Printer Friendly

INTERMAGNETICS GENERAL CORPORATION ANNOUNCES LISTING ON THE AMERICAN STOCK EXCHANGE

 INTERMAGNETICS GENERAL CORPORATION ANNOUNCES
 LISTING ON THE AMERICAN STOCK EXCHANGE
 NEW YORK, Sept. 10 /PRNewswire/ -- Intermagnetics General Corporation (AMEX: IMG), of Guilderland, N.Y., began trading on the American Stock Exchange Sept. 9 with the common stock closing at 6-3/4 on volume of 21,000 shares. The stock trades under ticker symbol "IMG". The stock previously traded on the over-the-counter market in NASDAQ's National Market System.
 Intermagnetics General Corporation (IGC) was founded more than 20 years ago as a spin-off from the General Electric Company, and has since grown to be an internationally recognized leader in superconductive technology and its applications. Today, IGC is one of the world's leading manufacturers of superconductive magnets, wire and associated ultra-low temperature refrigeration equipment, especially those used in medical diagnostic magnetic resonance imaging (MRI) systems. In addition, the company also produces high field research magnets, permanent magnet systems and material separation equipment. Superconductivity is a phenomenon characterized by the loss of resistance to the flow of electric current in certain metals, alloys and, as more recently discovered, a few ceramic-type materials, when they are cooled to very low temperatures. The major use of superconductive materials, in either wire or tape form, is in the construction of a broad variety of special types of very energy- efficient magnets that are many times more powerful than conventional resistive copper wound magnets.
 Said Carl H. Rosner, president and chief executive officer of Intermagnetics General; "We are very pleased that the company's growth and performance have qualified it to be listed on the American Stock Exchange. The Amex specialist trading system provides a more orderly and stable market which is consistent with our objective of improving shareholder value."
 For the fiscal year ended May 31, 1992, Intermagnetics General Corporation realized a net income of $4,264,000 ($0.57 per primary share) up from $2,810,000 ($0.38 per primary share) for the fiscal year end 1991.
 The American Stock Exchange is committed to becoming the recognized, premier marketplace for growth companies and derivative securities. By responding to listed company needs and initiating quality services, the Amex finds innovative ways to add value to the expanding community of companies and investors it serves.
 Intermagnetics General, as a leading manufacturer of superconducting magnets, wire and associated ultra-low temperature refrigeration equipment, the combination of which is especially useful in medical diagnostic imaging (MRI) systems, is dedicated to the development and commercialization of applied superconducting systems. The company also produces permanent magnet systems and materials separation equipment.
 -0- 9/10/92
 /CONTACT: Carl H. Rosner, president of Intermagnetics General Corporation, 518-456-5456/
 (IMG) CO: Intermagnetics General Corporation ST: New York IN: SU:


BM -- CL016 -- 8144 09/10/92 15:20 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 10, 1992
Words:451
Previous Article:COMMISSION ON BROADCASTING TO PEOPLE'S REPUBLIC OF CHINA TO RELEASE REPORT
Next Article:HUDSON FOODS, INC. COMPLETES ACQUISITION
Topics:


Related Articles
INTERMAGNETICS GENERAL AWARDED PROGRAM TO DESIGN MOTOR FOR MAGLEV VEHICLE
INTERMAGNETICS GENERAL REPORTS RECORD EARNINGS FOR THE YEAR
INTERMAGNETICS GENERAL CORPORATION REPORTS FIRST QUARTER RESULTS
INTERMAGNETICS ANNOUNCES INCREASE IN ULTRALIFE INVESTMENT
INTERMAGNETICS GENERAL CORPORATION ANNOUNCES SECOND QUARTER RESULTS AND OTHER DEVELOPMENTS
INTERMAGNETICS ANNOUNCES RECEIPT OF HIGH TEMPERATURE SUPERCONDUCTOR DEVELOPMENT CONTRACTS VALUED AT 2 MILLION DOLLARS
INTERMAGNETICS' PRESIDENT CITES STRONG FUTURE GROWTH PROSPECTS
INTERMAGNETICS REPORTS RECORD ANNUAL REVENUES AND MAJOR EARNINGS IMPROVEMENT
Intermagnetics General Corporation Reaffirms Stock Buy-Back Program
Intermagnetics Completes Acquisition of Polycold Systems International, Inc.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters