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Technology Stocks : TAVA Technologies (TAVA-NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Runner who wrote (22347)	8/18/1998 7:48:00 PM
From: Ted Gregg	Respond to of 31646

Tava Rises 27.5% After Publicity; Market Rebound Helps By Tom Locke DENVER (Dow Jones)--Tava Technologies Inc. (TAVA) shares closed up 27.5% Tuesday, the second straight day of gains after a price boost of 8.5% Monday. Tava spokesman Scott Liolios attributed the rise to a combination of factors: an Aug. 13 reiteration of a "buy" recommendation by Hanifen, Imhoff analyst Russell Welty in Denver; an Aug. 16 interview with Tava Chief Executive John Jenkins in the Venture Returns newsletter; and a rebound by the stock market and by companies tied to solving year 2000 computer problems. In his update, Welty said he was very comfortable with his fourth-quarter estimate of $15 million in revenue and four cents in earnings per share. In the Venture Returns interview, Jenkins emphasized that the prospects for the company are "better than ever." The Y2K Index, an index of companies that provide year 200 solutions, rose from 204 on Friday to 215 Tuesday, Liolios said. Tava Chief Financial Officer Doug Kelsall agreed that the Hanifen and Venture Returns publicity both contributed to the upswing, and he speculated that buyers jumped on the bandwagon once the stock started to move upward. "I think there was just some rebound buying," he said, noting there is no new news from the company. Tava stock has been clobbered over the last several months along with others associated with Y2K. Tava shares fell from a high of nearly 15 a share in April to a close of below 5 a share on Aug. 13. Tava, of Englewood, Colo., sells and integrates hardware and software manufacturing systems, and Liolios said it has unfairly been lumped with Y2K companies because it has a broader base than its Y2K business. Even so, Y2K is important to Tava. In its fiscal fourth quarter ending June 30, it received $25 million in orders for year 2000 tools and services. Tava has been a leader in warning manufacturers of potential year 2000 problems in their manufacturing processes, including potential problems in programmable logic chips in flow meters and other devices. Tava introduced a Y2K product called Plant Y2K One in July 1997. The year 2000 problem has been a good vehicle for introducing new clients to its core business. Ken Trbovich, associate director of research for The Red Chip Review in Portland, Ore., agreed that Tava is more than its year 2000 product. However, the company has "not consistently delivered," sometimes falling below earnings or revenue estimates, he said. In a June 16 report, for instance, Trbovich said Tava's third quarter ending March 31 fell short of his revenue estimate. Tava had third-quarter revenue of $11.7 million, compared with $11.2 million for the year-ago quarter. Earnings were $301,000, or 1 cent per diluted share. Tava shares closed Tuesday at 7 3/32, up 1 17/32, or 27.5%, on volume of 1,537,100 compared with average daily volume of 523,901. -By Tom Locke; 303-293-9294 "Dow Jones News Service" "Copyright(c) 1998, Dow Jones & Company, Inc."