Just got back home from the anual meeting. There should be a couple of posts you will see in the very near future regarding the meeting. Since I am one that is extremely interested in how the company is run, I probably better stick to that rather than to ramble on about products that are over my head. I am going to go mainly from memory here also so please forgive me if I forget certain items that you feel are important.
The meeting started promptly at 10:00. They dispensed with the usual items and proceeded into a slideshow explaning how MRVC is fitting into the scheme of things regarding networking and their FO products. Just a few points that were highlighted throuout the slideshow and speech were.......
- the market for gig ethernet products going from an estimated $543 million dollar market in 98 to a $2.9 billion market by the year 2000. -Fiber products account for 25% of total sales and networking accounts for 75%. THis number is a tad misleading because of the integration of fiber products into networking. This would change the values to roughly 30% fiber versus 70% networking.
-MegaSwitch 2 has sold over 10,000 units.
-There was an emphasis on relying on layer 1, 2, and 3 products. I expect we will see more on this in the future.
-Looking 1 yr ahead computer telephony integration, or video conferencing will create an even greater market for product.
-It was noted that the dual speed 10/100 ATM switch was to market roughly 6 months before their competitors.
-Showed strong revenue growth with networking at the 146% mark.
-Four items were noted for the future of MRVC. First capitalize on R&D and management. Second, Expand product offerings. Third, Increase market share. And last capitalize on acquisition opportunities. note** (they mentioned a couple times about hiring a 3 com employee in a managerial position)
-Mentioned new inroads to China. There will be plenty about this later on.
-Strong management was brought up. They described themsleves as busy, involved with customers, always on the move, able to capitalize on their technology, stable, own 27-28% of the company when we include options so they have a stake in MRVC's success.
-mentioned in brief with no detail about a show coming up in a few months. I am assuming an advertising run of sorts.
I have left some things out that some of you will find of interest but there is rthe initial start. I tried my best to take notes accurately, but at times it became exceedingly difficult. The next post will deal with the question and answer period.
Sam |
