AIT Advanced Information Technologies Corp. Message Board

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Gold/Mining/Energy : AIT Advanced Information Technologies Corp.

AIV 5.710

+0.3%

Nov 26 3:59 PM EST

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To: hugh thorne who wrote ()	2/6/1998 6:56:00 PM
From: David1	Read Replies (1) of 130

I found the AIT annual mtg on Thursday Feb 6 to be surprisingly upbeat. After restructuring/downsizing, AIT President Bennett said co would be making money in the fourth quarter, if AIT continues to experience the same revenue stream(approx $20 mill in sales) as FY 96/97. But management forecasts some growth in sales this year. Bennett put a positive spin on the loss of the US Customs contract saying Customs bought (and wanted) a cheap inferior product with minimal functionality. AIT's target market for readers are the airlines which need a multifunctional product like AITs. British Airways is using AIT readers and as a result is saving money/time on the check-in process. UA is interested. On the Interactive Security products (ISP) side, management has high hopes for Rapid Eye selling into the larger commercial market (esp to banks) rather than for just for security purposes. Citibank in NYC has demonstrated savings with fewer scams, less vagrancy, less false alarms, etc. by using Rapid Eye for ATM lobby management. Other products such as Comfile (for recording conversations in small call centres etc.) and Genie (id cards etc) demonstrated well and seem to be surviving in the market. I certainly did not get the impression that co. is on the ropes - in spite of dismal stock performance and miserable earnings (and inaccurate article in Ott Citizen). Bennett said AIT had $17.6 mil of working capital and $ 4 mill line of credit at bank. Having satisfied top rate and demanding customers such as BA and Citibank are a positive sign; if co gets a few other similar sales AIT could be a turnaround, which is about time for long suffering shareholders.

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