TSXV:VER.H - Post by User
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RainRyderon Dec 22, 2006 11:09am
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Post# 11911933
VRS .. Van Sun Says
VRS .. Van Sun Says
Van Sun says 2006 was Allen-Vanguard's breakout year
2006-12-21 09:32 ET - In the News
The Vancouver Sun reports in its Thursday edition more than 40 per cent of the country's technology firms beat the S&P/TSX composite index -- up 14.5 per cent this year. CanWest's James Bagnall writes, however, one in three tech companies saw their share prices plummet by more than 10 per cent. In a security-conscious world, it was only a matter of time before Ottawa-based Allen-Vanguard made its breakout. The company makes robots and other technologies for dealing with chemical and biological weapons, as well as products for thwarting terrorists' remote-detonation bombs. It takes many months of marketing and trials to sell such technology to certified buyers in the military establishment. When Allen-Vanguard revealed last summer it had bagged a U.S. defence contract for up to $30-million (U.S.) for its electronic countermeasures product, investors took notice. The company's share price has been on a tear since mid-August, jumping from $1.75 to $4.71 before settling back to $4.15 on Dec. 13. Year to date, Allen-Vanguard's share value has soared 192 per cent, making the company by far the best performer of nearly 100 Canadian and U.S. tech firms surveyed by CanWest News Service.