Shareholders Meeting 3
TAVA has a slide of a logarythmic progression of revenues over the past four quarters, with decreasing costs associated with income generation over each quarter.
The plan is to refinance the Tandem debt by June 1, 1999.
1999 Targets include 100 consultatnt in Tava consulting by year end. Tava Consulting is also involved in total systems integration (linking different components of manufacturing through vendor sales)
Other goals - grow Airport Operations. Tava One Source. Develop Web Enabled Products.
Reduce Debt costs
Expand Institutional Ownership
Continue to improve Profit and EPS performance.
Complete Oracle Projects by June 1
Complete Oracle Financials
Further improve WAN
Expand Best Standards and Practices
Doug Kelsal Financial Objectives
Doug threw in an unappreciated comment about share price tied in to those having unrealistically short expectations for the company. ALso mentioned he firmly believes that share price is always fundamentally related to the underlying financials, seemingly putting in his protest to the emphasis on getting the story out.
His Financial Objectives
Growth in Earning per Share
Strong Balance Sheet
Support Growth
Make Investments, Internal Investments
Access to Capital
Equity and Debt
Improved Internal Financial Information Systmes – now unified from five separate systems
Strong fiancnial improvement leads to Shareholder value.
Financial Review
Revenue Mix 16.4 first six months of 1999 licensing fees to gross revenue. Sorry JDN, this is the only indicator of Licensing fees I could get despite direct questionning.
Financial Performance
3 sources of revenue
resale engineering services, 50 percent profit margin
material and subcontaact, 7-10 percent
product license 85 % profit margins
Headcount – added 300 1998 Dec 98 -620 employees, expect to add 200 more.
Revenue 4 consecutive quarters of increasing profitablity. Logarithmic.
Stong Balance Sheet
Trying to increase working capital equity
They are very concerned about dilution.
Acquitions from here on out will "generally be accretive"
Simplified Capital structure
Prudent Use of Debt
Working capital is now 25,0000 up from 180,000 two years ago.
Debt to networth ratio .19
7 ½ million cash
Ongoing - Reduce share overhang and classes of options, refianced debt consilidation devt from subsidiaries, maintain balance of debt and equity. No private placements since Nov 1997, no plans for more.
There are 31 institutions holding 20 percent of stock. Attended 8 investor conferences. Total shares out 21,151,535. Proxy votes totalled 19,500,000. Board of Directors received 98 percent. Options issue received 17,260,000.
fma
Web site added press released, adding financial page.
|
