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Technology Stocks : INVX Innovex Comdex Winner !! -- Ignore unavailable to you. Want to Upgrade?

To: Mark Oliver who wrote (2809)	1/10/1999 12:51:00 PM
From: Ram Seetharaman	Respond to of 3029

Wall Street is not worried that much about their market share as much as their ability to show profits and sales increase. If they can show sales and profit increase irrespective of their product line by diversifying, then this stock will go up! If not, then with the shrinking market share they will stagnate in the $ 12-15 range, and eventually will be bought out!

To: Mark Oliver who wrote (2809)	1/10/1999 11:02:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 3029

Ram and Mark, Yes watch AMD for an earnings surprise.... Here I sold 1/2 of my INVX and bought AFLX. As to the other 1/2, yes Mark, I do not like the current technical pattern of INVX . But I'll hold on through the earnings release as wall street expectations are already pretty low here.... Sincerely, Doug F.

To: Mark Oliver who wrote (2809)	1/20/1999 5:53:00 PM
From: Kurthend	Read Replies (1) \| Respond to of 3029

Mark, Thought you might like a recap on the cc. I wasn't able to listen to the cc live due to work, but I just listened to the playback. I had a bad phone connection and thus I might have miss quoted some numbers. As always, don't take anything I say as gospel. If I misquoted anything, anybody can feel free to correct me. Compared to CCs over the last year, the mood seemed to be a lot better. They didn't sound dejected as they have in the past. 1. Read the press releases for q1 numbers. 2. Lawsuit- $750,000 for Curtin. No question taken on this matter except that the cost to the company in q1 was about $200,000 or about 1 cent or less per share (expenses related to the lawsuit). q2 will be even less. $750,000 will be taken I believe in q3 and will be listed as under other expenses. 3. HDD industry better in general and so is HIF. 4. Equipment added to Litchfield in late April/May time frame. Expect the equipment to have capacity of 2 times the current capability. 5. FSA capacity (not current production) is 300k per wk, expected capacity is 1 million per wk by end of Sep 99. 6. WAT/wires - 1st qtr is 5 mil per wk, expect below 2 mil by end of FY99. I think q2 will be about 3-3.5 mil. 7. Chip packaging delayed about 30 days to end of q3 or early q4 due to a customer wanting a design change. 8. MR is 95% of the wire business vs TFI. 9. Bridge Flex is an excellent solution btw wire/FSA. Will continue to grow throughout the year. Better margin than wires (note-this contradicted later notes, oh well so much for paying attention). 10. Talked about utilization rate at Litchfield. Unsure what the 75%-85% and 20-30% rate alluded to. Phone line was acting up. 11. Dep/amort was $1.8 mil for q1. 12. ASP for bridge flex is 25 cents (+ or -) and is high volume. ASP for HIF is 35-40 cents (+ or -) and also high volume. 13. ASPs won't come down significantly. Most decrease in ASP has already been implemented. 14. SG&A was up due to trimming bad debt, higher professional fees, and a third reason which I didn't hear. 15. Cap Ex for FY99 is expected to be $13 mil (bulk is for purchase of attachment equipment for FSA and also they said something about internal mixture or material ??) and FY00 is expected to be about $15 mil. 16. Said a little about compensation for employees due to increase revenues/earnings. Little will change according to INVX in terms of current compensation. 17. 4 customers in in qualification for FSA. Confident one customer will come on board in 3rd qtr and there has been a design win in another customer. INVX stated that we would recognize the names of these 4 customers. 18. Guidance looking forward-this qtr in transition and expect flat to moderately higher revenues/earnings for q2 over q1. q3 and q4, the bottom line should take off. Expect a mirror image in earnings in FY99 over FY98 (samething INVX said last CC). 19. Losing a lot of wire business, but are making it up in the bridge flex business. Overall margins for INVX are stable to up and the bottom line is stable to up. 20. FSA designed in on at least one program of each of their 4 prospective customers. 21. $3 mil in accts receivable is up in q1, but not out of proportion. 22. Looking into strategic acquisitions (emphasize strategic). No stock buyback at this time. 23. I didn't understand this part, but INVX is looking at internal material capability due to potential of big gains (ie revenue). 24. Chip packaging will see significant growth. Spoke of flexible interposes (?) and the semi-conductor industry (vertical integrators and packagers). Four programs are now testing (?). 25. In q1 the plant was operating at 25% capacity and expect 50% by May (of maximum capacity). Late this calendar year or early next year INVX will have 100% capacity in place. 26. Wires consisted of $70 million in revenue in FY98, expect $30 mil in FY99, and drop of to nothing by the end of FY00. 27. Spoke about integrated suspensions vs flex suspensions. Attachment equipment for flex is a great advantage. 28. Key for INVX is the need to execute in a timely manner. The money is there. Priority will be to get the US operation in place and then emphasize their Asian operation. 29. Depreciation for the equipment utilized for the mnufacturing of wires will drop off in the June qtr. They will either sell the equipment or attempt to use the lasers for other products (ie drilling holes). 30. FSA has achieved design wins in both the low end and high end drives (disk drives) for the various prospective customers. 31. Chip scale packaging is qualifying in 4 programs with 2 customers. Schedules are now in place for the ramp-up for these programs. Flex products are in 3-4 package designs (spoke of wafer scales and others, but I didn't catch them all). 32. Chip packaging (semi-conductor industry) will see significant growth in the next five years. 1998 was the first significant year that chip packaging has been accepted in the industry. $.5 to 1 billion market in 5 years and INVX is expecting to gain a big share of this market. Hope this helps since I know you didn't call from Australia:) Gotta go back to the dark side (GMGC) Take care, Kurt