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Technology Stocks : Aware, Inc. - Hot or cold IPO? -- Ignore unavailable to you. Want to Upgrade?

To: Scrapps who wrote (6793)	7/22/1999 3:40:00 PM
From: Elroy	Read Replies (1) \| Respond to of 9236

If I recall correctly Tzannes or Moberg addressed that very question last quarter. License fees will diminish and royalties will grow as product from Aware licensees increase. My terminology error. I consider License/Royalty revenue the same thing. My understanding is that AWRE's got 3 revenue lines, contract revenue (consulting from AWRE engineers to help customers such as ADI/LU etc. get their products built), product revenue (mainly testers) and license/royalty revenue. Contract revenue should diminish when the customers get their products out the door. Product revenue is not going to explode like end unit sales. Royalty revenue is the future (since it will grow with xDSL chip unit growth), and royalty is not growing fast enough to justify a billion-plus market cap in my opinion. Elroy you know as well as most that the whisper isn't always differant from the estimate. I think you are referring to the Wishper number. Sure, I know that, and I don't think I made any mention of what expectations were for the quarter, whisper or wishper. I just think using a web page to determine expectations is pretty silly. You've gotta be talking to the institutions that own the stock to know what the expectations for a given quarter are, and I'm skeptical that whoever runs that web page talks to the big institutional holders for all the stocks they follow. Note that they are vague on their "sources". Anyway, anybody know any cheap cable modem plays :-) Elroy