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Technology Stocks : SNDT - Sand Technology - A diamond in the sand
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To: let who wrote (1002)3/15/1999 10:31:00 PM
From: Sleeper  Read Replies (1) of 1200
 
Sand Technology (NASDAQ: SNDCF)
Conference Call
March 15th, 1999
1600 EST

The following is from my notes and is not a verbatim transcript.

Arthur Richey, CEO began the CC with some introductory comments.

1. Current emphasis is on generating revenues and ultimately profits should follow.
2. This Quarter is different from previous one in that there is a “pipeline” in place. For instance, the DM magazine mailing generated 60 qualified leads. The problem is having the resources to follow up with these leads.
3. Beginning to see a strong response in the TelCo community as well as some of the largest banks
4. Again, Mr. Richey emphasized the quality people that have been recruited and the moneys being spent on R&D to allow adequate service to the customer base that is forming
5. Direct marketing is proving effective because, when a company has tried other products without success, Nucleus is filling the void. Particularly effective with banks and Telcos.
6. First European office opens soon in London

The conference was then opened to questions.

1. As indicated on the balance sheet, there is no borrowing at the present time and cash is $117000 and reserves (short term investments) are 2.3m (Canadian?)
2. New hires: Top Marketing executives from Hitachi are working with IBM and will also be heading up the European office. Other hires include Compaq execs and Canadian software execs. These are top marketing execs whose job it is to get the SNDCF partners to sell the Nucleus products.
3. Total employees now number about 50
4. Mr. Richey expects a ramp up in revenues this quarter. Numbers will be out in mid June.
5. 4th quarter is expected to be more profitable than this quarter; Mr. Richey declined to predict the final numbers for FY'99.
6. No lines of credit are currently in place and Mr. Richey does not feel they are needed at the present time.
7. IF borrowing were needed, he would look more to the investment community than the banks.
8. The company will announce commitments as they occur; it is quite likely there will be announcements before this quarter ends.
9. HDS and WYLE are both going to be major contributors to sales of the Nucleus products. Mr. Richey declined to speculate on the role IBM would play.
10. A reference by companies to other companies is on a case by case basis, but so far none of SANDCF's client has declined to be used as a reference.
11. IBM is not a distributor but is endorsing the nucleus product so customers will feel comfortable buying it as part of an IBM general solution strategy.
12. HDS, because of the entry into Europe, and WYLIE are still requiring support and resources from SNDCF. Since IBM is not marketing the SAND products, no resources are being expended there.
13. It is more likely that SAND will close another large distributor like WYLIE before they close a company like IBM.
14. Contributions from the HDS affiliate (hardware) will be about the same as last year
15. SAND has made a small direct sale to a Government Agency that is one of the hardest to get into. Press should be out next week concerning this sale.
16. A sale has been made to a large European insurance company; look for this announcement shortly.
17. Arthur ended by saying he looked forward to having the next conference call “in the black”

<EOM>

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