Dell
I have always expected the bundling of ETS with Dell to end (I don't get much traction around here with the notion).
I do not, however, expect it with current Win7 devices.
Should the agreement end, it would seems that would be an amendment to a material contract that would require an 8-k in 4 days.
Q3 Dell revs for Wave were at a record level ($5.7m).
Dell represented 60% of Wave revs in Q3 (although what component of that was bundling is unknown).
My abacus projects Dell numbers for Q4 at 45-50% of Wave revs (again, what portion of that is bundling is unknown).
An abrupt loss of that revs would be rather trying. Obviously, some of it would be filled by other means (other resellers), and one retail ETS is worth a couple dozen bundled ETSes.
in the end, I do not believe that unbundling has occurred, I believe an 8-k would be in order.
I belive it is something that warrants close monitoring, and I have, and I have observed what DD has observed.
I have not, however, seen any cogent explanation for it.
The above content is my opinion.
