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David Collins
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I am an investor relations consultant with 25+ years experience steering IR strategy and outreach for over 100 companies across a range of industries. We launched Catalyst Global in early 2012 to serve as a platform for innovating the IR role to better address the radically different dynamics... More
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Catalyst Global LLC
  • OTIV Reports Q3 Results - Some Revenues Shift into 2012 - '11 outlook lowered to $50M 0 comments
    Nov 30, 2011 1:29 PM | about stocks: OTIV




    ·         2H ’11 impacted by Thailand flooding which has delayed customer shipments

    ·         Some customer delays on existing contracts/execution affecting 2H revenue recognition

    ·         ~$6M to $8M in Rev’s anticipated in 2011 should shift into 2012, increasing visibility for 2012

    ·         2nd half delays due to principal inlay contractor plant in Thailand and supply chain disruptions

    ·         Seeing higher revenues in Q4 which looks to be strongest quarter in 2011

    ·         Reduced ‘11 revenue guidance to $50M from $55M to $60M

    ·         Guidance implies solid Q4 with gross margins returning to long term target50%

    ·         With expected Q4 Rev & margin, expect profitability in Q4 on a non-GAAP basis

    ·         $7M core tech licensing deal announced 11/30/11 – included in guidance


    Financial Highlights

    ·         9M revenues decreased 19% to $35.2M, Q3 revenue decreased 46% to $8.5M

    ·         9M licensing/transaction fee Rev. +42% to $4.0M

    ·         9M Gross margin 49%

    ·         Non-GAAP operating expenses +17% to $22.2M compared to $19.0M last year. GAAP operating expenses increased by 9% to $24.2M vs. $22.2M last year.

    ·         9M GAAP operating loss $7.0M vs. profit of $1.4M

    ·         9M GAAP net loss attributable to shareholders was $7.4M vs. $2.0M

    ·         Strong balance sheet; cash/equivalents/ST investments $30.8M @ 9/30


    Full release here: finance.yahoo.com/news/OTI-Reports-First...

    Stocks: OTIV
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