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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: art slott who wrote (6245)	1/18/1998 2:45:00 PM
From: Hal	Read Replies (2) \| Respond to of 26039

I am confused by Kessler's comment in his First Call note that he is lowering his earnings estimate for the December contract because he had expected the Cook County/NEC contract to be awarded in that quarter and it was delayed until this quarter. My confusion stems from the fact that it is not the awarding of the contract that would affect earnings, but rather the delivery of the product with no substantial contingencies to payment. Anyone know what he means? Indeed, he now assumes that any orders from NEC to IDX for machines will show up in this quarter. Is that how fast we generally go from an contract (awarded to NEC) to IDX delivery of machines? I keep asking questions about Kessler's analysis because (although he continues to forecast the biometric breakout near term) he also continues to downgrade his earnings estimates. He forecast a year ago that EPS FYE June 98 would be .40, he later moved that forecast to FYE June 99, and has now downgraded that estimate to .33. I have faith in IDX long term. -Hal