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Technology Stocks : WavePhore (WAVO)- VBI fed WaveTop for WebTV
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To: ERIC SCHEPPS who wrote (2572)1/29/1999 1:53:00 PM
From: Ken Turetzky  Read Replies (1) of 2843
 
Some points from the conference call:

Deeds was unimpressive as usual. One analyst pointed out that investors have a hard time figuring out what WAVO does and asked Deeds to sum it up. Deeds lost me in about five seconds.

However, Thom Kozik, the man in charge of WaveTop, was very impressive. First, some financials:

Deeds and Swenson said the company took a $4.6M charge relating to a reorganization plan to combine some of the diverse business units. They said they expect this move to help the company grow.

Equipment sales were way down again, but Deeds indicated that they are de-emphasizing equipment sales in favor of higher-margin business to business sales (the Newscast division). He promised new products there.

The company has $18M in cash, and all of the convertible preferred shares that could potentially dilute the stock have been issued.

WaveTop e-commerce revenues during Christmas were insignificant; revenues will not appear until 2Q99. Looks like a long wait.

Kozik suggested that the company is looking forward to WaveTop-friendly TV tuner chips in set-top boxes and PC motherboards.

He talked about making content development and e-commerce toolkits available to partners that will promote development of WaveTop applications.

Kozik also said the company is working on technology to that would provide WaveTop service "to other systems of persistent Internet connection than TV tuner cards." I'm not sure if he was talking about set-top boxes, ADSL or wireless connections, or what.
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