Robert,
I believe capacity includes both Micrascan IIs and IIIs.
FACTS: The 55 - 75 figures are current analyst estimates.
Their bays have increase from 35 to 50.
They have orders for 75 Micrascans on the books. 48 have been included in bookings which mean they will ship in the next 12 months.
INTERPRETATION: They produced 14 this quarter so 56 should be booked, but they could book this quarter based on the previous quarters' 12 units. To ship 75 in the next 12 months, they would need to average 19 per quarter. If we assume 15, 17, 20, 23, they end the year with a 92 annual capacity. If they do 18, 22, 26, 30, they ship 96 and have an annual capacity of 60% of their ramp goal. From the conference call, I definitely got the feeling that SVGI did not want to estimate their production capability or next years output. I believe this is a sensitive competitive issue right now.
Cary |
