I had just pasted Dax's letter to my wp file, so I hope it's okay that I paste it here, too, Dax. It's much appreciated. Dax wrote:
Nothing earthshattering, but I spoke with Steve Denty, President of
Mikros today. Actually, funny thing is, he returned my phone call,
and I was 5 seconds into the conversation when your Email came across.
We discussed the announcement some...I read it as he quoted from it
(g)...nothing earthshattering as I said. He generally seemed pretty
excited about things though, the sale itself, the record sales for 97.
I inquired of the effect of the sale and some specifics - he was
reluctant to discuss until he presented to the board. I was unable to
ascertain (get it out of him) the effect of the loss of the government
sales and the remaining commercial revenues, however he did indicate
that the removal would help the financials because of the difficulty
making money at all with cost-plus and/or fixed contracts with gov't,
also reduction of defense budgets, etc. The company will be focusing
now on the commerial applications they've been working on, esp. with
giant Safeguard, their current bed partner.
Regarding the record sales, I noted how wonderful the year-over-year
comparisons would look, and he indicated that the sales were better
than recent years as well. He's basically waiting on the auditors to
finish their job, before releasing the information and the 10-k. Note
that last years 10-k was filed March 27, 1997.
He was generally very pleasant and upbeat. He's only been with Co.
since the Board brought him in last June/July of 1997. He indicated
he has been working hard to improve the Co. and we would see that
reflected in the 10-k in run-rates etc.
dax |
