shr On Items Vs Net 6c Intermagnetics General Corp. - Latham, N.Y. 4th Quar May 30: 1999 1998 Sales $27,410,000 $27,424,000 Net income a (7,037,000) 885,000 Avg shrs (basic) 12,335,271 12,771,120 Avg shrs (diluted) 12,335,271 13,807,377 Shr earns (basic) Net income a (.57) .07 Shr earns (diluted) Net income a (.57) .06 Year: Sales 102,871,000 95,894,000 Net income b (7,029,000) 2,753,000 Avg shrs (basic) 12,429,039 12,755,733 Avg shrs (diluted) 12,429,039 13,408,960 Shr earns (basic) Net income b (.57) .22 Shr earns (diluted) Net income b (.57) .21 Figures in parentheses are losses. a. Includes charges and provision totaling $2.5 million and a pension curtailment gain of $1.5 million, as well as a $7.3 million write off from an investment in an unconsolidated European affiliate, SMIS Ltd. Excluding all items, except the write off, the company earned $635,000. b. Includes restructuring charges totaling $4.7 million and a $1.75 million provision for inventory impairment and a pension curtailment gain of $1.5 million, as well as as the $7.3 million write off. Excluding the items, except the write off, the company earned $5.8 million. Intermagnetics General Corp. (IMG) said that as a result of its fiscal-year loss, it's unable to declare a dividend. Also, Intermagnetics said it has begun working on the termination of its pension plan since it recorded a curtailment gain of $1.5 million. The gain will be offset by any loss required to be recognized when the plan is terminated in a subsequent period. The company said it has switched from the pension plan to a contribution 401k plan. Thomas Matthews; 201-938-5400