RealTime IT News

IPO Tracker: Nasdaq Lifts IPO Boats

It seemed like old times last week -- with the IPO market having a fair share of moonshot performances. But, not all IPOs were so lucky. For example, the much-delayed divine interVentures saw its IPO fall on its opening day (then again, it saw-the-light on Friday, as the company bounced back).

The IPO action burst on Thursday, as Nasdaq continued its winning ways. There was Triton Network Systems . The IPO range had been boosted from $10-$12 to $13-$15. On Thursday, the IPO was priced at $15 and surged to $38.44.

Actually, the company was a throwback to the defense spending of the 1980s. When this market dried up, the company effectively refocused its business on wireless and broadband. But the company is at the early stages of this market, with revenues of $3.5 million and losses of $11 million in the first quarter of this year.

Next, Sunrise Telecom's IPO was like a shooting star. The price range was $11-$13, but the IPO was priced at $15. The company raised $60 million. On its first day of trading, the stock hit a high of $47 and ended the day at $40.41.

The company is a developer of verification and monitoring equipment for cable and Internet systems. The technology is in the form of a handheld device used by field technicians.

Sunrise has been a profitable operation for five years. Last year, the company had net income of $10.9 million, which was up from $3.4 million in 1998.

Network Engines was at high-speed in its IPO. The price range was $16-$17 and the IPO was priced at $17. The company raised $110.5 million. On the first day of trading, the stock rose to $29 per share (the high was $34). The company is a developer of server appliances. These are sophisticated devices that "plug-and-play" Internet functionality into corporate networks.

Unfortunately, the company is not in the profits camp. In the past quarter, revenues were $6 million and losses were $4.2 million

As for Friday, it was OmniVision that had its day in the sun. Priced at $13 per share, the stock hit a high of 37-5/8 and ended the day at $34. The company raised $65 million.

OmniVision is in the steamy semiconductor marketplace. The company is a leading supplier of CMOS image sensors ("Camera-on-a-Chip"). The technology helps to make cameras that are better, cheaper and smaller.

Investors were also glad that the company is profitable. As of the last nine months of 1999, the company generated profits of $5 million on $25 million in revenues.