new all-time low hit today. Their product is technologically inferior. They have no patents. They have numerous patent lawsuits against them. The barriers to entry for their product are very low. CEO said growth will be negligible this year. Their customer base has a huge concentration of oil/gas/mining companies which will/have cut back on spending. They are egregiously overstaffed. 10X the employees of IDSY with 3X the revenue.
MIXT down over 6% to a new all-time low. ORBC breaking to new 52 week lows down 4.5%. CAMP down 4%, FLTX down 2.5%, NMRX down 2.2%
IDSY up a little with a stabilizing bid in place to boot
I like what the ORBC CFO had to say but his delivery was awful. May have been the single most unprofessional presentation I have ever hard. Glugging water and out of breath, skipping back and forth on slides.
when I asked Liolios why IDSY lost this deal, they had no answer. It has to be something:
OK, he started in July. But he knows this industry for 20 years. Why did we lose WalMart 16K unit deal to Orbcomm? Just a few weeks later he renews WalMart 55K fleet over 3 years for a rather small increase when we had no increases for 4 straight years. Not a great track record so far. A real rainmaker would have won that 16K deal.
When you are getting the pay these guys are getting and come in with all the hype, you don't get a pass.
The TAMs potential customer base should be swimming in found money due to the collapse of oil prices. Where are the announced deals?
Norm Ellis is getting a great pay package and needs to start earning his salary. Where are the TAMs deals? Orbcomm announced WakMart went with them for 16K unit deal. Orbcomm announced Werner was a 1K unit deal. Where are our TAMs deals? They have been small in comparison. TAMs must be losing market share
fluff with no substance.
Opened a website? 1998 called and wants their PR back. Is the Petco sock puppet on the new Durafit website?
Does IDSY not have a dual mode TAMs product? If cellular costs are less than $1/month/asset, why not offer a dual mode product? The incremental cost to add dual mode seems so minor. Yet another oversight. I am guessing that ORBC was able to win this by offering a dual-mode product
listening to Needham Conf. This CFO is a doofus. Glugging drinks and out of breath while he is presenting. Sounds like a young kid high on coke. It's a shame, because the message is good but the messenger really spoils it.
Fire this guy and get a better front man.
listening to the Orbcomm Needham presentation, Orbcomm won this 16K unit award from WalMart
"ORBCOMM Wins 16,000-Unit Order from One of the Nation’s Largest Retail Fleets
Provides end-to-end tracking and monitoring solutions for dry and refrigerated trailers
Business Wire ORBCOMM Inc.
October 28, 2014 2:02 PM
ROCHELLE PARK, N.J.--(BUSINESS WIRE)--
ORBCOMM Inc. (ORBC), a leading global provider of Machine-to-Machine (M2M) solutions, today announced that the one of nation’s largest retail fleets has selected ORBCOMM to deliver 16,000 dual-mode tracking and monitoring solutions across its mixed fleet of dry and refrigerated trailers. ORBCOMM expects to ship the majority of the order in the fourth quarter of this year."
Why didn't IDSY win this? #$%$? How could we not win this? Was Norm asleep that day?
I did like the fact that he somewhat gave guidance for the next 3 years and said they grew 15% last year and should grow 15% for the next 3 years. He would not commit to more than that at this time.
He is how the yearly income would play out:
2015 $52M implies $5M+ non-GAAP operating income
2016 $59M implies $6M+ non-GAAP operating income
2017 $68M implies $8M+ non-GAAP operating income
also glad to hear Ken spell out how the board agreed to quit and Jagid agreed to resign to avoid a proxy fight. The Needham call sure did spell out a ton of stuff for those who are just too stupid and stubborn to figure out the obvious.