Jeff, All: Here are my notes from the Q3 Conference Call originally posted on the Motley Fool. While somewhat dated, it might provide some context and perspective. Regards, Neil.
Re- Posted from Motley Fool:
Subject: Conference Call
Date: Sat, Aug 16, 1997 14:28 EDT
From: LongBow100
Message-id: <19970816182801.OAA05318@ladder01.news.aol.com>
PPT Vision Q3 Conference Call Notes:
Revenue-
Record revenues and unit shipments were driven by improvements in the Electronic Componets Segment, record sales in Europe ( via distributors ) and improvements in North America. Although North American sales were flat v the year ago quarter ( Q3 96 ) they increased 24% v Q2 97. The company indicated they were encouraged by the improved sales, and feel good about their backlog position going into Q4 (undisclosed). PPT added 8 new accounts which
accounted for 9% of Q3 sales, mostly in the electronics componets segment, with one in the medical device segment. One of the new accounts was Micron Technology, which was a competitve win against two other incumbent vendors. The application for the PPT machines is for Integrated Circuit final test mark verification. The winning edge for PPT was their easy to use icon based GUI interface. There is potential for follow on business with Micron. In
addition, the company saw some modest improvement in sales to AMP, which has historically been a big customer.
New Product Development-
The product upgrade program for the Scout and Passport lines continues to go well, with introduction scheduled for September at a machine vision tradeshow in Santa Clara CA.
Indications are that the upgrades will add significant new capabilities and "unique" functionality while maintaining current price points. If i understand this correctly, the enhanced capabilities will allow PPT to expand their addressable markets. Sounds interesting.
Balance Sheet-
Remains strong with $20,400,000 in cash at the end of the quarter. Increase in inventories reflects new product development efforts ( and pending product launch ? ).
Analysts-
The analyst participation on the call included Alexander Paris- Barrington Reasearch,
Mark Bystrom from RJ Steichen & Co., and Roger Norberg (?) from Piper Jaffray.
Editorial Comment-
Given the EPS performance for Q3, combined with an apparent improvement in business conditions and the pending launch of an upgraded product line, i would not be shocked to see a MODEST increase in estimates from the analyst community for Q4 and particularly for FY 98.
Regards,
LongBow |
