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From: +Leman Wednesday, Oct 15 1997 2:02PM EST Reply #171 of 171 Here is some info I found from the AESP thread.If you know how please start an AESP thread. AESP is now selling at book value and it has over 9 dollars in sales. I think this co is nderfollowed and greatly undervalued. They say that they have a strong growth rate without their products becoming outdated co no is 18004462377 CORPORATE PROFILE NASDAQ SmallCap AESP/AESPW Shares Outstanding 1,732,500 Fiscal Year End December 31 Public Float 920,000 IPO Feb. 13, 1997 Industry Computer Connectivity/Networking Offering Price $6.00 Total Assets $9.8 million Stock Price (a/o 5/23/97) $6.62 Working Capital $7.6 million Stockholders' Equity $ 6.5 million Long-Term Debt $1.4 million All balance sheet information a/o March 31, 1997 COMPANY HIGHLIGHTS Profitable for 13 consecutive years since founding Three year compounded annual growth rate of 31% for net income and 25% for net sales Market capitalization less than 1X sales and PE ratio less than half of annualized sales growth rate 47% gross profit margin in first quarter of 1997 AESP reported first quarter 1997 net income of $184,972, or $0.14 per share, on sales of $3.6 million (see attached First Quarter 1997 Financial Results) Participates in growing and highly fragmented $20 billion worldwide connector/cable market Approximately 1/3 of net sales from international business, with offices in Germany and Sweden, and exclusive distributors in Russia and the Ukraine Quality manufacturing at competitive prices, with 35 suppliers in the U.S. and the Far East Strong balance sheet and credit line to support expansion Recent IPO raised $5 million to support internal expansion and acquisition strategy Supplying The Tools For The 'Convergence Revolution' The market created by the convergence of the computers, communications and entertain-ment industries is creating a dynamic opportunity for Advanced Electronic Support Products, Inc. ("AESP"). By supplying basic tools for the convergence revolution, AESP is capitalizing on market growth while avoiding the risks associated with the rapid changes inherent to the computer industry. AESP designs, manufactures, markets and distributes relatively low-technology but critical products, including the computer cables and connectors, which connect computers with communications and cable/television/satellite/ entertainment electronics and hardware. AESP's customers include original equipment manufacturers ("OEM") and resellers, retailers and catalog merchandisers worldwide. The Company currently enjoys brand name exposure through more than 80 million annual catalog mailings and shelf space at a number of electronic/computer stores. Serving A Dynamic Market With outstanding PC price/performance values and exciting and affordable new technologies bringing more home and business users on-line, the computer industry is continuing its explosive growth. In 1996, the PC industry shipped 71.7 million units, an increase of 19.1% from 60.2 million units in 1995 (Dataquest). In 1997, the PC-based server market is expected to reach 1.3 million units, a 50% increase from 850,000 units shipped in 1996 (IDC). Internet access is expected to increase 140% from 1996 to 1999 (Veronis, Suhler & Associates). In addition, sweeping changes in the network entertainment and cable industries to embrace HDTV, Web TV, and other digital technologies are creating new connectivity market opportunities. To serve these rapidly expanding markets, the cable and connector industry is expected to grow 52% to $22.8 billion in 1998 from $15.0 billion in sales in 1990 (The Bishop Report). AESP's Strategy AESP's mission is to become a world leader in supplying connectivity and networking products. With no single dominant player in these markets, the Company believes it can achieve its mission through the expansion of its operations worldwide coupled with strategic acquisition. To grow its retail business, AESP has increased its worldwide sales and marketing staff who operate from offices in Miami, Sweden and Germany. AESP also has exclusive distributors in the Ukraine and Russia, a decided advantage in operating in Eastern Europe, as its principals emigrated from Russia in 1979. With more than 4,000 SKUs, the Company continuously expands its product offerings to build customer loyalty by staying ahead of consumer demand. Efforts to expand OEM sales include a new OEM sales office on the West Coast and heightened marketing efforts to computer manufacturers, with whom the Company has built a reputation for quality, just-in-time deliveries, and engineering expertise, as well as tele-communications and cable TV service and hardware providers. AESP has also pinpointed the medical and appliance industries for OEM sales. AESP is also actively seeking to acquire businesses, both here and abroad, with complementary products and/or distribution in markets not currently served by the Company. Products AESP designs, manufactures and markets distinct but closely related product lines: Connectivity products; includes cable assem-blies, adaptors, connectors and data sharing devices which connect computer and other electronic hardware to external devices such as printers. AESP's Plugged-In™ high-performance connectivity products give the consumer the option of purchasing a superior cable designed for the high-quality data transmission needs created by today's high-speed peripherals. Networking; the interface cards, hubs, trans-ceivers and repeaters that connect computers to a server, other computers and the Internet. Audio/video products; includes connectivity-type products for multimedia and entertainment applications. Accessories; includes tools, testers and surge protectors to complement AESP's other product lines. Services AESP takes great pride in providing its customers with superior service, such as enhanced and custom packaging, technical and design support, assembly support, training, extended warranties, merchandising and display programs, and quality control. These value-added services provide AESP with a competitive advantage. Manufacturing All of AESP's products are manufactured to the Company's specifi-cations, including its own designs or based upon industry standards. While AESP maintains the ability to fulfill small custom and rush orders in its Miami, FL, facility, manufacturing is generally outsourced to a number of providers in several countries, eliminating dependence on any one provider. In accordance with its defect-free policy, management personally qualifies each manufacturer and, in some cases, lends additional quality control equipment. As the Company goes forward with its ISO 9000 approval process, it looks to manufacturers that have received the international standard certification. Final QC is conducted at the Company's headquarters. Management Slav Stein, President, founded Advanced Electronic Support Products, Inc., in 1983. Previously, Mr. Stein was an electrical engineer at Gables Engineering, responsible for designing airline communications panels. Roman Briskin, Vice President, has worked for AESP since 1984, and, among other responsibilities, oversees the Company's international expansion. Randy Paulfus, CFO, recently joined the Company with extensive experience as CFO and COO of several publicly traded companies. For More Information: Slav Stein/Roman Briskin 305/944-7710 Advanced Electronic Support Products or Juliane Snowden 212/836-9606 jsnowden@equityny.com Tamara Ehlin 212/836-9607 The Equity Group Inc. | ||||||||||||||
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