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To: Dale Baker who wrote (14045)	1/5/2000 5:11:00 PM
From: Dale Baker	Read Replies (4) \| Respond to of 118717

Trying to grab some HOTT after hours: Hot Topic's December Comp Store Sales Increase 24.5 Percent; Total Net Sales Increase 60 Percent for December, 63 Percent YTD Business Wire - January 05, 2000 16:19 CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Jan. 5, 2000--Hot Topic Inc. (Nasdaq:HOTT) today announced that its net sales for fiscal December 1999 (five weeks ended Jan. 1, 2000) increased 60 percent to $35,614,000 from net sales of $22,246,000 for fiscal December 1998. Same store sales increased by 24.5 percent compared with December 1998. Last year, December same store sales decreased by 7.0 percent. Net sales for the first 11 months of fiscal 1999 (48 weeks ended Jan. 1, 2000) increased 63 percent to $157,998,000 from net sales of $96,822,000 for the first 11 months of fiscal 1998. Same store sales increased by 22.3 percent compared with the first 11 months of 1998. Last year, the first 11 months same store sales increased by 0.4 percent. The company operated 212 stores at the end of December 1999, an increase of 55 stores over the 157 stores open at the end of December 1998. Three new stores were opened during December 1999, all in existing markets. Orv Madden, president and chief executive officer, said: "We are very pleased with the 1999 holiday season. December's sales results were the best in our company's history. We experienced sales results that were significantly over our plan in all merchandise categories, including gift certificates. Both comparable store sales and newer, non-comparable store sales in all regions of the country were over our plan each week, with very strong sales in the week before and the week after Christmas." Madden continued: "Traffic and sales in December on our expanded Web site, www.hottopic.com, were also very strong all month, including the week after Christmas. Sales in December from our Web site were over 600 percent greater than last December. "The previously announced stock split was effective on Dec. 27, 1999. The stock split should benefit Hot Topic stockholders by making our stock more accessible to individual investors and by increasing liquidity," added Madden. Hot Topic is a mall-based specialty retailer of music-licensed and music-influenced apparel, accessories and gift items for young men and women principally between the ages of 12 and 22. The company currently operates 212 stores in 42 states throughout the United States and an Internet store, www.hottopic.com.

To: Dale Baker who wrote (14045)	1/5/2000 5:22:00 PM
From: jgideon	Read Replies (2) \| Respond to of 118717

Dale and thread -- I think I heard of INPH from this thread months ago, so I'd like to return the favor and alert you to it at this time. It has retested the low of 20 again and has moved up quite well the first 3 days of the new year. The move today was up 13% on less than average volume. INPH is getting lots of mentions on Kimberley's thread and just showed up on Trader J's thread. If volume kicks in, it could jump in the coming days. INPH is a fibre channel adapter maker for the SAN market. They have almost tripled FC sales over the last 3 quarters. INPH is significantly undervalued compared to its peers. I believe it is because they are not viewed as a pure FC/SAN play. It will soon be apparent that they are nearly a pure play. FC accounted for almost 60% of revenues last quarter and growing fast. The main downside is that HP is by far the biggest customer. Hence, when they did not win a recent HP bid, the stock dropped. Management states that, despite that, total HP business will grow next year. I loaded up around 20. jg