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Technology Stocks : INVX Innovex Comdex Winner !! -- Ignore unavailable to you. Want to Upgrade?

To: Dan Woodbury who wrote (2995)	6/21/2000 8:28:00 AM
From: Ram Seetharaman	Read Replies (1) \| Respond to of 3029

Finally, a step in the right direction! Wednesday June 21, 8:01 am Eastern Time Company Press Release SOURCE: Innovex, Inc. Innovex Third Quarter Results to be Better Than Previously Expected MAPLE PLAIN, Minn., June 21 /PRNewswire/ -- Innovex, Inc. (Nasdaq: INVX - news) today announced that the results for its third fiscal 2000 quarter will be better than previously anticipated and better than its second quarter results. The company currently expects to report a net loss per share of $0.02 or less, compared to a street consensus for the third quarter of a net loss of $0.08 per share. ``The Innovex team is executing well on the transfer of our Mexico operations to Thailand and we have been able to reduce redundant operating costs faster than originally expected. In addition, we continue to rationalize our product line and eliminate non-profitable products,'' commented William P. Murnane, Innovex's President and CEO. ``Since the ADFlex acquisition nine months ago, we have substantially reduced our breakeven point so that we can now leverage the revenue growth that is expected later this year into considerable earnings growth,'' he added. Third quarter revenue will be slightly lower than the $41.4 million reported in the second fiscal quarter due to a change in invoicing products shipped to one of the company's largest customers. Prior to this quarter, the customer was invoiced as product was shipped. During the quarter, Innovex began invoicing the customer as the products exited an intermediate inventory warehouse owned by the customer. Without the impact of this change, third quarter revenue would be similar to second quarter revenue. Innovex, Inc. is a leading manufacturer of high-density flexible circuit-based electronic interconnect solutions. Innovex's products enable the miniaturization and increasing functionality of high technology electronic devices. Applications for Innovex's products include mobile telecommunication devices, data storage devices, networking equipment, computer printers, home consumer products, computers and personal communications systems. Innovex is known worldwide for its advanced technology and world class manufacturing. Except for historical information contained herein, the matters discussed in this release are forward looking statements that involve risks and uncertainties, including the timely availability and acceptance of new products, the impact of competitive products and pricing, the development and implementation of a materials manufacturing process, changes in manufacturing efficiencies and other risks detailed from time to time in both Company's SEC reports, including Innovex, Inc.'s reports filed with the Securities and Exchange Commission filings. SOURCE: Innovex, Inc.