AMATI HISTORY SUMMARY, and Projections
April 25, 1997 -- Stock price 7 3/8, all telecommunications group offered for sell at basement prices. Amati 200 dma = 15 5/8, 50 dma = 11 7/16, 200 week moving average 6 7/16, 50 wma = 17 3/16.
April 15, 1997 -- Dr. Cioffi sells shares to pay taxes. Dr. Cioffi still holds more than 2,000,000 shares in stock and options. Sells were less than 5% of his holdings.
April 7, 1997 -- Amati and Sumitomo Combine Forces to Increase Data Access Speeds in Japan. The partnership is focused on accelerating the deployment of advanced communications services over existing telephone lines, a major initiative for Japan for the multimedia age. According to Sumitomo, the rapid growth of the Internet in Japan has caused increased demands for high-speed data transmission. ADSL is a viable solution since it allows broadband access over existing telephone lines, permitting telephone operators to offer services to their customers such as high speed access to the Internet, networked multimedia, work from home (telecommuting) and ATM to the home. In the U.S., ADSL is being acclaimed as one of the most promising technologies for high-speed Internet access.
March 20, 1997 -- Amati Communications and NEC America, Inc. provide broadcast video/ADSL equipment for MCI Corporation trials
March 17, 1997 -- Amati Communications and Euristix, Ltd., a Dublin, Ireland-based international telecommunications software developer, today announced a cooperative agreement for the development of an SNMP-based ADSL element management system. The alliance will capitalize on the expertise of both companies to deliver the most manageable, controllable and easily integrated ADSL management system on the market today.
February 28, 1997 -- Amati announced an extended contract with IBM for the development and manufacture of internetworking products. Amati and IBM have had a long-standing development relationship. In 1989, the initial agreement between Amati (formerly ICOT Corporation) and IBM was announced. Since then, Amati has been involved in more than a dozen different technology development and product manufacturing projects for IBM's customer base. In fiscal 1994, the company completed development of the next generation of local area network (LAN) products which IBM launched into the market. Additionally, Amati worked on several projects to design, develop and manufacture custom communications products for IBM.
February 6, 1997 -- In a breakthrough for digital signal processing (DSP) technology, researchers at Texas Instruments (NYSE: TXN) have demonstrated the world's lowest power, high-performance DSP operating at one volt and below (a benefit from Amati).
February 3-6, ComNet in D.C., No demo for Amati this time. False bottom - inverted head and shoulders formation.
February 3, 1997 - Texas Instruments Inc said it will begin volume production of its new high-speed digital signal processor chip in the second half of 1997 with initial volume in the hundreds of thousands of units. ... in the production phase in the second half of the year and expect to start up with hundreds of thousands of units ... see themselves producing millions of units by the end of the decade, perhaps tens of millions. (Amati benefits, of course).
January 31, 1997 - Amati and Sourcecom to Test Interoperability of Allegro ADSL Access Concentrator and BANC 6000 Compatibility. Will Facilitate ADSL Integration Into High-Speed Wide Area Networks. (13 1/2)
January 20, 1997 - Amati Announces Industry's First ADSL/DMT Access Concentrator for ADSL Data and Video Services. High Density Installation Platform Expedites Roll out of ADSL Services to Mass Market. (14 1/2)
January 13, 1997 - PRNEWSWIRE -- The U.S. modem market has been forecasted to total $3.06 billion for 1996. Revenues are expected to increase to 5.29 billion in 2003, according to strategic research from Frost & Sullivan, "U.S. Desktop and Portable Modem Markets." Mentions Amati and many others.
January 10, 1997 - Dain-Bosworth initiated coverage of Amati with a HOLD.
January 3, 1997 - Suspicious incorrect information from The IPO Financial Network report dated 1/3/97 shows: Amati Communications 1,204,913 shares at $18.75 as a secondary offering. Shorts stop by Amati thread to make sure all know about it. Report apparently false. See notes in the area of 8200.
December 20, 1996 - Singapore Telecom (SingTel) says it will soon offer Asia's first Internet access to services offering video as good as television. (14 13/32)
December 20, 1996 - 45 ea. DSLAM shipped from Amati to France Telcom (Stock Price = 14 13/32)
December 11, 1996 - TA -- price drops through 200 day moving average. (Closes at 17 1/4).
December 9, 1996 - GTE Begins Second Phase of Lightning-fast Internet Access Trial in Redmond, Wash. -- to include up to 100 area firms and 50 additional Microsoft employees. "Customer feedback throughout the trial's first phase has been overwhelmingly positive..." -- the second trial will include Amati's Overture 8 modem.(18 3/4)
November 20 thru December 3, 1996 -- Sale of shares by Amati officers: Director John M. Cioffi, 12,500 shares @ $17, Vice President Benjamin W. Berry, 2,000 shares @ $17.50, Director Cioffi, 87,500 shares @ $17.00 to $17.50, Treasurer T. Medel, 4250 shares @ 16.75 to 17.11, Senior VP David Bivolcoc, 3250 shares @ 16.67, VP Joseph Grady, 35315 shares @ 16.57, VP Benjamin Berry, 2000 shares @ 16.62.
November 22, 1996 - NEC Received Order of The World's First Commercial Interactive Multimedia Services Project from Hongkong Telecom. Good for Amati.
November 18, 1996 - Success of First 8 Mbps ADSL/DMT System in Trial with France Telecom. France Telecom Launches First Broadcast Video Service and Internet Mid-band Services at 8 Mbps with New Overture 8 ADSL/DMT Modem Design. (17 7/8)
November 14, 1996 - Amati & NEC Corp. In Deal To Develop VDSL Services.
Amati and NEC will jointly develop the VDSL transceiver LSI using Amati"s DMT technology and NEC"s advanced silicon fabrication facility. Amati says it will also provide software development needed to implement the patented DMT technology using new NEC integrated circuits.
November 11, 1996 - Amati and NEC -- Agreement to Develop Technology and Products for VDSL Services. (60 Mbps of Data and Video Over Copper Wire). (19 11/16)
October 17, 1996 - Amati and TI -- Agreement to Jointly Develop and Market DMT for ADSL Modems based on TI DSPs. (22 1/2)
October 7, 1996 - Agreement with Chatterjee Group, an Affiliate of Soros Fund Management. (24 3/4)
September 17, 1996 - Amati and XEL Comm. -- Plans for Business Agreement on Internet Access Products. (24)
September 11, 1996 - Amati Reports Financial Results for the Fourth Quarter and Fiscal Year 1996. (20 3/8)
September 6, 1996 - Mr. Kim Maxwell (Chairman of the ANSI T1E1.4 Committee) says CAP coffin nailed shut as far as ANSI standard adding second line code. Who is she? (18)
September 4, 1996 - Amati Moves to Larger Facility Consolidates Operations into one Building. (17 5/8)
September 4, 1996 - TV Quality Video Conferencing Over Ordinary Phone Lines Demonstrated by 8x8, Inc. and Amati using ADSL Technology. Founded in 1987, 8x8, Inc. (formerly Integrated Information Technology), is an innovator in high-performance silicon and software products serving the multimedia computing, communications, and consumer marketplaces. 8x8 is the world leader in the explosive markets of ISDN and LAN-based video conferencing, POTS videophones, MPEG encode/decode, and multimedia-for-PC. A privately held company, 8x8 is headquartered in Santa Clara, CA with European operations based in London. The corporate website is located at 8x8.com (17 5/8)
September 1, 1996 - Amati Dir. LATIF, AAMER bought 25,000 shares at $17.75. (This was reported to SEC in December, 1996)
August 14, 1996 - GTE/Microsoft announce trials in Redmond, WA, with AMTX modems in Phase II. (17 1/2)
August 14, 1996 - GTE and Microsoft Launch New High-speed Modem Technology Trial to Provide Faster Internet Access. Amati to provide modems. (17 1/2)
August 14, 1996 - GTE Calls its Industry-first, Data Asymmetrical Digital Subscriber Line (ADSL) Trial in Texas a Success. (17 1/2)
August 7, 1996 - Amati and Tadiran Report Positive Results in ADSL Video-on-Demand Trial in Israel. (17 3/4)
July 30, 1996 - Stock price bottomed at 10 1/4, then began upward trend.
July 21, 1996 - InterOperability Conference, Nashua, NH. (14 3/8)
July 24, 1996 - Volatility Index topped out at 28.45 and just when everyone thought the sky was falling, the bull market continued.
July 17, 1996 - General market reversed it drastic downtrend (correction) and bull market continued.
July 2&17, 1996 - Amati insiders sold shares (HOOD JAMES D 20,000 shares at $18.69 and Treasurer MEDEL TERESITA 2,000 shares at $14.00) Insignificant, stock already in downtrend.
June 26, 1996 - Ericcson announces ADSL products. (20 13/32)
June 25, 1996 - Amati announces the industry's first "board-level modem design product for ADSL services using standard DMT technology. "A 2-daughter board set, and central office module (COM) and remote subscriber module (RSM)." (21 3/8)
June 25, 1996 - Amati announces a new version of Overture 8 specifically designed for Internet access. (21 3/8)
June 25, 1996 - Amati announces Memorandum of Understanding with NEC Corp. to Develop VDSL Transceiver LSI. (1st agreement to develop VDSL/DMT). Amati CEO, Steenbergen says, "We believe the VDSL market will prove to be even larger than the ADSL market and we expect initial product shipments mid-1997." (21 3/8)
June 24, 1996 - Alcatel announces ANSI-compliant ADSL/DMT products. (22 7/8)
June 24, 1996 - Amati's Dr. John Cioffi speaks at SuperComm '96 in Dallas. (22 7/8)
June 24, 1996 - Amati announces Overture 8 ADSL/DMT modem for Internet access. (22 7/8)
June 24, 1996 Amati announces industry's first standard ADSL/DMT core design module set -- based on Amati's Overture 8 ADSL/DMT modem. (22 7/8)
June 21, 1996 - Amati releases information to attempt to clear erroneous facts published today (Licensing issues misrepresented in recent reports) (21 1/8)
June 12, 1996 - Motorola announces CopperGold, based on Amati's ADSL/DMT
technology. (29 7/8)
May 31, 1996 - Amati to Sponsor T1.413 ADSL Interoperability Workshop. Workshop will focus on harmonizing DMT. "sincere intention of interoperation of various vendors' DMT modems." (31 3/4)
May 31, 1996 - Andy Grove, CEO of Intel, says ADSL is solution for digital broadband, not cable. (31 3/4)
May 28, 1996 - General market correction began. Correction bottomed about July 16, 1996.
May 24 to June 03, 1996 - Amati Directors sold shares (VP GRADY, JOSEPH H S 05/28/96-06/03/96 17,500 shares at $31.93-$32.00 *** PR STEENBERGEN, JAMES E S 05/31/96 12,500 shares $31.37-$31.75 *** VP BERRY, BENJAMIN W S 06/12/96 6,000 shares $29.12-$30.12 *** DIR LUCAS, DONALD L S 05/24/96 30,000 shares at $30.37-$34.87 Note: An examination of the time suggests these sells may have been more a matter of foreseeing a general market top than in seeing bad times for the company. As evidence -- nothing bad has happened since then except the general market correction and the accompanying Amati correction.
May 24, 1996 - Stock price topped at 36 1/2, closed at 33 1/4, then downtrend began.
May 22, 1996 - Amati and Telecom of Switzerland report encouraging results in ADSL interactive video trial -- VOD, teleshopping, information and games. (28 3/4)
May 20, 1996 - Amati presents at Van Kasper Growth Stock Conference. Press release mentions VDSL. (28 3/8)
April 29, 1996 - Amati and Motorola Announce Next Step in ADSL/DMT Licensing Agreement . They release plans to jointly develop ADSL modem products; list of products includes "an ADSL/DMT core module that will enable technology to be incorporated into existing network equipment." (15 3/8)
April 5, 1996 - Amati Director sold shares (CIOFFI JOHN M 04/05/96 10,000 $9.00 leaving him with only 894,920 shares). Moral of this story -- don't sell when the good Doctor sells.
April 2, 1996 - GTE expands ADSL data trial (adding Amati) -- announces move to enhance high-speed testing. (8 1/2)
April 2, 1996 - Amati and Sourcecom demonstrate Internet access at speeds far in excess of ISDN. (8 1/2)
March 14, 1996 - Amati insider sells shares (DIR CIOFFI, JOHN M S 03/14/96-03/29/96 90,000 shares $7.06-$9.00 leaving him with 894,920 shares).
February 23 thru March 27, 1996 - Amati insiders sell shares (DIR LUCAS, DONALD L S 03/27/96 10,000 shares at $7.00 *** SEC MEDEL, TERESITA O S 02/23/96 5,000 shares at $7.00 *** SR VP BIVOLCIC, DAVID J S 02/23/96 12,500 shares at $7.00.
February 21, 1996 - Bell Atlantic says ADSL will not be used in complete build-out because it cannot handle live TV; mentions "newer hybrid of ADSL that can handle speeds up to 52 Mbps and is being evaluated by BA and others." (5 1/2)
February 20, 1996 - Second Quarter 1996 Results. (5 5/8)
February 6, 1996 - GTE announces ADSL trials in Texas. Amati not mentioned. (5 7/8)
January 9, 1996 - Jim Steenbergen appointed as President and CEO (8)
November 28, 1995 - ICOT completes the acquisition of Amati and name is changed to Amati Communications Inc. (4 3/4)
********* FUTURE (some are speculation, some are not) *******
Other companies to watch for news: NEC, Motorola, Texas Instruments, GTE, France Telecom, Telecom of Sweden, Alcatel, Microsoft, XEL Comm, Fujitsu, Telstra, Sourcecom.
A new associate company, an integrator announcement?
NEC -- VDSL developments and perhaps trials announced by NEC and Amati
Motorola -- CopperGold announcements/deliveries.
Texas Instruments -- Amati and TI product announcements
GTE -- more trial results and announcement of plans
France Telecom -- More news
Telecomm of Sweden -- More news
Alcatel - News of Amati benefits?
Microsoft - Involved in trials, will they find a way to profit from xDSL?
XEL Comm -- News on Amati/XEL Comm products
Fujitsu and AMTX partnering in the BT RFP?
News of Telstra trial
January 1997 - Dr. Cioffi and Motorola are speakers at SuperCom 1997.
February 20, 1997 - Second quarter 1997 results (-0.11 loss is expected)
May 5, 1997 - Las Vegas InterOperability show.
May 15, 1997 - Third quarter 1997 results (loss is expected)
July 21, 1997 - InterOperability Conference, (date is approx)
September 11, 1997 - Financial Results for the Fourth Quarter and Fiscal Year 1997. Will we see a profit in this fourth quarter?
December 10, 1997 - First quarter of Fiscal Year 98 (first + ??)
December 20, 1997 - Annual Stockholders meeting (approx date) |
