UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): September 9, 2004


                        INTERNATIONAL DISPLAYWORKS, INC.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

           Delaware                     0-27002              94-3333649
           --------                     -------              ----------
(State or other jurisdiction of       (Commission         (I.R.S. Employer
incorporation or organization)        File Number)       Identification No.)


                           599 Menlo Drive, Suite 200,
                            Rocklin, California 95765
                            -------------------------
    (Address and telephone number of principal executive offices) (Zip Code)

                                 (916) 415-0864
                                 --------------
              (Registrant's telephone number, including area code)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act   (17 CFR
    240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))


<PAGE>

Section 2 - Financial Information
---------------------------------

Item 2.02 Results of Operations and Financial Condition.

     International  DisplayWorks,  Inc.  announced  its  results  for the  third
quarter of fiscal year 2004 on the attached press release.

Section 9 - Financial Statements and Exhibits
---------------------------------------------

Item 9.01 Financial Statements and Exhibits.

         Exhibit No.      Exhibit Description
         -----------      -------------------

         99               Press release announcing third quarter results


<PAGE>


                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                               INTERNATIONAL DISPLAYWORKS, INC.,
                                               a Delaware Corporation


Dated:  September 9, 2004                      /s/ Alan M. Lefko
                                               ---------------------------------
                                               Alan M. Lefko
                                               Vice President of Finance



<PAGE>


                                [GRAPHIC OMITTED]

                      International DisplayWorks Announces
                         Third Quarter Financial Results

                             FOR IMMEDIATE RELEASE

For additional information contact:
Steve Kircher                                 or     Matthew Hayden, President
CEO, International DisplayWorks, Inc.                Hayden Communications, Inc.
(916) 415-0864                                       (843) 272-4653
                                                     matt@haydenir.com

ROCKLIN,  Calif.,  --  September  9,  2004--  International  DisplayWorks,  Inc.
(OTC/BB:  IDWK), a  manufacturer  and  distributor  of liquid  crystal  displays
(LCDs),  modules  and  assemblies,  today  announced  financial  results for the
Company's  third quarter and nine-month  period of fiscal 2004, the period ended
July 31, 2004.

Third Quarter Highlights:
     o  Net income of $370,000 or $0.01 per share
     o  Operating income of $444,000 vs. loss in Q3 2003
     o  Revenues  for  the quarter  increased  97.9  percent  to a  record $11.7
        million
     o  Revenue  for  nine  months  increased  104.3  percent  to  $32.1 million
     o  Company   completes  quarter  with  $20.7  million   in  cash  and  cash
        equivalents

For the third quarter, revenues were a record $11.7 million, an increase of 97.9
percent  compared to the $5.9 million  reported for the third  quarter of fiscal
2003. The Company's gross profit increased 86.5 percent to $2.4 million compared
to a gross profit of $1.3 million for the same period a year ago.  Gross margins
were 20.9 percent  compared to 22.2 percent for the fiscal third quarter of last
year.  Operating  expenses for the quarter  were $2.0  million  compared to $1.5
million in the year ago period as the Company grew sales at three times the rate
of growth in  operating  expenses.  Operating  expenses  as a percent of revenue
decreased  to 17.1  percent  for the third  quarter  of 2004,  compared  to 26.2
percent for last year's third quarter.  The Company reported operating income of
$444,000,  compared to an operating  loss of $238,000 for the same period a year
ago. Net income was $370,000,  or $0.01 per diluted  share,  compared with a net
loss of $314,000, or $0.02 per diluted share last year. The fully diluted shares
outstanding were 32,192,938  million as of the third quarter of 2004 compared to
19,318,246 million as of the end of the third quarter of 2003.

For the nine-month period, revenues were $32.1 million, a 104.3 percent increase
compared to the $15.7  million  reported for the first nine months of 2003.  The
gross profit increased 87.2 percent to $7.0 million compared to $3.7 million for
the first nine months of 2003. Gross margins for the first nine months were 21.8
percent compared to 23.7 percent in the year ago period.  The operating expenses
for the nine-month period were $5.5 million, a 24.6 percent increase compared to
the $4.4 million reported for the first nine months of 2003.  Operating expenses
as a percent of revenues were 17.3 percent compared to 28.3 percent for the same
period a year  ago.  The  Company  reported  operating  income  of $1.4  million
compared to a loss from  operations  of $718,000  last year.  Net income for the
nine-month  period was $543,000,  or $0.02 per diluted share,  compared to a net
loss of $918,000, or $0.05 per share last year.

"We have  clearly made  substantial  progress in  executing  our business  plan,
doubling  sales of monochrome  displays while  carefully  managing our operating
expenses,  and  the  result  has  been  continued   profitability  and  improved
shareholder  value,"  commented  Steve  Kircher,   chief  executive  officer  of
International  DisplayWorks,  Inc.  "Our  efforts  have yielded a diverse mix of
large  customers  and  an  improved  competitive  position,   which  will  prove
beneficial as we complete our entry into the color display market.  I am pleased
with the results year to date, and look forward to continuing this momentum into
our next fiscal year as we become a recognized  leader in  producing  both color
and monochrome displays for a wide variety of markets."
<PAGE>

"We are  actively  working to complete  the  installation  of the  equipment  we
purchased in June for the  manufacturing  and assembly of color  displays,"  Mr.
Kircher continued.  "We recently signed a lease for a new manufacturing facility
near our current campus in China which will provide the necessary  space for the
new CSTN  manufacturing  line. We anticipate  the equipment will be in place for
initial runs by the middle of October,  thus  allowing us to produce  prototypes
for customer  qualification,  with mass  production  projected by the end of the
fiscal  first  quarter.  We also  expect  to have  our  TFT  assembly  equipment
installed and we will be accepting orders for production in November."

The Company  completed  the third  quarter with a  strengthened  balance  sheet,
reporting  $20.7 million in cash and cash  equivalents,  an increase of 18 times
compared  to the $1.2  million  reported  as of October  31,  2003.  The Company
finished the quarter with a current ratio of 2.77 to 1. Management  believes the
Company is adequately capitalized to execute its business plan, which at optimum
product mix has the capacity to generate over $500 million in annual  production
given current selling prices for color displays.  However,  the Company does not
expect that annual production will approach this level in fiscal 2005.

Management  will  discuss  the results in a  conference  call today at 4:15 p.m.
Interested  parties should call 888-823-7457 if calling within the United States
or 973-582-2718 if calling  internationally.  There will be a playback available
until September 16, 2004. To listen to the playback, please call 877-519-4471 if
calling  within the United States or  973-341-3080  if calling  internationally.
Please use pass code 5137447 for the replay.  A web cast of the conference  call
is available at the International DisplayWorks website at http://www.idwlcd.com/
until October 9, 2004.

About International DisplayWorks

International  DisplayWorks,  Inc. is a manufacturer  and  distributor of liquid
crystal  displays,  modules  and  assemblies  for a variety  of  customer  needs
including  OEM  applications.  IDW owns  270,000  square  feet of  manufacturing
facilities  in the  People's  Republic of China (PRC) and employs  approximately
1,750  persons.  Sales offices are located in Rocklin,  CA, Ann Arbor,  MI, Hong
Kong,  the United  Kingdom  and  Shenzhen,  PRC.  Copies of IDW's 10-K and other
documents  as filed with the SEC are  available  through a link on our web site:
www.idwlcd.com.

NOTE: The foregoing is news relating to International DisplayWorks, Inc. ("IDW")
and contains  forward-looking  statements,  which are made  pursuant to the safe
harbor provisions of the Private  Securities  Litigation Reform Act of 1995. The
forward-looking  statements  involve  risks and  uncertainties  that could cause
actual results to differ materially from the  forward-looking  statements.  When
used in this release,  the words "anticipate,"  "believe,"  "estimate," "expect"
and  similar  expressions  as they  relate to IDW or its  management,  including
without  limitation,  IDW and its  subsidiaries,  are intended to identify  such
forward-looking  statements.  IDW's actual results,  performance or achievements
could  differ  materially  from the  results  expressed  in, or implied by these
forward-looking statements. For more detailed information the reader is referred
to IDW's 10-K and other related documents filed with the Securities and Exchange
Commission.  This does not constitute an offer to buy or sell  securities by the
Company and is meant purely for informational purposes.


                                TABLES TO FOLLOW


<PAGE>



                INTERNATIONAL DISPLAYWORKS, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                 (in thousands, except Share and per share data)
<TABLE>
<CAPTION>
<S>                                                                        <C>           <C>           <C>           <C>

                                                                         For Nine Months Ended       For Three Months Ended
                                                                       ----------------------------------------------------
                                                                         July 31,      July 31,      July 31,      July 31,
                                                                           2004          2003          2004          2003
                                                                       ----------------------------------------------------

      Sales                                                              $ 32,073      $ 15,698      $ 11,654      $  5,889

Cost of goods sold                                                         25,095        11,970         9,220         4,584
                                                                       ----------------------------------------------------

      Gross profit                                                          6,978         3,728         2,434         1,305
                                                                       ----------------------------------------------------

Operating expenses:

      General and administrative                                            3,579         2,676         1,234         1,017

      Selling, marketing and customer service                               1,507         1,323           633           382
      Engineering, advanced design and product management                     454           447           123           144
                                                                       ----------------------------------------------------

              Total operating expenses                                      5,540         4,446         1,990         1,543
                                                                       ----------------------------------------------------


              Operating income (loss)                                       1,438          (718)          444          (238)
                                                                       ----------------------------------------------------

Other income (expense):

      Interest expense (net)                                                 (333)         (256)          (84)          (95)

      Other income (expense)                                                 (562)           56            10            19
                                                                       ----------------------------------------------------
              Total other income (expense)                                   (895)         (200)          (74)          (76)
                                                                       ----------------------------------------------------

              Income (loss) from continuing operations

                   before income taxes                                        543          (918)          370          (314)
                                                                       ----------------------------------------------------


              Provision for income taxes                                        -             -             -             -
                                                                       ----------------------------------------------------

              Net income (loss)                                             $ 543      $   (918)       $  370      $   (314)
                                                                       ====================================================


Basic and diluted loss per common share

           Basic                                                            $0.02      $  (0.05)       $ 0.01      $  (0.02)
                                                                       ====================================================

           Diluted                                                          $0.02      $  (0.05)       $ 0.01      $  (0.02)
                                                                       ====================================================

Weighted average common shares outstanding

           Basic                                                       24,730,165    19,294,921    29,960,175    19,318,246

           Diluted                                                     26,962,928    19,294,921    32,192,938    19,318,246
                                                                       ====================================================
</TABLE>

<PAGE>


                            BALANCE SHEET HIGHLIGHTS
                                 (in thousands)

                                              7/31/04         10/31/03
                                          ---------------  ----------------
Cash and  cash equivalents                $        20,660  $          1,178
Other Current Assets                               15,298             8,086
                                          ---------------  ----------------
  Total Current Assets                             35,958             9,264
Net Property & Equipment                            5,315             4,796
                                          ---------------  ----------------
  Total Assets                            $        41,273  $         14,060
                                          ===============  ================

Current Liabilities                       $        12,968  $          7,959
Shareholders' Equity                               28,232             4,224
                                          ---------------  ----------------
  Total Liabilities and Equity            $        41,273  $         14,060
                                          ---------------  ----------------

                                          ---------------  ----------------
Outstanding Shares                             30,054,883        20,984,913
                                          ===============  ================
[{"type": "8-K", "sequence": "1", "filename": "for090904.txt", "secsgml_size_bytes": 17653}]
{"company-data": {"conformed-name": "INTERNATIONAL DISPLAYWORKS INC", "cik": "0000866415", "assigned-sic": "3670", "irs-number": "943333649", "state-of-incorporation": "OR", "fiscal-year-end": "1031"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27002", "film-number": "041022956"}, "business-address": {"street1": "599 MENO DRIVE, STE", "city": "ROCKLIN", "state": "CA", "zip": "95765", "phone": "5033759300"}, "mail-address": {"street1": "INTERNATIONAL DISPLAY WORKS INC", "street2": "599 MENLO DRIVE SUITE 200", "city": "ROCKLIN", "state": "CA", "zip": "95765"}, "former-company": {"former-conformed-name": "MORROW SNOWBOARDS INC", "date-changed": "19951006"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): September 9, 2004

                        INTERNATIONAL DISPLAYWORKS, INC.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

           Delaware                     0-27002              94-3333649
           --------                     -------              ----------
(State or other jurisdiction of       (Commission         (I.R.S. Employer
incorporation or organization)        File Number)       Identification No.)

                           599 Menlo Drive, Suite 200,
                            Rocklin, California 95765
                            -------------------------
    (Address and telephone number of principal executive offices) (Zip Code)

                                 (916) 415-0864
                                 --------------
              (Registrant's telephone number, including area code)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act   (17 CFR
    240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))
Section 2 - Financial Information
---------------------------------

Item 2.02 Results of Operations and Financial Condition.

     International  DisplayWorks,  Inc.  announced  its  results  for the  third
quarter of fiscal year 2004 on the attached press release.

Section 9 - Financial Statements and Exhibits
---------------------------------------------

Item 9.01 Financial Statements and Exhibits.

         Exhibit No.      Exhibit Description
         -----------      -------------------

         99               Press release announcing third quarter results
SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                               INTERNATIONAL DISPLAYWORKS, INC.,
                                               a Delaware Corporation

Dated:  September 9, 2004                      /s/ Alan M. Lefko
                                               ---------------------------------
                                               Alan M. Lefko
                                               Vice President of Finance
[GRAPHIC OMITTED]

                      International DisplayWorks Announces
                         Third Quarter Financial Results

                             FOR IMMEDIATE RELEASE

For additional information contact:
Steve Kircher                                 or     Matthew Hayden, President
CEO, International DisplayWorks, Inc.                Hayden Communications, Inc.
(916) 415-0864                                       (843) 272-4653
                                                     matt@haydenir.com

ROCKLIN,  Calif.,  --  September  9,  2004--  International  DisplayWorks,  Inc.
(OTC/BB:  IDWK), a  manufacturer  and  distributor  of liquid  crystal  displays
(LCDs),  modules  and  assemblies,  today  announced  financial  results for the
Company's  third quarter and nine-month  period of fiscal 2004, the period ended
July 31, 2004.

Third Quarter Highlights:
     o  Net income of $370,000 or $0.01 per share
     o  Operating income of $444,000 vs. loss in Q3 2003
     o  Revenues  for  the quarter  increased  97.9  percent  to a  record $11.7
        million
     o  Revenue  for  nine  months  increased  104.3  percent  to  $32.1 million
     o  Company   completes  quarter  with  $20.7  million   in  cash  and  cash
        equivalents

For the third quarter, revenues were a record $11.7 million, an increase of 97.9
percent  compared to the $5.9 million  reported for the third  quarter of fiscal
2003. The Company's gross profit increased 86.5 percent to $2.4 million compared
to a gross profit of $1.3 million for the same period a year ago.  Gross margins
were 20.9 percent  compared to 22.2 percent for the fiscal third quarter of last
year.  Operating  expenses for the quarter  were $2.0  million  compared to $1.5
million in the year ago period as the Company grew sales at three times the rate
of growth in  operating  expenses.  Operating  expenses  as a percent of revenue
decreased  to 17.1  percent  for the third  quarter  of 2004,  compared  to 26.2
percent for last year's third quarter.  The Company reported operating income of
$444,000,  compared to an operating  loss of $238,000 for the same period a year
ago. Net income was $370,000,  or $0.01 per diluted  share,  compared with a net
loss of $314,000, or $0.02 per diluted share last year. The fully diluted shares
outstanding were 32,192,938  million as of the third quarter of 2004 compared to
19,318,246 million as of the end of the third quarter of 2003.

For the nine-month period, revenues were $32.1 million, a 104.3 percent increase
compared to the $15.7  million  reported for the first nine months of 2003.  The
gross profit increased 87.2 percent to $7.0 million compared to $3.7 million for
the first nine months of 2003. Gross margins for the first nine months were 21.8
percent compared to 23.7 percent in the year ago period.  The operating expenses
for the nine-month period were $5.5 million, a 24.6 percent increase compared to
the $4.4 million reported for the first nine months of 2003.  Operating expenses
as a percent of revenues were 17.3 percent compared to 28.3 percent for the same
period a year  ago.  The  Company  reported  operating  income  of $1.4  million
compared to a loss from  operations  of $718,000  last year.  Net income for the
nine-month  period was $543,000,  or $0.02 per diluted share,  compared to a net
loss of $918,000, or $0.05 per share last year.

"We have  clearly made  substantial  progress in  executing  our business  plan,
doubling  sales of monochrome  displays while  carefully  managing our operating
expenses,  and  the  result  has  been  continued   profitability  and  improved
shareholder  value,"  commented  Steve  Kircher,   chief  executive  officer  of
International  DisplayWorks,  Inc.  "Our  efforts  have yielded a diverse mix of
large  customers  and  an  improved  competitive  position,   which  will  prove
beneficial as we complete our entry into the color display market.  I am pleased
with the results year to date, and look forward to continuing this momentum into
our next fiscal year as we become a recognized  leader in  producing  both color
and monochrome displays for a wide variety of markets."
"We are  actively  working to complete  the  installation  of the  equipment  we
purchased in June for the  manufacturing  and assembly of color  displays,"  Mr.
Kircher continued.  "We recently signed a lease for a new manufacturing facility
near our current campus in China which will provide the necessary  space for the
new CSTN  manufacturing  line. We anticipate  the equipment will be in place for
initial runs by the middle of October,  thus  allowing us to produce  prototypes
for customer  qualification,  with mass  production  projected by the end of the
fiscal  first  quarter.  We also  expect  to have  our  TFT  assembly  equipment
installed and we will be accepting orders for production in November."

The Company  completed  the third  quarter with a  strengthened  balance  sheet,
reporting  $20.7 million in cash and cash  equivalents,  an increase of 18 times
compared  to the $1.2  million  reported  as of October  31,  2003.  The Company
finished the quarter with a current ratio of 2.77 to 1. Management  believes the
Company is adequately capitalized to execute its business plan, which at optimum
product mix has the capacity to generate over $500 million in annual  production
given current selling prices for color displays.  However,  the Company does not
expect that annual production will approach this level in fiscal 2005.

Management  will  discuss  the results in a  conference  call today at 4:15 p.m.
Interested  parties should call 888-823-7457 if calling within the United States
or 973-582-2718 if calling  internationally.  There will be a playback available
until September 16, 2004. To listen to the playback, please call 877-519-4471 if
calling  within the United States or  973-341-3080  if calling  internationally.
Please use pass code 5137447 for the replay.  A web cast of the conference  call
is available at the International DisplayWorks website at http://www.idwlcd.com/
until October 9, 2004.

About International DisplayWorks

International  DisplayWorks,  Inc. is a manufacturer  and  distributor of liquid
crystal  displays,  modules  and  assemblies  for a variety  of  customer  needs
including  OEM  applications.  IDW owns  270,000  square  feet of  manufacturing
facilities  in the  People's  Republic of China (PRC) and employs  approximately
1,750  persons.  Sales offices are located in Rocklin,  CA, Ann Arbor,  MI, Hong
Kong,  the United  Kingdom  and  Shenzhen,  PRC.  Copies of IDW's 10-K and other
documents  as filed with the SEC are  available  through a link on our web site:
www.idwlcd.com.

NOTE: The foregoing is news relating to International DisplayWorks, Inc. ("IDW")
and contains  forward-looking  statements,  which are made  pursuant to the safe
harbor provisions of the Private  Securities  Litigation Reform Act of 1995. The
forward-looking  statements  involve  risks and  uncertainties  that could cause
actual results to differ materially from the  forward-looking  statements.  When
used in this release,  the words "anticipate,"  "believe,"  "estimate," "expect"
and  similar  expressions  as they  relate to IDW or its  management,  including
without  limitation,  IDW and its  subsidiaries,  are intended to identify  such
forward-looking  statements.  IDW's actual results,  performance or achievements
could  differ  materially  from the  results  expressed  in, or implied by these
forward-looking statements. For more detailed information the reader is referred
to IDW's 10-K and other related documents filed with the Securities and Exchange
Commission.  This does not constitute an offer to buy or sell  securities by the
Company and is meant purely for informational purposes.

                                TABLES TO FOLLOW
INTERNATIONAL DISPLAYWORKS, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                 (in thousands, except Share and per share data)
For Nine Months Ended       For Three Months Ended
                                                                       ----------------------------------------------------
                                                                         July 31,      July 31,      July 31,      July 31,
                                                                           2004          2003          2004          2003
                                                                       ----------------------------------------------------

      Sales                                                              $ 32,073      $ 15,698      $ 11,654      $  5,889

Cost of goods sold                                                         25,095        11,970         9,220         4,584
                                                                       ----------------------------------------------------

      Gross profit                                                          6,978         3,728         2,434         1,305
                                                                       ----------------------------------------------------

Operating expenses:

      General and administrative                                            3,579         2,676         1,234         1,017

      Selling, marketing and customer service                               1,507         1,323           633           382
      Engineering, advanced design and product management                     454           447           123           144
                                                                       ----------------------------------------------------

              Total operating expenses                                      5,540         4,446         1,990         1,543
                                                                       ----------------------------------------------------

              Operating income (loss)                                       1,438          (718)          444          (238)
                                                                       ----------------------------------------------------

Other income (expense):

      Interest expense (net)                                                 (333)         (256)          (84)          (95)

      Other income (expense)                                                 (562)           56            10            19
                                                                       ----------------------------------------------------
              Total other income (expense)                                   (895)         (200)          (74)          (76)
                                                                       ----------------------------------------------------

              Income (loss) from continuing operations

                   before income taxes                                        543          (918)          370          (314)
                                                                       ----------------------------------------------------

              Provision for income taxes                                        -             -             -             -
                                                                       ----------------------------------------------------

              Net income (loss)                                             $ 543      $   (918)       $  370      $   (314)
                                                                       ====================================================

Basic and diluted loss per common share

           Basic                                                            $0.02      $  (0.05)       $ 0.01      $  (0.02)
                                                                       ====================================================

           Diluted                                                          $0.02      $  (0.05)       $ 0.01      $  (0.02)
                                                                       ====================================================

Weighted average common shares outstanding

           Basic                                                       24,730,165    19,294,921    29,960,175    19,318,246

           Diluted                                                     26,962,928    19,294,921    32,192,938    19,318,246
                                                                       ====================================================
BALANCE SHEET HIGHLIGHTS
                                 (in thousands)

                                              7/31/04         10/31/03
                                          ---------------  ----------------
Cash and  cash equivalents                $        20,660  $          1,178
Other Current Assets                               15,298             8,086
                                          ---------------  ----------------
  Total Current Assets                             35,958             9,264
Net Property & Equipment                            5,315             4,796
                                          ---------------  ----------------
  Total Assets                            $        41,273  $         14,060
                                          ===============  ================

Current Liabilities                       $        12,968  $          7,959
Shareholders' Equity                               28,232             4,224
                                          ---------------  ----------------
  Total Liabilities and Equity            $        41,273  $         14,060
                                          ---------------  ----------------

                                          ---------------  ----------------
Outstanding Shares                             30,054,883        20,984,913
                                          ===============  ================