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Technology Stocks : KVH Industries, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: akmike who wrote (1021)	1/9/2002 1:30:57 PM
From: Sector Investor	Respond to of 7249

<<I don't have the Needham report on this computer but my memory is that the analyst projected 46.3 mil. for 2002.>> Needham's report from last June projected revenue of $48.5 million for 2002. But that was 36% growth on a base of $35.8 million for 2001 (20% growth), which KVH didn't reach in a difficult 2001. They projected a loss of $0.14 for Q4 2001, and Martin has told us it will be much less with revenue of just $9.0 million. Martin's projections for 2002 mean they have to have all double digit million revenue quarters (or at least the last 3). They projected 2002 quarters as (0.04), 0.02, 0.05, and 0.10 respectively. But they projected SG&A at $14 million for 2002 (vs $11.8 for 2001 and $8.5 for 2000), and I think that is high. The doubling of military and the high growth of FOGs should improve their GMs above Needham's estimates too. I think they will beat Needham's earning projects even if revenue comes in lower. And like I say there is a substantial upside potential buffer to those numbers.