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Technology Stocks : Hummingbird Comm. (HUMC)
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To: Martin Goldenberg who wrote (1574)4/28/1998 1:25:00 PM
From: Paul Loucks  Read Replies (2) of 2018
 
Annual meeting very upbeat. Shareholders are still in love with HUm.

Summary:

Speach
1) HUM to have $250M US in revenue within two years
2) Andyne leg to achieve 8-10% profit on revenue this year
3) PC - Enterprise leg of company generating $6-8M US in profit per quarter

Q&A Sessions
1) Shareholder recommended stock split - Fred said that he was going to do it if the stock had held at $60. Fred did not seem that interested.
2) Fred wants to move into more consulting in the Data Warehousing area. Andyne did very little of this prior to the acquisition.
3) Data Warehousing business will target particular industry sectors.
4) Shareholder wanted Fred to pay dividend; again he did not show any real interest
5) Fred confirmed that the two big data warehousing sales were in the $200 per seat range.
6) Of the connectivity revenue - 70% Exceed; 30% Naestro/Explorer
7) Two distinct sales forces - one for Data Warehouses; one for connectivity
8) Looking at acquisitions in the $100M - $300M range. Looks like it will be another pooling of interest.
9) The relationship with Bull may turn very positive
10) Phil Soper gave another plug for HUM
11) Wouldn't give out Andyne numbers but said they were better than projected
12) Bought the German company because Andyne had zero presence there
13) Fred said that he wouldn't be asking for an increase in the number of employee options next year.
14) Revenues of the German consulting firm - $8-9M US and therefore he paid about 1.2 times sales.

Paul
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