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

To: Mark Oliver who wrote (2832)	1/19/1999 6:30:00 PM
From: mfamily	Respond to of 3029

earnings posted at 5:30 .20/share report looks upbeat like to hear your evaluation

To: Mark Oliver who wrote (2832)	1/19/1999 6:30:00 PM
From: Douglas V. Fant	Read Replies (2) \| Respond to of 3029

Mark, Earnings out! Looks like INVX beat the consensus estimate of $0.18/share by about 10% coming in at $0.20/share. Revenues rose quarter over quarter by about 24.7% And even more importantly the Bridge Flex issue was clarified- a number of order already under production and a number of additional orders in qualification. Also INVX's diversification into the world of ECM's looks set to launch with four semiconductor chip assembly orders in late 1999.... Tuesday January 19, 5:30 pm Eastern Time Company Press Release SOURCE: Innovex Announces First Quarter Results HOPKINS, Minn., Jan. 19 /PRNewswire/ -- Innovex, Inc. (Nasdaq: INVX - news) today announced earnings for its fiscal 1999 first quarter ending December 31, 1998. Net income was $2,995,000 on revenues of $22,028,000. This compares to revenue of $17,865,000 and net income of $1,965,000 for the fiscal 1998 fourth quarter and $33,009,000 and $7,274,000 for the prior year first quarter. Diluted net income per share was $0.20 for the quarter, compared with $0.13 and $0.48 per share for the prior year fourth and first quarters, respectively. Gross and net margins for the fiscal 1999 first quarter were 32% and 14%, respectively, up from the 27% and 12% reported in the prior year fourth quarter and down from the 40% and 22% reported in the prior year first quarter. The improving margins are primarily due to increased demand for disk drive interconnects, both for the new flexible circuits and the traditional lead wire assemblies. Head interconnect flex (HIF) shipments averaged over 1 million units per week during the first quarter and increased to over 1.5 million units per week by the end of the quarter. HIF shipments are anticipated to increase to 2.5 million units per week by the end of the fiscal 1999 second quarter. In addition, the Company has multiple programs under evaluation with four customers for the new flex suspension assembly (FSA) product with shipments expected in the fiscal 1999 third quarter. Innovex has five customers for the new Bridge Flex product with initial volumes shipped during the fiscal 1999 first quarter. Bridge Flex volumes are expected to increase to over 1 million per week by the end of the March quarter and more than double the following quarter. The Bridge Flex completes the connection from the suspension to the actuator flex for competing disk drive head interconnect solutions that terminate at the end of the suspension. The Company is in qualification for four semiconductor packaging applications at two chip packaging manufacturers with volume production expected by the end of fiscal 1999. Innovex is a diversified manufacturer of electrical components for the computer, medical and telecommunication markets, as well as a developer of computer software. Innovex is known worldwide for its excellence in advanced engineering and low cost manufacturing. Except for historical information contained herein, the matters discussed in this release are forward looking statements that involve risks and uncertainties, including the timely availability and acceptance of new products, the impact of competitive products and pricing, and other risks detailed from time to time in the Company's SEC reports, including the report on Form 10K for the year ended September 30, 1998, Form 10Q for the quarter ended December 31, 1998 and other Securities and Exchange Commission filings.