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Technology Stocks : ocom breakthrough technology
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To: mod who wrote (467)7/6/1998 5:34:00 PM
From: Q.  Read Replies (1) of 994
 
It will be interesting to see what the new CEO can do.

His previous position was basically a division manager of GIC, which is a billion dollar company. I was previously unfamiliar with GIC, but after a quick check of their 10Q, I see that despite the tremendous difference in size, it has three things in common with OCOM: an accumulated deficit on the balance sheet, a heck of a lot of cash burn last quarter, and recent layoffs.

From OCOM's news release you would think that this guy's division was highly profitable. What it doesn't tell you is that sales were dropping. Which is sort of a curious result for somebody proclaimed as a 'turnaround expert'.

Of course it is possible that I misunderstand this situation, as I have only briefly researched they guy and his former co.

Here's everything that the GIC 10k said about his 'videocipher' division at GIC:

<Worldwide satellite sales decreased $50 million, or 8%, to $575 million in 1996 due to lower sales volume of digital satellite receivers to PRIMESTAR and VideoCipher RS-TM- analog satellite modules and receivers, >

<The lower gross profit margin also reflects the shift in product mix from higher margin VideoCipher RS-TM- analog satellite receiver consumer modules to new advanced analog and digital television system products, which initially carry lower margins.>
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