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Non-Tech : IMPCO Technologies (IMCO), formerly AirSensors (ARSN) -- Ignore unavailable to you. Want to Upgrade?

To: Elvis Jones who wrote (114)	12/3/1998 7:22:00 AM
From: Jim Oravetz	Read Replies (2) \| Respond to of 298

Impco sees recovering Q2 shortfall in H2 CERRITOS, Calif, Dec 2 (Reuters) - Impco Technologies Inc. said Wednesday it expects to recover its second quarter net income shortfall caused by the General Motors strike in the second half of its fiscal year. Impco, which sells alternative fuel products, announced net income for the second quarter ended October 31 of $893,000, or $0.11 a diluted share, down from $991,000, or $0.15 a diluted share a year ago. Analysts had estimated earnings of $0.20 a share, according to First Call. Impco Chief Executive Robert Stemmler said in a statement that General Motors Corp.'s (NYSE:GM - news) delays in delivering vehicles scheduled for conversion with IMPCO's natural gas and propane fuel systems boosted the company's per unit overhead costs and lowered gross margins. Stemmler said that orders from General Motors and its fleet customers for alternative fueled vehicles were currently meeting projected sales levels. ++++++++++++++++++++++ Maybe these semi-bullish comments about making up the revenue have helped. I thought that IMCO had claimed that the GM strike would not effect their business. Could they really have been looking through rose colored glasses and not seen it coming? I know it is unfashionable to announce "bad" news (consequently your stock gets hammered) but this seems like they were lying. What is the truth? Are they just using this as an excuse? I have not really looked over the numbers in detail, but it seems they really missed the mark (.11 vs .20 expected). Could THAT many trucks not have been completed? I am long term bullish, but I also would like truth in advertizing when it materially effects the company. Seems like this is the stuff shareholder law suits start over - misleading statements. JimO