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Non-Tech : Radica Games (RADA)

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To: Ron Harvey who wrote (6764)	4/27/1999 10:08:00 PM
From: Skywatcher	of 7111

OK...I am going to report on the shareholders meeting... I haven't had the time to do this, but will type as much as I can. My wife still has shares in the company...I too sold mine for IATV until this thing shows some life again. 17.6 MILLION shares were represented at the meeting here in Pasadena! out of 19 million, I would say that's a great representation. About 40 people were in attendance, including Todd Pickup. Radica now has 4800 employees...produced 23 million units Had a nice booth set up with dummies and actual units on display with the header "GET REAL...GET RADICA" Thought that was a good header and slogan... The Wedbush analyst, Darrin was in attendance The entire receivables 'problem' from last quarter was addressed... I know that at the time I was concerned with the big jump in this number...which of course coincided with the jump in shipments! It has quickly gone from 33.2 mill to 14.9 mill in the Oct31 - Dec31 timeframe. $10 million was spent on TV advertising last year The one Million square feet of factory space is only carried on the books at $16 million... very cheap considering how much they can get out this facility. Still stumped by the P/E of almost 5! ROA equals 47% ROE equals 59% outstanding numbers in any company There has been $50 growth in this hand held category. With the change of the fiscal year...A very good idea to report in concert with the rest of the industry, should help the company be better in tune with others. This will result in a change from a 40/60 split of first three quarters vs fourth quarter to a more traditional 30/70 split normally associated with a christmas season type company. Pat Feely: Hunting game is doing "extremely well" at retail. FOUR new Star Wars games will be on the OEM menu... The Girl Tech section (Janese was in attendance) These games/toys are selling like hotcakes and the sales velovity figures from Toys R Us have been excellent! The Diary and Door pass have been the hottest. The newest product is called BUG 'EM... This is a hybrid of the baby watching intercom... It is a large ladybug type gizmo in the new purple and green that chirps every few seconds, but allows the girl to hear/listen in on another room! Could be trouble for adults, but that is the reason for the chirping sound to alert those in the room that it is ON and sending an audio signal to the receiver in the girl's room. They are moving to introduce more games for launch into the second half of the year. The overall handheld market is up over 10%!!! in the first 2 months of 99. The Listings of the products is up 40% in the stores so far this year. The facings are up 50% at Walmart so far this Spring and 33% for the upcoming fall season. Buckmaster is #1 at the moment Ultimate bass fishing will hit the shelves in MAY A TWO pERSON game....called Manbass fishin' which allows 2 people to compete for catching fish will come out in AUGUST. Fly Fishin' will come out in JULY. New version of the NASCAR Racer will come out in JULY. The new SNOWBOARD game will debut in AUGUST> The TIGER WOODS GOLF game will come out in the fall...probably OCTOBER>this game even registers slices and hooks when you swing. Hoping that the golf line will come to be as important as the fishing line in the future...with Tiger on board...This is a real possibility in my opinion. As for growth projections...they are looking ahead to be at $300million in sales by 2001 They want NO product line to be more than 25% of the total sales They are heading to have THREE Diverse types of profit units by 2001 They want to increase the global presence to 15% of sales by 2001 and it is now about 4% The main targets are to: #1 Build brand franchises with: Tiger WOODS Othello (new crossword game) Nascar BUCkmaster GirlTech Bass Fishin' #2 They want to lead the industry in INNOVATION: With the following: VMS\stealth fighter etc Velocity Sensor\golf etc Voice Recognition\Girltech Scrolling LCD\Buckmaster leading the way OK...just so I don't lose any of this effort... TO BE CONTINUED Chris

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