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Paolo Gorgo

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  • Jamba: The Good, The Bad And The Unknown [View article]

    thanks for your comment. Yes, Engaged Capital pushing for better results should act as a positive, in this situation. Unfortunately it is always relatively easy to run "what if" excel simulations, but real world results are always linked to more uncertainties than people may forecast. It will be an interesting story to watch in the next few quarters.
    Nov 13, 2014. 09:42 AM | 1 Like Like |Link to Comment
  • Immersion's Partnership With SomaTone Adds Another Piece To Its Mobile Haptic Strategy [View article]
    I think this quote from IMMR Q2 14 c.c. may help explain the matter better:

    >David Williams - Ascendiant Capital
    Great. And one more if I can, I just kind of wanted to think about Samsung and realizing that you guys have a fixed contract with those guys. So, we're definitely starting to see a little bit of softness in their business. Is there anything that you could see or maybe look at as maybe being a contributor to your business, any concern of maybe about the softness there?

    Vic Viegas - President and CEO
    Well, I think the nature of the relationship we have with them is that we said in the past relatively fixed. And so I think we are somewhat insulated from any other market challenges that they might have. We still work hard to bring new technology, the new product areas and have the opportunity to continue to increase revenue there. But for the most part, I'd say we are fairly well protected from the market differences or the volume assumptions that happen throughout the year. <

    In mobility IMMR has a few mostly fixed ("so much for this year") agreements, where the variable part doesn't represent the major revenue contributor. This also explains why cash increases so much at the beginning of the year.

    Customers' profits are not a concern for the company, as unrelated to both fixed or per unit deals (obviously a customer going broke like Pantech is not good news, but that's another story).
    Oct 28, 2014. 12:05 PM | 1 Like Like |Link to Comment
  • Immersion's Partnership With SomaTone Adds Another Piece To Its Mobile Haptic Strategy [View article]
    In the short term, there should not be a huge impact - the Samsung agreement has mostly turned into a fixed rate one. Over the long term, a strong decline, by Samsung, in units sold might obviously have a negative impact. Hope it helps.
    Oct 28, 2014. 11:43 AM | Likes Like |Link to Comment
  • Immersion's Partnership With SomaTone Adds Another Piece To Its Mobile Haptic Strategy [View article]

    thanks for sharing your diligence and comments.

    A couple of notes related to growth: when we compare 2014 and 2013 revenues, we should also remember that 2013 was positively impacted by a one time event related to the Samsung renewal (roughly $2 million).

    Over the long term, I see both advertising and automotive as potential catalysts for growth - which at this price may be considered something like a free call option incorporated in the share price, if you have an optimistic view on the company and the future of haptics...

    A buyout may be the quick solution round the corner to create shareholder value. A recent addition to the BoD may have added a manager who's already been through this experience.
    Oct 27, 2014. 12:09 PM | 1 Like Like |Link to Comment
  • Apple's Taptic Validates Immersion's Haptic Technology [View article]

    The market was expecting an improved guidance for 2014 (say narrowed to the high end). Lack of improvement has been translated into doubts about the quality of the LG renewed deal.
    Sep 21, 2014. 03:04 PM | 1 Like Like |Link to Comment
  • Apple's Taptic Validates Immersion's Haptic Technology [View article]
    If you go to this link, you'll find how Apple describes haptic:

    We found a way to give technology a more human touch. Literally.

    It’s called the Taptic Engine, a linear actuator inside Apple Watch that produces haptic feedback. In less technical terms, it taps you on the wrist. Whenever you receive an alert or notification, or perform a function like turning the Digital Crown or pressing down on the display, you feel a tactile sensation that’s recognizably different for each kind of interaction. Combined with subtle audio cues from the specially engineered speaker driver, the Taptic Engine creates a discreet, sophisticated, and nuanced experience by engaging more of your senses. It also enables some entirely new, intimate ways for you to communicate with other Apple Watch wearers. You can get someone’s attention with a gentle tap. Or even send something as personal as your heartbeat.

    Just a few weeks ago, people were skeptical that Apple would EVER endorse haptic. I believe this could really act as a trojan horse that will lead to haptics in more Apple devices (why limit sending a heart beat between watches, when you have millions of iPhones and iPad owners?)

    Let's see how things develop.

    PS: thanks for your kind comment.
    Sep 12, 2014. 12:44 PM | 1 Like Like |Link to Comment
  • Apple's Taptic Validates Immersion's Haptic Technology [View article]
    It is interesting to note that IMMR has just added three videos that are also interesting to understand what kind of added value haptics can bring to wearables, and that a smart watch may be a great companion to a smartphone, rather than a substitute:

    fitness related

    haptics to communicate emotion - you can email a heartbeat to your beloved

    intensity mapping - haptics as a way to communicate proximity to a specific location
    Sep 12, 2014. 11:15 AM | 1 Like Like |Link to Comment
  • Apple's Taptic Validates Immersion's Haptic Technology [View article]
    IMMR patents don't look that weak in absolute terms, if you consider that the company has never lost a court case (Sony was forced to pay around $100 million plus for their use of haptics into the first three generations of PlayStation), and that Google/Motorola preferred to go for a license of basic haptics in an Android environment rather than continue to defend in court.

    It is true, however, that some work arounds may be possible (IMMR holds some key patents in this field, but doesn't "own" it), and that some OEMs have tried to use haptics in their products regardless of holding an IMMR license.

    I guess it is too soon to say the last word about Apple "tactics", as we do not have enough data to understand how haptics was implemented.
    Sep 12, 2014. 11:09 AM | 1 Like Like |Link to Comment
  • Jamba Juice: System Comparable Store Sales Not Any More An Area Of Concern, The Stock Benefits [View article]
    you are correct, franchising should be $7.5 million only in the last chart. I apologize for the mistake, and thanks for correcting the data.
    Aug 18, 2014. 12:20 PM | Likes Like |Link to Comment
  • Jamba - Why The 'Rocket Launch' In Share Price Following Q2 Earnings? [View article]
    Great article, as always.

    With proper execution, we might finally see Jamba develop its potential in the next few quarters.
    Aug 10, 2014. 04:29 AM | Likes Like |Link to Comment
  • Immersion: Stock Down 23% After Earnings Miss, Lowered 2014 Guidance [View article]
    it looks like management gave you a great opportunity to get back at a lower price... ;-)
    Aug 4, 2014. 11:30 AM | Likes Like |Link to Comment
  • Update: Immersion And Huawei Enter Into Multi-Year License Agreement [View article]
    The market reacted to the earnings miss as if the company hit a brick wall: it may not be the case.

    My main concern is the LG negotiation: if that is solved positively (a similar situation happened with Samsung at the ned of 2012), we may see a good reversal.
    Aug 2, 2014. 12:53 PM | 1 Like Like |Link to Comment
  • Announcing SA's First Outstanding Performance Award Winners [View article]

    could it be worth opening for the week to all readers the articles chosen as outstanding performance award winners? This could allow a greater audience to evaluate the call and get familiar with the story (which most likely has already played out, so that PRO subscribers shouldn't get much upset from this free pass...)

    Great initiative, by the way.
    Jul 28, 2014. 01:28 PM | 1 Like Like |Link to Comment
  • 2 Recent Developments Make Jamba Worth A Second Look [View article]

    great article.

    Jamba management has done a great job with the hardest part of the turnaround, but seems not inclined to discuss/disclose what hasn't really worked well recently (such as CPG). And yes, this level of G&A is oversized for today's numbers.

    Let's hope Engaged Capital Holdings may act as a positive catalyst for execution - patience is the name of the game, although I still believe the business model may reward investors nicely, over the long term.
    Jul 25, 2014. 11:03 AM | Likes Like |Link to Comment
  • Immersion Q1 2014 Results: A Story Awaiting Some Catalysts [View article]
    Any breakthrough innovation like this should translate into a positive for Immersion, as the company owns most of the IP related to haptics, and an IMMR license should probably be required to commercialize these products.
    May 25, 2014. 05:27 AM | Likes Like |Link to Comment