Net sales decreased by $1,126,231, or 18.0%, to $5,124,937 for the three months ended September 30, 2009, from $6,251,168 for the corresponding period of 2008. For the three months ended September 30, 2009, the mix of net sales by geographic region, consisting primarily of Caribbean and South American countries and the United States, amounted to $1,205,050, or 23.5% of net sales, and $3,919,887, or 76.5% of net sales, respectively, compared to sales by geographic region of Caribbean and South American countries and the United States of $3,598,950, or 57.6% of net sales, and $2,652,218, or 42.4% of net sales, respectively, for the corresponding period of 2008. The sales in Caribbean and South American countries decreased by $2,393,900, or 66.5%, to $1,205,050 for the three months ended September 30, 2009 from $3,598,950 for the corresponding period of 2008, as a result of a decline in purchasing power of customers and their currencies. This decrease was offset by an increase in sales in the United States by $1,267,669, or 47.8%, to $3,919,887 for the three months ended September 30, 2009, from $2,652,218 for the corresponding period of 2008, as a result of the increase in demand for its new "EV-DO technology" product, the CMU-300 WIMAX plus CDMA USB Modem ("CMU-300"), which was launched in the first half of the year of fiscal 2009.
Dont own but kept an eye on because of the new modem...flaky corp stucture..do you really think that Sprint was affected by the few million dollars in sales from the u300...they probably made more from their vending beverage machines in the stores...
USER it seems like your panicing a little bit here, and I think were all a little dissapointed with the numbers. The fact that C-Motech canceled the contract is nothing to worry about considering the large stake they have in the company...its not like they can sell there shares to somebody. The aquisition of diffon along with an increase of around $700,000 in cash sounds like a pretty well run quarter to me, although the depleation of inventory worries me. Did they simply stop producing the 300 because the 301 is far superior? Also did Sprint plan for this? Such a large company must have had plans for the transition from the 300 to the 301. They wouldn't roll out this huge expansion and feature our product while all the time knowing they would sell out and turn away customers only a few months later, would they?
It looks like were watching a company that will gain momentum and increase sales over time, in a responsible way....is that so bad? Any poorly run company can generate sales.
User, I have had it with you. You are just making up negative stuff left and right. The vendors have indicated to me that the U301 is due out in December. Mr. Lee is not going to sink his investment which is currently valued at $5-6 million. The company is growing and evolving and the new modem is on schedule.
Nothing stellar in Q1 report, but nothing bad either. Keep in mind that the revenues for the U300 were mainly recgonized back when the company began shipping the product in Q4 of 2009 (year ended June 30, 2009), and for the last two quarters, the company reported nearly $16 million in revenue. Recall that they reported about $10 million in revenue for the quarter ending June 30, 2009 when they shipped the U300. Now that inventory is completely sold, and when the U301 is released in December, the company will record some huge orders for that newproduct in Q2-2010 (ending Dec. 31, 2009). It will be then that the gains from the dual mode modem will offset the declines in sales of the older Latin American markets. I do like that the cash position increased by almost $500,000 and now stands at over $6.6 million. Nothing bad there. If the stock declines this month I will buy the other half of what I had originally planned to accumulate but I did not have the chance to do so, since the price rose so dramatically in October.
Arent you mssing the fact that they would have announced huge orders if they had them...December is next month and they are not stocking them so either the orders are already in the house or dont expect much from sales...these number are why competition has not built this product yet production probably outweighs any profit...or noticeable profit