Gediminas Jasionis

Irvine Sensors Corporation (NASDAQ: IRSN) Erases Recent Price Losses on Extended Orders

by Gediminas Jasionis February 9, 2010
ISC_Logo_LeftJust_RGB_cropp.jpgIrvine Sensors Corporation (NASDAQ: IRSN) popped up Monday breaking the overall declining pattern, as the company announced additional orders for their Clip-On Thermal Imager devices. The news attracted more trading activity, but the price ended up with only a 5.75% gain for the day, as the volume evaporated in the second half of the trading session.

The company expects to receive over $18 million as the deliveries are processed. This should help cash flow turn positive for several periods, but all will depend on exact delivery periods and shipment sizes. Though the company is acting only as a subcontractor in aid of Optics 1, Inc. the promised revenues are by far one of the largest single orders received by Irvine so far.

Other than that, Tuesday's direction, lacking price movement, is understandable as Irvine is highly leveraged and lacks growth in its current sales. The stock is trading as well as it can under such poor fundamentals, though the increasing number of orders poses some potential, which might be realized over the next several years or so.

Share price stopped before passing the 200 day MA during the trading session, leaving this a speculative buy, as it has erased over a month of losses in just two days.

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