Bob, here are some of the points I noted down :
Desai, CEO - Migration towards Intellisourcing service offerings, fixed price, high value business model; Many new customers based on competitive bidding, track record etc...
- Sales growth of 30% (on an annual basis)was a little below estimate, but profit margin exceeded expectations; He stressed again and again - SYNT is making every effort to keep focus on recurring revenue projects NOT y2k projects... SYNT is/was disciplined enough to walk away from short term remediation projects...
- As some companies are pre occupied with y2k, to keep the pipe line strong and competitive, SYNT is increasing sales force 100%, in the next 6 months to focus on Fortune 1000; He also mentioned about Forbes ranking...
John, CFO - Average billing rate $57.25/-, For third quarter top 2 customers 36%, top 5 customers 57%, top 10 customers 69%, Gross margin improved from 23% to 36% in the last 3 years, likely to improve again, Global turnover 9%, Y2K revenue 18% in 1998
My impression : Company has the right focus, but the industry is getting competitive day by day;
I hope this gives some info. The conference # 1 800 633 8284, password 4703482
DB |
