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Non-Tech : CompUSA (CPU) -- Ignore unavailable to you. Want to Upgrade?

To: Smart Investor who wrote (2344)	5/6/1999 9:35:00 AM
From: James Yu	Read Replies (1) \| Respond to of 3187

All bad new comes out but here comes a very good news from Bloomberg. CompUSA Says It's Exploring Possible IPO for Internet Unit Dallas, May 5 (Bloomberg) -- CompUSA Inc., the largest U.S. retailer of personal computers, said it's exploring the possibility of taking its Internet computer-selling business public. An initial public offering of CompUSA Net.com would be among various options for the company, which said it also will explore ''strategic partnerships'' for the unit. Chief Executive James Halpin said executives are dissecting every piece of CompUSA's business to figure out how to restore profitability, and he expects to have a game plan in four to six weeks. ''Nothing's sacred,'' Halpin said. Still, ''at the end of the day you'll see us selling PCs in the stores.'' CompUSA executives, in a conference call to discuss the company's fiscal third-quarter results, said they're also considering expansion of the chain into other consumer electronics such as phones, cameras and camcorders. The company needs to become less dependent on the desktop computer for sales, they said. CompUSA, after the close of trading today, announced a third-quarter loss of $4.9 million, or 5 cents a share, compared with net income of $25.4 million, or 27 cents, a year earlier. The company blamed lower prices and weak sales of PCS. 1999 Bloomberg L.P. All rights reserved. Best wishes James