Business Services Industry
Irvine, Calif.-Based Discount Computer Retailer Goes Public on Nasdaq.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, March, 2000 by Farnsworth, Chris
Mar. 24--IRVINE, Calif.--EMachines Inc. raised $180 million in its second try at an public stock offering on Thursday, collecting about 10 percent less than the low-cost computer retailer expected with its first attempt last year.
The company, which sold 20 million shares at $9 each, met with a cool reception on Wall Street. Some analysts are skeptical of eMachines' long-term prospects even though it is the fourth best-selling retailer of PCs.
"Bottom line, here is an entity which is never, ever going to make money," said analyst Ashok Kumar of US Bancorp Piper Jaffray. "It's a classic case of the suckers bring the money and Wall Street brings the matches."
Still, the offering gives the company, which sells computers for less than $600, a...
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