Hi, Roy. Just wanted to make a quick comment not directed to you, but to the board generally. I have heard several times from several sources that the current sensor market is a $450 MM annual opportunity. We all should keep in mind that KVHI's product will be considerably cheaper than existing products, which decreases the revenue size of the addressable market. Say, if KVHI's product is 1/2 the price of existing products, and KVHI is able to capture 10% of the market in 2002, that equates to about $20-25 MM in annual revenue for KVHI the first year. Despite the size of KVHI's partner, for us to hope for any more than 10% market share in the first year seems overly optimistic (and, in fact, some will argue even the 10% projection is pie-in-the-sky). Frankly, even at 10% market share, KVHI's stock price would increase dramatically IMHO, and that's not even including the affect of the fiber products and satellite antennae products.
As you know, I'm a long-time holder, and continue to hold my position. I just want to keep the board's expectations grounded, which is in fact difficult for me to do personally given the extraordinary opportunities presented to this little company.
RK |
