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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: Sunny Jim who wrote (2456)1/14/1998 10:59:00 PM
From: van wang  Read Replies (5) of 3431
 
GEMS replied--although ntg specific about 4Q:

1) Asian business is done on LC basis..so consider what ever receivable from Asian counterparties to be a non event...I said GEMS goes down only in an event of writedown...no comment--no sensitivity to this topic...hence, IMO no writedown

2) From conversation, IMO GEMS will not preannouce...expect date to be set soon possibly by Friday or week of Jan 19

3) GEMS pointed out the ambiguity of MOT's release--went through all the paragraphs related to the paging business...commented on MOT US and Asian business does not break out infrastructure and end devices...also pointed out the divergence in what GEMS reported and what MOT reported in 3Q 1997

4) GEMS expect continued demand from Asia (esp. China) and Latin America...but indicated the timing could be affected by crisis particularly in China...Dutch deal was nice because it was deal in Ericsonn's home field

5) paging suscribers 100MM in 1996 expected to reach 200MM worldwide in 2001

6) Integrated network will be highlighted more clearly in this analyst call...commented that they are taking mkt share away from Boston Tech, Comverse, Octel...expect ODC will be accretive in 2Q revenues and earnings...Nortel relationship is big...other big distributers include Bell Atlantic, GTE and Omnipoint...GEMS thought they have a product advantage...I asked how...they said they could let me talk to an engineer..I said lets do it after release

7) NPCS is beginning to roll out...tried to pin GEMS on revenue written for 4Q...GEMS wants to be clear that deal signed in 3Q may be written in 4Q depending on delivery timescale...deal dependent--revenue recognition guidelines...I think the American paging, Conxus NPCS equipment was delivered 4Q (IMO)...also some of intl Chinese networks..no comment by GEMS...remember 3Q GEMS pointed out increase in domestic sales before MOT this Q...GEMS feels there is pent up demand in the domestic US mkt for infrastructure equipments...just that some are still financially constrained to execute business plan at an earlier timescale...IMO I thought this may have been why GEMS bought wireless access in anticipation...we know that PAGE has already bought wireless access 2 way pager

8) TekNow's press release took them by surprise...not a competitor...comment was made that Gary Smith saw the release and was alittle shock...they have a complementary relationship with TekNow...dont regard them in the same league as MOT competition

cheers
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