Proxim (PROX) Rating: BUY-FOCUS LIST November 9, 1999
American Electronics Association (AEA) Conference Update
- Home networking and vertical market trends remain strong.
- The Company�s technology path is well defined. Approval of the FCC�s wideband hopping proposal and development of its HIPERLAN products are on track.
- PROX has successfully created a consumer friendly product. The Company continues to win numerous industry awards, and sign significant distributors for its Symphony products, such as OfficeMax, Staples, and Best Buy.
- PROX�s competitor Aironet was acquired by Cisco for $800M in Cisco shares. This benchmark suggests PROX shares are significantly undervalued considering the Company�s larger revenue base, established profitability, as well as its leadership in building products, alliances and distribution in the home networking market.