Phoenix Technologies (PTEC) Message Board

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Technology Stocks : Phoenix Technologies (PTEC)

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To: Jules B. Garfunkel who wrote (3242)	4/18/1999 4:16:00 PM
From: Marc Phelan	Read Replies (1) of 3624

Jules and all.... I listened to the conference call and I consider it to be very positive. I have listed what I consider to be the most important points. 1. BIOS for Computers and Information appliances are "performing above expectations". BIOS pricing is stabilizing. (It was very positive that he sees no reason to drop prices at this point.) 2. The semiconductor IP business is proving to be “very successful”. 3. Efforts to reduce R&D as a percentage of revenue is "proceeding according to plan". They expect the model to reduce from the current 30% to 18% "by the end of fiscal year". (This would be great news!) 4. Margins for the second quarter were "significantly improved". Growth should continue at a 20% to 30% range. 5. IBM is now shipping with Phoenix Notebook BIOS. 6. I64 shipments will begin to add to revenue next year with higher ASP's for the new products. 7. Security products will be Internet ready and the company expects the products to be successful. 8. USB & 1394 products are gaining momentum in the market. PCI cores are moving into the Internet backbone equipment market. 9. Bill Meyer gave a great accounting and showed that the company continues to grow. (The IP revenue growth of 110% was very impressive to me.) 10. The top 5 customers were Fujistu, HP, Intel, Sony and Unicore. (I was glad to see Intel as #3) 11. Cash and marketable securities totaled 80 million dollars with no long term debt. 12. Kay explained clearly why the sale of the PC card business to Unicore. Jules, regarding your questions I thought Jack's answers were very well handled. The Y2K answer I agreed with wholeheartedly. There was no future in that arena. The Internet answer was GREAT. If he could only speak about customers it would have been perfect! I am waiting for the buyback of stock issue to be announced. The statement that PTEC stock is a "fundamentally undervalued issue", gave good direction as to the way Jack's vote will go. Overall I think it was very positive! I am ready to add to my position. Your thoughts would be appreciated. The best, Marc

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