Full text of coverage:
First Security Van Kasper Initiating Coverage On WaveRider
Communications, Inc. with Buy Rating
SAN FRANCISCO, Aug. 25 /PRNewswire/ -- The following is being issued by First Security Van Kasper, a member of the National Association of Securities Dealers,
CRD number 7665:
Kevin Dede, CFA, Telecommunications analyst at FS Van Kasper, has initiated coverage on WaveRider Communications, Inc. (Nasdaq: WAVC - news; $5 7/8) with a
Buy rating.
Below are direct quotations from Mr. Dede's research report:
We are initiating coverage of WaveRider Communications Inc. with a Buy rating.
WaveRider's equipment serves both commercial and residential use at installation and service price points that are extremely competitive alternatives to cable and
DSL price points. Most importantly, WaveRider's equipment installs quickly and easily, obviating expensive ``wired'' infrastructure.
We think that WaveRider's revenues should grow from $6 million this year to about $44 million next year, and we expect the company to breakeven in 4Q01.
WaveRider's wireless products function in unlicensed bands of 2.4 GHz and 900 GHz and use low interference spread-spectrum radios. The advantage is that
service providers, assuming they have ``roof rights,'' can immediately begin installing equipment and providing service without incurring the heavy expense of FCC
spectrum licenses.
WaveRider's LMS equipment uses a point-to-multipoint architecture (similar to a cellular phone network) that can provide high-speed Internet access for literally
thousands of subscribers over varied topographies (line-of-sight antenna alignment is not a critical issue).
For FY00, we forecast that WaveRider will lose $0.28 per share; for FY01, we forecast that WaveRider will lose $0.09 per share.
First Security Van Kasper makes a market in the shares of WaveRider Communications, Inc.
First Security® Van Kasper is a private brokerage and investment banking firm. Since its founding in 1978 as Van Kasper & Company, the firm has been providing
exceptional services and original investment advice to a select group of investors and businesses. The firm's offices are located in
San Francisco, Fresno, Los Angeles, San Diego, Newport Beach, San Jose,
Sacramento, and Walnut Creek, California, as well as Phoenix, Arizona and
New York City, New York.
Investments made through First Security Van Kasper: (1) are not insured by the FDIC; (2) are not deposits or other obligations of, or guaranteed by FSVK, First
Security Bank or any of its affiliates; (3) are not guaranteed by any Federal governmental agency (excluding U.S. Government and federal agency securities); (4) and
are subject to investment risks, including possible loss of principal amount invested.
The study on these pages is not a complete analysis of every material fact regarding any company, industry or security. The opinions expressed herein reflect the
judgment of the author at this date and are subject to change without notice. Facts have been obtained from sources considered reliable, but are not guaranteed. First
Security Van Kasper, its directors and employees and their families may have a position in the securities of the companies described herein, and may make purchases or
sales while this report is in circulation. Additional information is available upon request. |
