M1
So clearly something happened with Tellabs/Verizon Between the Roth conf in late Feb and mid to late March....
After the Roth investors conf.on February 22, we were all complimenting Noam on a brilliant presentation.
Random quotes words and phrases from the Roth conf.
He attached the word "growth" to Optical Components and "profitability" to Network Equipment.
2005 revenue "should exceed" $300mm. B/E or slightly profitable for the year.
Triplexers projected to show "very strong revenue growth" in 2005
Q1 05 will show another YoY growth in revenue. MRv is growing quarterly revenue consistently YoY. The pace of growth has accelerated. (didn't quite get the phrase but that was the sense.)
Shay made a point of insisting that 2005 revenue growth should be much faster than increases in OpEx
.
Clearly, Near and Luminent got caught unawares by a significant change of direction on the part of Tellabs and the rapidity of the changeover to the new Vinci ONT in this narrow time frame. Should they have been surprised?? I leave that for others to decide.
But when the dust settles and Q3 comes around, presumably that same opportunity for selling millions of Triplexers is still out in front of them if they don't screw it up...
At the end of the hunt, we have only Noam’s integrity and ability to manage the company to depend on backed up by the discipline of this………….
CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER
REQUIRED BY RULE 13A-14(a) OF THE EXCHANGE ACT
I, Noam Lotan, certify that:
1. I have reviewed this Annual Report on Form 10-K of MRV Communications, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States;
c. evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d. disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
a. all significant deficiencies and material weakness in the design or operation of internal control our financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: March 7, 2005
/s/ Noam Lotan
Noam Lotan
President and Chief Executive Officer |
