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Non-Tech : Simula (SMU)
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To: hppolk who wrote (1025)3/24/1998 2:57:00 PM
From: hppolk  Read Replies (1) of 1671
 
This is what I took away from the conference call. First of all 4q-97 continued to be impacted by weak profitability in 16 - G seating. Otherwise ITS and government margin were improved. 1Q-98 reveneue should meet or exceed 4Q-97. Also, 1q-98 improvement should equal or exceed 3Q87 - 4Q 97 improvement. In other words, breakeven should be achievable. Sean also commented that he is comfortable with 60 - 70 cents range for the year. Historically, high parts inventory for 16-G was cleared out in Q4-97. BMW 3 series began shipment in 1Q-98. Will ramp-up as year continues. The second ITS customer is likely larger than BMW and the supplier is Autoliv. The Delphi relationship implies that they are in serious discussions with a prospective ITS customer. Most of the increase in 4Q administration expense is one time in nature. Parachute sales should begin in 3Q-98. Ailine airbags is active again and after a test in the next few months the application will be resubmitted. Possible impact in 1999. All in all I was left with a positive impression.
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