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Telular Canada Inc. Ticker: TC TSE I’m interested in exchanging views with anyone following this company. I’ve been tracking Telular for the past 6 months and I have been puzzled by the stock’s recent slide over the past few weeks. In my view, the company offers a large upside potential. What Telular does... Eighty percent of Telular’s revenue is generated by Granite Communications, its wholly owned subsidiary in Boston. Granite manufactures a handheld, touch-screen wireless communications device called the VideoPad. Its application is for companies that move and track items such as packages, goods, even people. Data entry can be done either manually or through the VideoPad's built-in bar code scanner, and data transfer can be accomplished either from a docking station, or wirelessly via the VideoPad's RAM radio capability or infrared port. The VideoPad also features a Global Positioning System location device, which gives delivery personnel the ability to instantly identify their location for security/emergency situations. The exciting news... 1) ** The VideoPad is being marketed in Europe and North America by IBM!! ** On August 19, IBM announced an agreement with Granite Communications to remarket the VideoPad. The product is being used as part of IBM's Mobile Solution called "TrackTell". TrackTell is based on a similar application IBM implemented in Europe, with Granite's VideoPad, for ChronoPost, the leading parcel delivery company in France. "ChronoPost achieved quick and dramatic improvements in employee productivity and customer service," said Robert Amezcua, vice president, Worldwide Mobile Solutions for IBM. "Within 30 days ChronoPost found that each driver was saving 30 minutes of their time per shift, and customers were more satisfied being able to instantly learn the status of their packages." IBM obviously has the resources to bid for large contracts. Given the success of the VideoPad in the European market, it seems like a matter of time before IBM lands something big for Granite in the North American delivery market. 2) The Health Care market On September 4 Telular announced a contract with National Medical Care Inc of Waltham, Massachusetts, for the supply of a hardware and software solution to provide efficient and accurate paperless entry and display of patient treatment data. Granite's portable data communicators enables clinicians to begin each shift with patient appointments and related patient files pre-loaded into each handheld device. During each shift, newly collected data may be continually entered. At the end of the shift, the clinician merely drops the handheld device into a docking station which enables the downloading of all data to a host computer. The initial phase of this project is valued at over $500,000 ($CDN), and calls for 18 facilities to be equipped with a total of 154 handhelds. These first eighteen locations will thus serve as test sites for validation of custom applications software developed by Granite for this program. The National Medical Care contract comes after a successful entrance by Granite into the medical market last year when the company announced the signing of a $26 million Letter of Intent with a major International Bio-Medical company. Phase one of that project, which consisted of a $1.1 million development contract, is expected to end in December when prototype units will be tested by the FDA. Full rollout is expected to begin in April of 1997 with an estimated 30,000 handheld units to be fielded over a four year period. Why the weakness in price? Telular has not yet released its year-end results from June 30. Undoubtedly there has been some selling because of uncertainty over these results. While the Granite subsidiary has been highly successful, Telular's Mobile Automation Business Unit was costing the company considerable marketing and sales efforts with few results. On June 25 Telular announced that it would close the Mobile Automation Business Unit. I expect that any savings realized on this closure would not show up until the release of Telular's 1st Quarter results (the first quarter ended Sept 30, so these results should be out soon too). Given all this upside potential, I cannot explain why Telular is trading at its lowest level in the last 6 months. Can anyone else following this stock offer some insight? Reuben | ||||||||||||||
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