Thanks for sharing your insight. The presentation has been posted to the company's website under the Investor section. It was very impressive.
Total revenue for the third quarter of 2013 was $9.1 million. Revenue was up 77% sequentially and up 148% compared to the third quarter of 2012. During the third quarter of 2013, new product revenue increased 131% sequentially to $7.1 million.
So, I told Stealing_Money he had been right so far about QUIK, but would be come back and admit they had turned things around if they proved it?
October 29, 2013
Novadaq Announces Closing of its Previously Announced Bought Deal of Common Shares
TORONTO, ONTARIO--(Marketwired - Oct. 29, 2013) - Novadaq(R) Technologies Inc. ("Novadaq" or the "Company") (TSX:NDQ)(NASDAQ:NVDQ), a developer of real-time medical imaging systems for use in the operating room, announced today the closing of its previously announced sale of 6,250,000 common shares, on a bought deal basis, at a price to the public of $16.75 per common share, pursuant to an underwriting agreement with Piper Jaffray & Co.
Gross proceeds from the offering were approximately US$104.7 million. After the underwriting commissions and other offering expenses, Novadaq received net proceeds of approximately US$99.0 million. Piper Jaffray & Co. acted as sole manager for the offering. The common shares described above were sold by the Company in the United States pursuant to the Company's effective shelf registration statement filed with the U.S. Securities and Exchange Commission and were not offered for sale or distributed in any province or territory in Canada.
assets. The Company currently has no present understandings, commitments or agreements to enter into any acquisitions or make any investments.
Note that Cisco unveiled a predecessor to their new chip several years ago which also caused a selloff in EZCH stock, yet that chip did not impact EZCH's future sales
It seems the Market is quick to sell 1st and ask questions later whenever a potential competitive threat is announced. No prior competitive threat from any merchant (i.e. BRCM) has ever displaced an EZChip in any device, yet every such competitive chip announcement causes a panic amongst shareholders. The only legitimate prior adverse competitive news event occurred 5 years ago when Juniper announced they intended to transition away from EZChips to their own chips (not a merchant chip competitor like BRCM), yet Juniper is on pace for record purchases of EZChips this year (5 years later) - this demonstrates how long the engineering cycles are for such complex chips.
Cisco did not provide details on their new chip - it will be discussed on a conference call Sept 24 - until then, rumors will abound. The EZCH CEO assured analysts that Cisco is still using the current EZChip generation chip (NP4) and Cisco is also committed to the next generation EZChip (NP5) for Service Provider routers (EZCH's largest revenue source), so the current EZCH sales growth trajectory for Cisco will continue to rise. However, the new Cisco chip might compete with the future game-changing chip that EZCH is developing (NPS) for Data Center routers, but the EZCH CEO feels the new EZChip NPS will be superior for that new market. Furthermore, even if Cisco elects to use their new chip, it will only prevent some of EZCH's future growth into the new Data Center market at Cisco - it will not affect their current Service Provider market at Cisco nor will it affect the new Data Center market at any other customer (Cisco does not sell their chips outside Cisco). Given that the current stock price includes no anticipated sales at all for the future Data Center chip (NPS) anyway, a 30% drop in stock price is totally unwarranted (and seems to be based on fear that the Service Provider router's EZChip will also be displaced). Hopefully, this will become more clear after Sept 24. Note that Cisco unveiled a
Sentiment: Strong Buy
Cisco employs hundreds of chips, many of which they call "Network Processors" (NP), and most of the latter are in-house and not employed in designs targeted by EZCH. So, the introduction of another Cisco NP should not signal a disaster for EZCH, yet naive Market analysts are concluding that EZCH makes the only NP employed by Cisco - this is far from true.
Sentiment: Strong Buy