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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Peach who wrote (9726)	2/26/1998 9:27:00 AM
From: Nanda	Read Replies (1) \| Respond to of 13949

When the dust settles, it should move up. This company is a mirror image of CBSL,IMRS,MAST and SYNT. It has a huge earnings potential due to better profit margins. I rarely follow the herd!!!

To: Peach who wrote (9726)	2/26/1998 10:52:00 AM
From: Risky Business	Respond to of 13949

Nanda, this one is more recent: Local technology firm plans $18 million IPO UBICS provides Year 2000 solutions to corporate clients -------------------------------------------------------------------------------- Patty Tascarella UPPER ST. CLAIR -- Another local company seeking to tap the ubiquitous Year 2000 computer problem is preparing an initial public offering. UBICS Inc., the information technology offshoot of an Indian conglomerate, has filed a form S-1 with the federal Securities and Exchange Commission to trade publicly. The initial offering of 2 million shares is expected to raise $18 million to $22 million at a share price of about $10. The stock will trade under the symbol UBIX on the Nasdaq National Market. The offering is being underwritten by Parker/ Hunter Inc., Downtown, and Scott & Stringfellow, Richmond, Va. No date has been announced for the offering, but it's likely by November. Manohar Hira, UBICS president, would not discuss the IPO. Unlike many high-tech start-ups, UBICS is not connected to a local university. But it bears similarities to Mastech Corp., an Oakdale company that went public last October. Both supply computer services to a wide range of companies, have strong ties to India -- particularly employment of many foreign nationals -- and along with Oakland-based SEEC Inc., are part of a stream of Year 2000 conversion specialists going public. UBICS has been supplying information technology consultants to clients since its 1993 inception, but has recently added Year 2000 solutions consulting to its services. The Year 2000 bug is a flaw in the programming of older computers and software. Programs with the bug don't recognize dates after Dec. 31, 1999. They must be modified to operate properly after this date. UBICS is affiliated with UB Group, a $1 billion firm whose interests include chemicals, coatings and United Craft Brewers Inc., the largest brewery and distillery in India. Founded to serve UB's technology needs, UBICS soon positioned itself to perform services outsourced by other companies. UBICS clients include Caterpillar Inc., CompUSA, El Paso Natural Gas Co., Ralston Purina Co., and Fruit of the Loom Inc. Sales shot from $303,000 in 1994 to $9.1 million for 1996, and totaled $8.7 million for the first six months of fiscal 1997. Buoying sales is demand for installation and customization of so-called enterprise resource planning packages by companies like Oracle, PeopleSoft and SAP. ERPs allow large organizations to manage computer information on an enterprise-wide basis. Vijay Mallya, chairman of UB, is also chairman of UBICS. Mr. Mallya, 41, holds 94.7 percent of UBICS' shares. After the IPO, he will own about two-thirds of UBICS. UBICS said it plans to use proceeds of the initial public offering to establish a recruiting and training center in India. Craig Wolfanger, head of investment banking at Parker/Hunter, said the market for IPOs is "still strong." "I expect we'll still see more high growth, technology-oriented offerings," said Mr. Wolfanger, who will join the UBICS board as an outside director as part of the IPO. c 1997, Pittsburgh Business Times