California Amplifier - 2 Message Board

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Technology Stocks : California Amplifier - 2

CAMP 6.200

0.0%

Jan 8 3:59 PM EST

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To: Mr. Miller who wrote (2188)	7/17/2000 9:20:01 AM
From: Challo Jeregy	Read Replies (1) of 2267

from a shareholder - attending Friday's meeting- Annual Shareholders Meeting by: invstng4gains (53/M/Alhambra, CA) 7/15/00 10:28 pm Msg: 18562 of 18664 Some information garnered from the operating people show the growth during the last year. Camp has 10 manuf lines compared to 3 a year ago and is operating on 4 shifts. An AM and PM weekday shift and an AM and PM weekend shift. I drove by the By Camp's buildings after the meeting. Parking lots for CAMP and MICRO PULSE were filled and there were no available parking spots on the street. Sat is 70% of Revenue and Wireless is 22% and they expect the revenues to be balanced in the future. The question is how far out is the future. I will try to get that point clarified on Monday. Camp believes that Wireless Cable Modem and Transceiver will integrated within 2-3 years. The technology to integrate would be complex but may result in a strategic joint venture or an acquisition. Fred presented a chart which shows Camp having less than 50% of the MMDS revenue to I believe over 90% within 10 years. Camp indicated that they have 100% of the Sprint Business, 100% of the Look business and are participating in the WCOM field trials in Boston and Jackson(Miss). Contracts should cover 85% of the line of site homes in US. MMDS market share projections for high speed bandwith(Industry projections made by a independent Org) 2001(5%); 2002(22%); 2003(34%). There was also a chart showing unit count but I was not able to get that information into my notes. Data will be obtained and updated in a subdequent message. Camp presented a screen on Analyst profections of Rev 118 Mil; Gross Margin % 28%; operating expenses at 16%. He felt that gross margins should improve and I asked the question if they could return to historical highs of near 35%. It was indicated that was the companys goal and the higher margined MMDS business should contribute to improved margins. Camp seemed to be comfortable with the analyst projections and indicated that an extrapolation of first quarter revenues would exceed analyst projections of Rev. Also Camps Friday press release indicated comfort with 2nd quarter Analyst rev proj of 34 mil. CAMP was asked if they required additional funds to finance future growth and it was indicated that cash flow would be adequate to fund anticpated growth. They were asked about competion in MMDS and of the two other significant competitors Pacific Mono? went out of business and that Andrew is also a formiable company, new competitors would be Remec(employees from Pacific Mono?) and Brezze Com. My impression from after meeting comments was that CAMP is by far the most efficent and cost effective supplier and entry requires a substantial learning curve. Optimized Shareholder value was a question of mine and I left the meeting feeling that management is working hard to obtain additional major brokerage coverage, however this task is made more difficult when the stock has been as volatile as we have seen since the March highs. Also there was an analyst from Sutro & Co at the meeting. There was no mention of a stock split and it appears that none would be considered at anywhere near the current price. I am a long term shareholder and while Company's comments were conservative, I left the meeting feeling that the best is yet to come. messages.yahoo.com

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