Bux,
Here is some inference on the numbers:
Royalties and contract services = 7,648
True Royalties = 4,300
True contract service = 3,348
Based on announcement.
On a percentage basis True Royalties represent 56 % of the bundled number.
3rd QTR numbers were:
Total bundle: 10,321
True Royalties: 3,000 (Per qtrly report)
True Contract Services: 7,321
On a percentage basis True Royalties represent 29% of the bundled number.
I've put together 4rth qtr numbers based on the yearly figures as well (Though these are not absolutely accurate).
This latest report stated that True Royalties during Q1 of 1999 were .6 mil, doing some basic math this translates, again on a percentage basis to 24% of the bundled number (if we extract the Nokia one time revenue number as non recurring).
What this means is that the true revenue stream for the company has transitioned to Royalties and exemplifies the transition as outlined in prior years.
The final step in infering that Contract services are bundled as "Integrators," is due to their steadily diminishing value to the revenue stream (On a percentage basis).
I admit that their is some "Transitioning," and obscurity to the reported figures, but this again can be accounted for in the "Repositioning," line items earlier reported during Q2 1999.
The bottom line is that it appears that company has repositioned themselves, that the underlying fundamentals are solid, good cash position, etc.
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