To: Bob who wrote (14869 ) 11/12/1999 6:32:00 PM From: KevinThompson Read Replies (2) | Respond to
XYBR...Our advanced discussions with IBM and others regarding potential collaboration on wearable PCs are exciting in that, if finalized, we can expect to develop this market much faster than we previously believed was possible." ...The company reported its Q1 results today -- a loss of $0.20 a share from a $0.10 loss in the year-ago period (actual loss rose to $4.2 mln from $1.5 mln, but an increase in shares held down the per share loss). Revenues rose to a meager $654,163 -- no zeros missing there, it's just $654K. The company noted that sales have not exploded yet due in part to a shift to a more conservative revenue recognition method, but that so-called conservative method simply involved not booking revenues until resellers either sold XYBR products or at least paid for them. That doesn't sound overly conservative to us. When Briefing.com wrote about XYBR back in November after their presentation at the AEA conference, we noted that XYBR's claims of $35 mln in 1999 revenue "should send the skepticism meter into the red zone." Undaunted, XYBR has now upped its estimate to $40 mln. That's right -- revenues were $654K in Q1, but they will total $39.3 mln in the remaining three quarters of the year, despite no obvious evidence that there is a sizable market for the wearable computer.
