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Technology Stocks : IMPX - When Will the Dead Money Awaken? -- Ignore unavailable to you. Want to Upgrade?

To: lml who wrote (195)	2/12/1998 4:51:00 PM
From: DEER HUNTER	Read Replies (2) \| Respond to of 532

Does anyone out there have an opinion as to why this stock has been moving higher lately given all the warnings that are in the recent SEC filing? Stock price action moves well ahead of corporate developments most of the time. Is this what we are seeing here? Here is a segment from the filing. Comments? Iomega, which accounted for approximately 39% of revenues in fiscal 1997, has advised the Company that the Company's products will not be a part of Iomega's long-term product strategy and sales to Iomega are projected to be lower in the foreseeable future than they were during fiscal 1997. Orders from the Company's largest foundry customer, International Rectifier, declined significantly during the year and sales in the foreseeable future are projected to be significantly less than they were during fiscal 1997. Orders for Rockwell were completed during the fiscal year and the Company does not anticipate continued sales to Rockwell in fiscal 1998. The above described actions by such major customers, along with other cancellations and delays by the Company's customers will adversely affect the Company's business and results of operations through fiscal 1998 and for the foreseeable future. Any further decline in demand for the Company's products, or any other decline in the demand by end-users of the products produced by the Company's customers could lead to a further decline in, or cancellation of, orders for the Company's products by its customers, which could adversely affect the Company's business and results of operations. DH