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Technology Stocks : CPCI - great earning , BARRON's suggest
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To: csm who wrote (560)7/22/1998 1:52:00 PM
From: csm  Read Replies (1) of 586
 
Biggest news on the conference call (for me) was that Cory Miller, CFO, is gone. CPCI looking for a new CFO with some experience in acquisitions.

Targets for next Q $8M in revenues and 2-3› earnings.
For next year $38M and 50›. Company says they are comfortable with the coming Q.

Broadcast market, via AVID, looks like the most promising to me. Company says entertainment sales will have to be to second tier production companies.

OEMs are all trying to convert to NT and having serious problems. NT does not provide the same performance that UNIX servers have been providing. THis is reason for serious delays with SoftImage, for example. This will prevail for another 6-9 months.

They still have $35.7M in cash. Purchased about $1M of stock but not likely to go much further due to some technicalities about pooling stock and a 10% limit. THey could purchase close to $2M more but will wait for new CFO and see what happens.

Some problems blamed on slow SGI order processing and the need to sort out commissions etc. Is about $1.2M in sales from last Q that will feed into this Q from SGI and a further $700K or so from government. So there's $2M in sales carry over.

Have made some internal adjustments to ensure engineers and sales people strongly focused on specific markets.

R&D is probably at its peak, percentage-wise. Gross profits were up due to favourable pricing on 18G drives and competition, with 3 suppliers.

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AS always, I feel the company has great potential, but they sure are having trouble tapping into it.

Stuart.
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