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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Fred Levine who wrote (12295)	11/5/1998 4:24:00 PM
From: Tom Gebing	Read Replies (1) \| Respond to of 14631

As stated at the earnings CC..IFMX is planning on having a analysts conference on the 11th..... Could be a good meeting with the influential people . Just my opinion regards, Tom

To: Fred Levine who wrote (12295)	11/6/1998 11:51:00 AM
From: James H. Irwin	Read Replies (1) \| Respond to of 14631

IFMX is speaking in conjunction with the AEA conference in San Diego (used to be Monterey): OPCO had comments this morning on a number of software companies of which the following re: IFMX is an excerpt: Meaningful and sustainable license growth remains the key to IFMX' stock price, which we think is more likely a year or so out when customers get beyond concerns over Y2K data integrity. While 3Q98 saw 25% yoy growth to $96.3M, the comparison to 3Q97's $77.2M is suspect in that licenses contracted 40% in the 3Q97 period. Sustainable license growth aside, IFMX does have a number of accomplishments we expect it to speak about at its analyst meeting. The management team has been in place for about a year; revenues have stabilized and concerns over bankruptcy is a thing of the past. Current management has refocused the sales force on selling a large number of smaller deals which provide opportunity for repeat sales and relationshp building--all of which we consider positive. Management also announced its plans to acquire Redbrick Systems--a data warehousing company for 1X TTM revenues. Assuming Redbrick's shareholders approve of the deal we feel the acquisition is a strategic positive for IFMX, if for no other reason than the increase in R&D and sales force personnel. Farther out (into Calendar 2000), this acquisition could help improve its position in the data warehousing space, although we consider it a bit early to invest the company on this premise. Our current model forecasts license revenues to grow 11% to $415M in FY99. Last quarter was the first quarter in which managment began giving forward looking guidance to the street.