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Technology Stocks : Internap Network Services Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (356)	6/3/2001 1:45:28 PM
From: Jibacoa	Read Replies (3) \| Respond to of 1011

<<as far as I can tell there has been zero insider buying.>> You apparently didn't look far enough.<g> On February 12 Cristopher WHEELER, senior Vice-President Technology & Chief Technology Officer bought 2,750,856 shares. On March 12 Anthony NAUGHTAN, President & CEO bought 120,000 shares. On March 13 Jerome CONLON, the Chief Marketing Officer bought 16,666 shares. On March 14 Michael VEST, Executive Vice-President, bought 48,000 shares On March 14 Jack SCANLON, Vice-President, bought 9,000 shares. Although there has been a good amount of sales from institutions and large shareholders, there has not been any sales from any of the corporation's officers. The "insiders" still hold 55% of shares and "institutions" in spite of recent sales, still hold close to 39% << They are cutting staff because their pace of growth has slowed. >> They said they were planning on cutting their work force by approximately 65 people but expected to hire 120 people in 2001. In the trailing 12 months revenues were 89.2 million and after the "reduced expectations" the estimated revenues for 2001 are $160 million. That is still a 100% rate of growth. The "loss" in the last quarter was substantial, but there was a $196 million "asset impairment charge", which apparently is not recurring. Of course the company still needs new financing, but at present levels the Risk/Reward appears favorable. 100% per year growth in revenues although slower than previous still seems a good pace of growth for me.<g> Bernard