Newsletter

Trading Alert- Irvine Sensors

June 23, 2003
Volume VI, Issue 61
Email : info@otcjournal.com
URL : http://www.otcjournal.com

To OTC Journal Members:
 

Irvine Sensors (NASDAQ: IRSN) - Trading Alert

Irvine Sensors issued a press release today just after the market closed, and the timing is ideal for investors looking to establish or add to a position in this exciting technology company.

IRSN pioneered the technology of "chip stacking". The company has 50 patents and over $200 million invested in the process of bonding microprocessors to create super high powered computing chips.

The stock traded to a high of $365 at the top of the technology bubble. Despite having the best year in their 20 year history in fiscal 2002 (end of September), and being on track to have another record year by the end of September this year, the stock is only trading at about $1.50 as of today's close.

From fiscal 1998 through 2001, IRSN averaged $10 million in sales each year. In fiscal 2002 the company hit the $15 million mark, and this year it is possible we could see $20 million. There are less than 11 million shares issued and outstanding, so the $15 million market cap is ridiculously low in my opinion.

As it turns out, the processing power put out by Irvine Sensors' technology is ideal for the new generation of high tech military and homeland security applications. The Department of Defense is spending $13 million with Irvine Sensors this year in development programs for high tech weaponry. 
 

Irvine Sensors Announces $1 Million Contract With Army

Irvine Sensors is developing a special version of the miniaturized camera you see pictured here in a special program for the U.S. Army's Research, Development and Engineering Command CERDEC Night Vision and Electronic Sensors Directorate. This is a Phase II award, meaning Phase I was successful, and commercialization is coming closer to reality.

The camera will be used for night vision weapons sites for infantry weapons. Because of the super computing component, the camera is very small, lightweight, and doesn't require the enormous power and cooling current infrared sites require. Once implemented, this infrared camera will reduce the weight and size of night vision weaponry considerably. Note the key sitting next to the camera for size comparison purposes.

This represents just one of many new technologies the military is developing with Irvine Sensors' technology.
 

Perfect Entry Level- Right on the Trend Line

As you can readily see in this 90 day chart, Irvine Sensors dropped the last couple of days in conjunction with the market's long overdue correction. It has dropped to the perfect entry level, right on the uptrend or support line. The stock will undoubtedly rebound from here on this news, and a break above the $2.13 level would put us into new high ground and be extremely bullish.

The stock is also at the lower end of its support/resistance channel, suggesting today's closing level is favorable for those who like a lower risk entry point.

I believe the stock has a shot at breaking above the previous high of $2.13 if the market continues trending higher and the company can deliver a few more fundamental developments over the next thirty days. 

This last time I called a Trading Alert on this stock was April 23rd at $1.19. The subsequent trading high of $2.13 represented an 80% gain over the ensuing thirty days. I'm hoping for an encore performance and like our chances from here. 

You should read our original presentation on Irvine Sensors if you are not familiar with the company. Click Here to read the original profile.

Here is the complete text of today's press release for your review:
 

Press Release Source: Irvine Sensors Corporation

Irvine Sensors Developing Enhanced Night Vision Sensor

Monday June 23, 4:19 pm ET

Recent Awards Included $1 Million to Increase Resolution of Camera System

COSTA MESA, Calif., June 23 /PRNewswire-FirstCall/ -- Irvine Sensors Corporation (Nasdaq: IRSN, BSE: ISC) announced today that approximately $1 million of the aggregate value of contracts announced on April 23, 2003 is from the U.S. Army's Research, Development and Engineering Command CERDEC Night Vision and Electronic Sensors Directorate for the development and delivery of enhanced resolution versions of Irvine Sensors' miniaturized infrared cameras. The new contract is a follow-on to a Phase 2 Small Business Innovation Research award under which the Irvine Sensors' first generation camera was successfully developed last year. While the Army's primary interest in the camera technology is for use in a miniaturized, night vision weapons sight for infantry weapons, the new contract also involves delivery of several units for testing as helmet-mounted sensors for firefighters. Federal funding for the fire fighting application was due in large part to the strong support of Congresswoman Loretta Sanchez (D-CA), Congressman Chris Cox (R-CA) and Congressman Curt Weldon (R-PA).

Irvine Sensors' proprietary infrared camera technology is based on the use of stacked memory chips that store pre-calibrated sensor performance characteristics for a wide range of expected operating temperatures. Such an approach avoids the necessity of cooling the infrared sensor system, with corresponding reductions in camera volume, weight and power requirements. Irvine Sensors recently received two U.S. patents on its infrared camera technology, including one covering the fundamental approach of pre- calibration.

"We have already demonstrated a miniaturized, battery-powered infrared camera with extended operating lifetime that works by exploiting the capabilities of our chip-stacking technology. This latest funding is intended to further refine the operational features of that camera. In addition, by opening up an avenue for commercial application through firefighters, it potentially broadens the support base for this technology. We believe that multiple uses could lead to higher volumes, lower costs and corresponding benefits to both military and commercial customers," said Robert G. Richards, Irvine Sensors' Chief Executive Officer.

Irvine Sensors Corporation, headquartered in Costa Mesa, California, is primarily engaged in research and development related to high density electronics, miniaturized sensors and cameras, optical interconnection technology, high speed routers, image processing and low-power analog and mixed-signal integrated circuits for diverse systems applications.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking statements based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, the potential application for and success of our technology that is the subject of this contract and speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, general economic and political conditions and specific conditions in the markets we address, including our ability to successfully enhance our camera product to meet the specifications of potential military and commercial customers; our ability to successfully commercialize that product; our ability to raise additional capital; our ability to negotiate appropriate strategic relationships; our ability to control costs and expenses; and the general economic slowdown in the technology sector and semiconductor industry. Further information on Irvine Sensors Corporation, including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and our other SEC filings that are available through the SEC's website ( www.sec.gov ).
--------------------------------------------------------------------------------
Source: Irvine Sensors Corporation


 


Charts Provided Courtesy Of TradePortal.com
Disclaimer
The OTCjournal.com Newsletter is an independent electronic publication committed to providing our readers with factual information on selected  publicly traded companies. All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward  maximizing the upside potential for investors while minimizing the downside risk, whenever possible.  Moreover, as detailed below, this publication accepts compensation from certain of the companies which it features.  Likewise, this newsletter is owned by MarketByte, LLC.  To the degrees enumerated herein,  this newsletter should not be regarded as an independent publication.

Click Here to view our compensation on every company we have ever covered, or visit the following web address:  http://www.otcjournal.com/disclaimer.html for our full profiles and http://www.otcjournal.com/trading-alerts/disclaimer.html for Trading Alerts. MarketByte LLC has been paid a fee of $25,000 by Irvine Sensors for coverage through December 31, 2003. As part of the agreement, one of the prinicipals of MarketByte LLC has been awarded 75,000 options, with an exercise price of $1.35.

All statements and expressions are the sole  opinions of the editors and are subject to change without notice. A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities  mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein.

The editor, members of the editor's family, and/or entities with which they are affiliated, are forbidden by company policy to own, buy, sell or otherwise trade stock for their own benefit in the companies who appear in the publication unless specifically disclosed in the newsletter.

The profiles, critiques, and other editorial content of the OTCjournal.com may contain forward-looking statements relating to the expected capabilities of the companies mentioned herein.

THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN  SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. THE INFORMATION FOUND IN THIS PROFILE IS PROTECTED BY THE COPYRIGHT LAWS OF THE UNITED STATES AND MAY NOT BE COPIED, OR REPRODUCED IN ANY WAY WITHOUT THE EXPRESSED, WRITTEN  CONSENT OF THE EDITORS OF OTCjournal.com.

We encourage our readers to invest carefully and read the investor information available at the web sites of  the Securities and Exchange Commission ("SEC") at http://www.sec.govand/or the National Association of Securities Dealers ("NASD") at http://www.nasd.com. We also strongly recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, which can be found at  http://www.sec.gov/consumer/cyberfr.htm. Disclaimer ID:$subst('Recip.userid') Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site.


Unsubscribe Here

You can unsubscribe from this list at any time by Clicking Here and HITTING SEND. If you are having difficulty removing yourself or wish to change your address please go to http://listserv.otcjournal.com/opt.cgi?.

 
 

Disclaimer

The OTC Journal Newsletter is an electronic publication committed to providing our readers with useful information on publicly traded companies. The Newsletter contracts with publicly traded companies and receives compensation from them or third parties as payment for publishing information and opinions about the company and the trading market for their securities. Principals of the Newsletter may also purchase or sell securities of the companies in the open market from time to time. The positions, if any, that the Newsletter or its principals presently maintain in the securities of the companies are disclosed here (click here) and should be considered in making an investment decision regarding these companies securities. The Newsletter and its principals reserve the right to acquire additional shares or liquidate some or all of the positions they may hold in the issuer’s securities at any time in the future without further notice. These publications should not be considered to be independent publications concerning the company.

All statements and opinions expressed herein are those of the editors and are subject to change without notice. The Newsletter maintains editorial control over its publications and the companies profiled therein do not have any editorial rights concerning the information published about them. While we believe all sources of information provided by us and contained in our publication to be accurate and reliable, we cannot and do not guarantee the accuracy of information we received from third parties.

We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission ("SEC") at http://www.sec.gov and/or the National Association of Securities Dealers ("NASD") at http://www.finra.org. We also recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, which can be found at http://www.sec.gov/consumer/cyberfr.htm. Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site.

The information found in this profile is protected by the copyright laws of the United States and may not be copied, or reproduced in any way without the express written consent of the editors of otcjournal.com.

UNSUBSCRIBE

You can unsubscribe from this list at any time by Clicking Here. If you are having difficulty removing yourself or wish to change your address please go to http://www.otcjournal.com/opt/.