here is this months sharholder letter from TD...
metricom.com
Dear Stakeholders,
The ubiquity of wireless communication has changed the way we live and work. And, we believe Metricom has changed it further, delivering this year what others can only promise to deliver in the future - wireless, high-speed mobile data access, from a variety of Internet-ready devices.
The year began with a lot of buzz around 3G, its alleged speed and performance, and first to market advantage; all the while Metricom was building its third generation Ricochet network. Our nationwide launch of the fastest wireless mobile data network rose above the noise and awakened the market to our version of 3G as an alternative to W-CDMA, CDMA2000 3xRTT, and EDGE. Now, as the hype over cellular 3G decreases, the year ends with a lot of buzz around our MCDN technology and the Ricochet Network. Adventis Horizon in their report Beating the Mobile Data Access Bottleneck said “[Metricom] is three years ahead of 3G’s expected launch, and possibly even further ahead in the US…appliance manufacturers, modem manufacturers, service providers and customers, would do well to look to alternatives like Metricom.”
We have launched the Ricochet network at a tremendous pace, opening 14 markets that cover over 400 individual towns and municipalities. Millions of people now live and work under the Ricochet network and it continues to expand every week. Our roll-out plan is unmatched and represents a major success both for Metricom and its’ partners. On the manufacturing side, Sanmina has produced over 100,000 poletop and WAP radios, ultimately connecting to nearly 1900 WAP units received to-date. Nearly all 25 Network Interface Facilities are complete, and the Right-of-Way division has municipal and utility agreements covering a total population of 66 million people.
On the distribution side, Metricom signed reseller agreements with GoAmerica, IP Communications, Juno Online Services, Wireless WebConnect, and Aether Systems to sell Ricochet-based services across America. Alliance Partners such as Novatel Wireless and Sierra Wireless both launched wireless PCMCIA Ricochet modem cards this year, allowing device vendors and Ricochet Authorized Service Providers to provide a total Internet solution. National Semiconductor is also consolidating the Ricochet technology onto their chipset, ultimately creating Ricochet Ready devices. These partners and others, form the Ricochet growing ecosystem. Our vision includes system integrators, vertical market application developers and vendors, wireless ISPs, and hardware device manufacturers, to meet the variety of customers needs and create natural distribution channels for our service.
At Comdex in Las Vegas, our Ricochet ecosystem provided the catalyst for wireless connectivity on a variety of devices. Microsoft used Sierra’s Ricochet-based PCMCIA card with their new PocketPC, OmniSky announced a trial of its service on a Compaq iPaq using the Ricochet network, and bridging the gap between laptop’s and PDA’s, National Semiconductor showed the Ricochet Ready Geode WebPad Metro, running on the Sierra PC Card.
Our pre-work with these partners helped Ricochet win Best of Show for Services, our second major award this year, the first being Best of Show at PC Expo. Ricochet was also highlighted by the press. Walt Mossberg of the Wall Street Journal endorsed Ricochet on CNBC, and the USA Today and the San Jose Mercury News both referenced Ricochet during their Comdex cover story. But the recognition this year does not stop with Comdex. Ricochet was also named on Business Week’s “Top Products of 2000” list, while Metricom made it on the Industry Standard's "The Standard 100", an annual list of 100 influential companies that have been recognized for shaping the Internet Economy. Metricom was also named as one of America’s 7 most innovative operators by America’s Network.
The year began with an increasing amount of noise about the wireless data industry as new wireless products, services or capabilities were promised. The year ended with Ricochet delivering on its promise of high-speed wireless mobile data access, and acting as the catalyst for Internet access across multiple platforms and from a variety of devices. As we look ahead to the tremendous growth opportunities that exist for Metricom and our transformation of the wireless data industry, we will continue to push forward carving a place in history for Metricom.
I wish you all a happy and healthy holiday season!
Till next time…
Tim
Statements made in this management letter that are not historical facts, including those related to future market conditions, future competitors, future partners, market rollouts and future technology, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties which may cause results to differ materially from those set forth in these statements. Among other things, additional competition from existing and future competitors may impact the market. Projections of market size, partners, market acceptance, technological rollout and competition are estimated based on preliminary information as well as certain assumptions which management believes to be reasonable at this time. All forward-looking statements are subject to the successful completion of the actions described in this management letter. In addition to the factors set forth elsewhere in this letter, the economic, competitive, governmental, technological and other factors identified in Metricom's filings with the Securities and Exchange Commission could affect the forward-looking statements contained in this letter. |
