Kopn CC July 25,2002 Part I
Rev up 18 per Q-Q
EPS Loss down as a result
III-V: Rev up 23 per q-q
increasing demand from power amp customers added in last year,plus older customers that are quiet to date
still not large volume yet, still early stages
new handsets will require more amps
InGaP HBT in good position to transition to new technology, most customers designing with InGaP
Cyberdisplay: Rev 15 percent q-q increase, 112 per y-y
growth due to new camcorder due to JVC, Matishita, Samsung all greater than 10 percent customer
2 new customers MKE partnership(Pansonic and Hitachi North America)and
shipping over 400,000 per month, 30 percent of all shipments worldwide, gainng share
cyberdisplay not applied to a single app
last few q's have commercial and military contracts for cyberdisplay
mentioning other cyber display products introduced
Financials:
III-V up 23 percent q-q
Cyberdisplay up 15 percent q-q
$700,000 in r&d contracts
loss 1.6 mil in q, down from q1 2 cents vers 5 cents
cost of goods sold down due to increased volume (given fixed cost), lower labour (shipping to Korean for back end packaging) and component cost
Projecting r&d 15 to 20 percent of revenue
Projected SG&A 10 to 12 percent of rev
Other income down by 400,000 due to weaker US dollar causing foreign exchange losses
cash 112 mil versus 105 mil q-q
3 mil generated from operations, 4 mill due to selling of Micrel investment
ASP's declined 10 to 15 percent for the year,as expected.
JVC, Matishita and Samsung and Skyworks greater than 10 percent customers
DSO's 30 days
Micrel investment now valued at 9.4 mil
III-V 4 inch wafer 80 per of rev, 6 inch 20 per of III-V, InGaP rev 30 per of sales
Fab utilization 60 percent
Cap Ex 2 mil to date, 3 to 4 in expenses rest of years
12.5 mil good will impairment
Q3 Guidance:
Rev up modestly in both product lines, seeing solid demand
Strategy to stay close to customers, improve product line, have good cost controls
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