Thanks to this poster:
By: johnhcfl4144
09 Apr 2008, 06:54 PM EDT
Msg. 12813 of 12813
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Conference Call Notes...Introductory comments
I listened to the conference call again with a notepad and I am sharing these notes with our board readers. I would urge you to do the same thing...there was a lot of ground covered.
Mike Ferrara our new CEO shared some his background including becoming CEO of a broadly similar company named XRite which had a series of exemplary growth years under his leadership.
Comments..I am excited about the technology..we are in the process of developing and executing strategies..we will get better everyday..we will become customer-focused..that is necessary
first and foremost...SELL MORE ..develop a sales strategy..the first installment of strategy is in place...we have put in place a new sales leadership team..Mike spoke extensively about Mizuho and Japan which I outlined in an earlier post..Mizuho as recently as 2-3 years ago generated over $2million in a single year..
Mike spoke about the potential of restoring the relationship, building on the 200-250 unit installed base in Japan..expanding the sales coverage there through Mizuho selling the whole product line or adding additional reps who will..He spoke of the great market potential in China, Korea (where there is a decent base), Australia, Singapore and India.
Reps have been hired for Asia and Europe..press release has been commented by others on this board..this is a seasoned team..experienced in the geographic areas to which they have been assigned..and if I was a CEO of a new company, I would seek to hire winners from my old firm if the skillset is appropriate..
Hiring a new VP of Operations who is now in place.
Developing a product design team which would include the people who would service the machines and customers who would use them..
That he has implemented a high single-digit price increase..which shows confidence in the value of the product line..and with the decline in the value of the dollar vis-a-vis the yen and the Euro will probably allow another increase yet this year.
Mike was extremely complimentary of the efforts of Bob Bruno in developing and pricing the new 1100 lab unit..
Several references to the completion of 3 year strategic plan around Labor Day..
And most important to me...his enthusiasm expressed in "We have an Order" about a new piece of business from Mizuho
By way of disclosure, I am a long-term shareholder and continue to add to my position at good buying opportunities. I have no recommendation as to what anyone else should do..these posts are a way to clarify my own thinking.
Based on this call alone, we have more ways of evaluating this investment than we have ever had presented to us before. Mike Ferrara is accountable.
Send stock manipulators to: enforcement@sec.gov-and to jail.
