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Technology Stocks : Spectrum Signal Processing (SSPI) -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (2472)	4/28/1999 5:54:00 AM
From: nord	Read Replies (2) \| Respond to of 4400

Pat The cc went as I expected The company under the direction of its pr firm and new strategy of promise nothing and deliver to the bottom line clearly established the first part of the strategy:) The Q199 rev was $5.63MUS/$5.28Q!98 and increase of 7% Net loss Q1 c3/0Q1 breakeven 98 Revised Q1 loss of 24cents for 98 secondary to accounting was 24 cents loss because SEC changes re the Alex acquisition ie paper loss R&D costs related IPR&D $3.52M. Operating costs continue to come down despite Alex acquisition Q1 19 design ins 3 design wins including digital radio, radar sonar, noise cancellation, machine vision no specifics but I will speculate machine vision I suspect we may have more on this Bell and Howell for postal sorting...this may be big radar and sonar likely US or Boeing for Navy could be modest to very big digital radio lots of possibilities from Mac DOD to wireless basestation size can't even speculate noise cancellation no clue ------------------------------------------- The tone of the cc was tough business environment. business is very strong "never been more business" The company steadfast re no forward looking statement on rev earnings. I know that they feel strongly about this new policy No guidance re in/win companies same policy plus non disclosures from OEM The Kodak contract mentioned and they are moving forward with marketing initiative no guidance on revenue The MAC question re why the company hasn't seen increase in DOD spending given wa point of information Spectrum doesn't sell war related technology ie bombs missle guidance etc they sell distant radr sonar and surveillance. The lead time for these ins is 12-18 months and isn't expected to add to rev the Q1 in fact due to the war it may push the radio surveillance sales back as this is non essential operating equipment for Balkans Re. the Q1 results I spoke with company. The $800K from Q4 that was pushed from Q4 98 to Q1 99. Because the Company has now changed it's policy on revenue recognition they are now cutting off sales earlier in each quarter. So the benefit they got on the front end from Q1 was lost on the back end; and so on from now on. They are still comparing a 90 day quarter in Q1 1998 with a 90 day quarter in Q1 1999. ---------------- Re the ADI announcement for board. ADI came to SSPI for development board. The company has signed an OEM agreement with ADI no financials disclosed. They also refused because of non disclosure to comment on Tiger board but it would make no sense for them to develop tools for this chip and not for Tiger ie I think we will get news on it as we get closer for release date for Tiger Sharc. The bottom line for me was lower SGA and no further loss in rev. despite slow down in DOD orders because of war. I am looking for the next couple of quarters to give us an indication as to success of vertical market wins as we move from in to win to production and hence revenue. I am also looking forward to names and contracts as the wins go into marketing channels of oems. "This program supports our strategy to build Spectrum's DSP outsourcing business," said Barry Jinks, Spectrum's President and CEO, "By working closely with Analog Devices very early to develop tools supporting this new and exciting DSP chip, we will ensure our OEM customers have the fastest time to market and lowest total cost of ownership. It's a win-win-win for our customers, Analog Devices and Spectrum." This Spectrum designed evaluation product will be the lowest cost single-chip ADSP-21160-based product available to engineers around the world, allowing Analog Devices' customers to get started on ADSP-21160 development. "We are very proud that ADI chose Spectrum to provide the development system for their newest SHARC," says Graeme Harfman, SHARC Product Line Manager at Spectrum. "Spectrum's proven quality systems and manufacturing capabilities set us apart in the DSP industry. In fact, in one year alone Spectrum manufactured over 130,000 DSP boards." The ADSP-21160 EZ-LAB Evaluation Board is a stand-alone platform with single ADSP-21160, 512KB of 64bit SBSRAM, flash, stereo codec and a parallel port interface to a desktop PC. ADI's customers will be able to download, debug and run code from Windows95, Windows98, or Windows(R) NT desktops. The ADSP-21160 SHARC DSP itself integrates 4 Mbits of SRAM on-chip, with communication via serial and link ports. On the heels of the EZ-LAB Evaluation Board, Spectrum will release a full line of ADSP-21160 products including PCI, VME64, CompactPCI, and PMC system solutions all sold through Spectrum and supported by APEX, Spectrum's graphical development toolset for multi-processor applications. Spectrum's APEX software tools are a perfect complement to the new SHARC DSP and are fully compatible with Analog Devices' VisualDSP(R) development tools. APEX software provides advanced software support for development, debugging, and optimization of multi-processor SHARC systems.<b/> Spectrum is also collaborating with The MathWorks Inc. to develop a MATLAB(R) driver for the EZ-LAB. DSP development engineers will prototype their algorithms in the MATLAB environment, then target the ADSP-21160 EZ-LAB Evaluation Board. Simulated input data from MATLAB can be downloaded to the EZ-LAB board, processed with the new DSP algorithm and returned to MATLAB for comparison with the simulation results. Norden