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Technology Stocks : Spectrum Signal Processing (SSPI)
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To: andy harrison who wrote (237)10/28/1997 10:38:00 AM
From: ECAC Hockey  Read Replies (1) of 4400
 
Quick summary of conference call.
Barry Jinks CEO and Marty McConnell CFO were the speakers.

Company is committed to taking a more proactive stance towards Wall Street in order to increase the visibility of the company
1) Conference call will be a regular quarterly occurrence
2) Developing close relationship with Penn Merchant PMG, and has had discussions with three analysts within past month.
3) Presenting at high profile investment show next week in San Diego

1997 was described as a transition year for Spectrum with the following goals
1) Reduce dependence on small number of OEM's(ala IBM LMT), begin to target vertical markets. Spectrum's sales have been in the past highly dependent on its partners successes or more notably failures.
2) Exit low margin desktop CT business, aggressively pursue high margin DSP Systems business.
3) Develop internal product lines and reduce dependence on LSI licensing. Spectrum's business is to surround TI's DSP's with complimentary technology.

Financial Summary
1) Core DSP Systems revenues up 65% ytd to 23M
2) Desktop telephony IBM revenues down 75%
3) This change in product mix has resulted in gross margin expansion ytd to 57% vs 48%
4) Sales growth expected to resume traditional 40% rate starting q1 1998.
5) 1997 year over year sales comparisons have been difficult due to declining desktop CT business. Desktop CT became a non-factor in q1 1997. Year over year comparisons thus become much easier starting q1 1998.

Acquisitions
1) Technology : Looking at DSP algorithm developers/telecommunications software/DSP module companies in North America.
2) Looking for distributors/channel partners in Europe and Asia
3) 3L acquisition is complete. 3L will provide hub for SSPIF's European expansion plans in '98. 3L provides unique real time operating systems expertise

Forward Looking statements
1) In negotiations with a semiconductor company for the licensing of its Hurricane ASIC chip.
2) Machining deal in the works for motor control
3) Analyst coverage is a matter of time, it is difficult to get coverage when not actively pursuing a financing or offering.
4) 100M sales target by '2000
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