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Technology Stocks : KVH Industries, Inc.
KVHI 5.720-4.2%Nov 3 9:30 AM EST
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To: Roadkill who wrote (1017)1/9/2002 12:55:57 PM
From: akmike  Read Replies (1) of 7249
 
Hi RK,

I don't have the Needham report on this computer but my memory is that the analyst projected 46.3 mil. for 2002. His report was done in Q2 of last year. Martin yesterday projected a range of 42.9 to 46.2. I doubt that his projection included any revenues from the two new product initiatives or even the current sensor knowing how much slippage can occur when you are trying to push product to early adopters. I am sure that he was highly confident of his projection that the military business would double next year as he already has that amount in shippable backlog. That would account for a little over half of the projected increase. It would not take anything more than for communications to return to trend and FOG to maintain trend to achieve the projected increase. I think he is very confident about each of these. On communications, he elaborated on the very favorable (for KVH) take rate on onboard TV's in the SUV and minivan markets. We know from the prior conference call that FOG production capacity was planned to be increased by 50%. There isn't a lot of certainty in the world right now and anything can happen, but I believe that it would be valid to label the projection conservative.
As to Needham, they made a decent first effort at modeling KVH but were woefully high on the expense side which has allowed KVH to significantly beat their bottom line numbers even though the toplines were not in line.
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