Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Alfred W. Post who wrote (3418)	5/18/2001 8:24:12 AM
From: RMP	Read Replies (1) \| Respond to of 3448

Looks like we are having a little difficulty breaking through resistance. Hopefully the news below may encourage investors to buy. Press Release SOURCE: Intermagnetics General Corporation Intermagnetics' CEO Exercises Stock Options, Increases Direct Ownership by 15% Reaffirms Guidance for 40% EPS Growth this Year LATHAM, N.Y., May 18 /PRNewswire/ -- Intermagnetics General Corporation (Amex: IMG - news) today announced that President and CEO Glenn H. Epstein, citing financial and tax planning needs, has exercised and sold his first stock options since joining the company more than four years ago. Between May 7th and May 15th, Epstein sold 80,371 shares granted in a 1997 option, scheduled to expire next year. He also exercised options in order to increase his direct ownership of IMG stock by about 7,800 shares to approximately 58,600. Including exercisable options, Epstein's beneficial ownership of shares is projected to exceed 425,000 by the beginning of the company's new fiscal year in June. ``As I announced last October, I plan to sell a percentage of my overall option position each year as a means of tax optimization and long-term portfolio diversification,'' Epstein said. ``At the same time I intend to continue to increase my direct ownership of IMG shares to reflect my continued commitment and confidence in Intermagnetics' strategy, business model and long-term opportunities. I also remain comfortable with our earlier guidance that earnings per share for the year ending May 27th will exceed last year's by at least 40 percent.'' Intermagnetics is a leading developer and manufacturer of superconducting materials, radio-frequency coils, magnets and devices utilizing low- and high-temperature superconducting wire, cable and tape, and related refrigeration equipment. The company currently derives revenues primarily from applications within magnetic resonance imaging for medical diagnostics and cryogenic applications for vacuum and related processes. Through its own research and development programs and in conjunction with industry partners, Intermagnetics is committed to further commercialization of applied superconductivity and refrigeration systems including high-temperature superconductor applications for the electric utility industry