Einige Auszüge vom Quartalbericht 1. 2001:
3
Consolidated Statements of Operations (Unaudited)
Three months ended March 31, 2000, March 31, 2001
Three Months Three Months
---------- ----------
March 31, 00 March 31, 01
Revenue 434,957 357,406
---------- ----------
Total Revenue 434,957 357,406
Cost Of Revenue 17,384 2,480
---------- ----------
Total Cost Of Revenue 17,384 2,480
---------- ----------
Gross Margin 417,573 354,926
Operating Expenses
Sales & Marketing Costs 242,565 378,821
General & Administration 128,453 121,047
Research & Development 266,091 234,208
---------- ----------
Total Operating Costs (637,109) (734,076)
. . . .
Net Loss (497,474) (971,173)
========== ==========
Earnings Per Share Of Common Stock
Average Shares Of Common Stock Outstanding 13,372,486 14,450,919
Loss Per Share Of Common Stock (0.04) (0.07)
. . .
13
Item 2. Management`s Discussion and Analysis of Financial Condition and
Results of Operations (cont)
Jyra wireless solutions are being used to monitor performance of next
generation interactive mobile services such as General Packet Radio Service
(GPRS) - data over mobile telephones, as well as WAP based services.
Performance of wireless applications is increasingly regarded as a
differentiator for mobile telecommunication companies delivering innovative
interactive services. Now, as a result of GPRS, mobile telecommunication
companies can deliver high bandwidth services but must focus on delivering
quality of service and improved content.
New mobile services are creating revolutionary business opportunities by
providing a new channel to market for existing services and the possibility for
totally new services that can reach customers 24 hours a day wherever they are.
It has been estimated that in excess $15 Billion will be spent on GSM
transmission equipment this year as mobile telecommunication companies compete
to offer the best performing services delivering high speed e-commerce related
Internet applications to the mobile user.
Europe, for the moment, leads the world in wireless service delivery. European
manufacturers dominate the handset market and European wireless operators are
delivering among the worlds most sophisticated services to a greater density of
customers than anywhere else. The USA has led the Internet phenomenon. A new
era is approaching in which the two biggest growth trends the Internet and
Wireless is converging. As a result of this convergence wireless operators, to
remain competitive, must deliver networks that support higher and higher
performance Internet services to mobile phones. We believe the company to be
well positioned to take advantage of this emerging market with the
implementation of a customised system already taking place on client site.
. . .
14
Item 2. Management`s Discussion and Analysis of Financial Condition and
Results of Operations (cont)
. . .
The new sales team and strategy made Quarter 1 2001 the strongest quarter in
the company`s history with average order value and the quality of customers
both strengthening. To capitalise on these changes we exerted considerable
efforts in forming a significant customer relationship in the wireless sector.
This relationship was with with BT Cellnet. Establishing the relationship with
BT Cellnet was one of the highest priority activities for everyone at Jyra
during the first quarter of 2001.
BT Cellnet purchased significant quantities of Jyra product in the first
quarter of 2001. BT Cellnet will use Jyra`s product to monitor performance of
GPRS services across their wireless network. This win was strategic both in
terms of Jyra`s position within this account but also in terms of providing us
with a world class reference with which we can address the wider fast emerging
market for wireless performance solutions. During 2001 we shall be focussing on
the wireless market, we believe that the BT Cellnet relationship will add
significant value to our proposition to other wireless operators.
15
Item 2. Management`s Discussion and Analysis of Financial Condition and
Results of Operations (cont)
. . .
RESULTS OF OPERATIONS
The Company`s bookings and orders (including service related backlog) exceeded
$800,000 for the quarter ended March 31, 2001. The US GAAP revenue recognised
by the Company for the quarter ended March 31, 2001 was $357,406 compared to
$434,957 for the quarter ended March 31, 2000. The balance of the order values
(approx $450,000) has been accounted as deferred revenue in accordance with US
GAAP.
Sales and Marketing expenses for the quarter ended March 31, 2001 was $378,821
compared to $242,565 for the quarter ended March 31, 2000. This increase
reflects the enhanced sales force and increased costs associated with the
increase in customer orders.
General and administrative expenses for the quarter ended March 31, 2001 was
$121,047 compared to $128,453 for the quarter ended March 31, 2000.
Research and Development expense for the quarter ended March 31, 2001 was
$234,208 compared to $266,091 for the quarter ended March 31, 2000. The Company
continued to work on its existing development program, and is actively
recruiting additional development staff.
Interest expense was $509 in the quarter ended March 31, 2001.
Earnings(Loss) per share for the quarter ended March 31, 2001 was ($0.07).
The number of weighted average common shares outstanding was 14,450,919.
LIQUIDITY AND CAPITAL RESOURCES
Net cash used by operating activities was $1,079,626 for the three months
ended March 31, 2001. The primary expenditure of this cash was to fund
the operating expenses offset against initial revenue adjusted for
depreciation, offset by Prepaid Expenses, Accounts Payable and Accounts
receivable.
Net cash received from investing activities was $25,688 for the three months
ended March 31, 2001. These funds were principally received as a result
of the disposal of certain items of property and equipment.
. . .
16
Item 2. Management`s Discussion and Analysis of Financial Condition and
Results of Operations (cont)
. . .
As of March 31, 2001, the Company`s principal sources of liquidity
included cash and available for sale securities totalling $2,298,252. The
Company currently has no outstanding bank borrowings and has no established
lines of credit. The Company continues to meet its working capital
requirements through its product sales revenue and financing transactions
involving the private placement of equity securities.
As at March 31 2001 we had disposed of 36,018 Path 1 at an average price of
$9.19 realising gross proceeds of $331,060. As at March 31 2001 we held 241,000
Path 1 with a gross value of $1,852,687.
. . .
17
Item 2. Management`s Discussion and Analysis of Financial Condition and
Results of Operations (cont)
During January 2001 our Board agreed that we will look to maximise our
financial return from the Corporation`s interest in Path1, the only quoted
shares that the Corporation currently owns. The Board authorised the gradual
reduction of the shareholding, in an orderly fashion over time. The Board gave
its irrevocable and unanimous consent and authorisation for the initiation and
completion of various disposals over time in respect of the Corporation`s total
holding of 277,018 shares in Path 1 Technologies Inc. As at March 31 2001 the
Company had disposed of a total of 36,018 shares at an average price of $9.19,
realising total gross proceeds of $331,060.
- - - - -
Wenn es interessiert:
die QZ von Micromuse sind gestern erschienen:
http://biz.yahoo.com/e/010514/muse.html
. . .
REVENUES. Revenues increased to $59.3 million and $109.1 million in the quarter and six months ended March 31, 2001, respectively, from $27.1 million and $49.5 million in the comparable periods of the prior year. License revenues increased to $43.2 million and $79.6 million in the quarter and six months ended March 31, 2001, respectively, from $20.1 million and $36.5 million in the comparable periods of the prior year. The growth in license revenues was primarily due to an increase in the number of product licenses sold, reflecting the increased acceptance of Netcool(R)/OMNIbus and the expansion of our sales organization and product offerings. Maintenance and services revenues increased to $16.1 million and $29.6 million in the quarter and six months ended March 31, 2001, respectively, from $7.0 million and $13.0 million in the comparable periods of the prior year. The increase in maintenance and services revenues was a result of providing maintenance and services to a larger installed base of customers. License revenues as a percentage of total revenues were 72.8% and 72.9% in the quarter and six months ended March 31, 2001, as compared to 74.2% and 73.7% in the comparable periods of the prior year.
COST OF REVENUES. The cost of license revenues consists primarily of technology license fees paid to third-party software vendors and production costs. Cost of license revenues as a percentage of license revenues increased to 5.5% and 5.6% in the quarter and six months ended March 31, 2001, respectively, from 5.3% and 5.2% in the comparable periods of the prior year primarily due to higher third-party royalty costs offset partially by economies of scale. The cost of maintenance and services revenues consists primarily of personnel-related costs incurred in providing maintenance, consulting and training to customers. Cost of maintenance and services revenues as a percentage of maintenance and services revenues decreased to 43.5% and 41.4% in the quarter and six months ended March 31, 2001, respectively, from 50.2% and 50.0% in the comparable periods of the prior year. This improvement, which was principally due to a proportionally greater percentage of higher-margin maintenance revenues, was partially offset by increased personnel, facilities, and travel costs associated with expanding the customer support and technical service organizations.
. . .
"Kommentar" dazu in einer PR bei Reuters:
http://dailynews.yahoo.com/h/nm/20010515/tc/tech_micromuse_d…
Tuesday May 15 3:26 PM ET
Micromuse Says Things Are Tough, But Looking Up
. . .
However, repeating the company`s predictions issued during its conference call with analysts after it
released its fiscal second-quarter financial results last month, Brown said Micromuse expects revenue
for this quarter to grow by about 6 percent to 7 percent versus its traditional 9 percent to 10 percent.
``It was tough last quarter,`` he said. ``It`s tough this quarter.``
However, Brown admitted the company is known to underplay its current financial performance.
``Our track record is to underpromise and overdeliver,`` he said.
``All of telecom is not sick,`` he said, alluding to the tough economic environment many
telecommunications companies face and one that has lead to several declaring bankruptcy. ``The
pipeline is very good.`` he said
. . .
ein paar Anmerkungungen von mir zu dem "Zahlenspiel" von Cenix:
gehen wir davon aus, dass die Umsätze tatsächlich über das ganze Jahr gleichmäßig so bleiben werden, wie sie jetzt im 1. Quartal waren (zum Vergleich vom Vorjahr:
"RESULTS OF OPERATIONS
Revenues for the first quarter increased 276% to $434,957 compared to $115,382 for the quarter ended March 31, 1999. In addition, the Company was pleased to see that bookings and orders (including service related backlog) exceeded $500,000 for the quarter ended March 31, 2000, surpassing management forecasts and general expectations."
was eine kritische Anmerkung einerseits von mir sein soll in der Hinsicht, dass die Umsätze von QZ1-2000 nicht weiter gehalten werden konnten!, wäre nämlich sonst: total 2000 = 4 x 500.000 = 2 Mio us$ für schon 2000 gewesen!)
also bleiben wir mal dabei, dass die Umsätze diesmal das ganze Jahr über gehalten werden können (weil "echte" Umsätze allein schon durch BT Cellnet!),
so hätten wir sogar mehr als von Dir Cenix gestern noch angenommen, nicht ca 2 Mio $ für total 2001 sondern 4 x 800.000 = 3,2 Mio $( wobei ein ansteigendes Wachstum nicht berücksichtig ist, schon deswegen nicht, weil die Mobilfunknetze mit dem neuen Standard GPRS(G3) bereits ab Mitte des Jahres b.z.w. spätestens im 4. Quartal dieses Jahres laufen werden).
Bleiben wir weiter bei dem "Vergleich": "das vergleichbare Umsatzmultiple von MUSE zur Bewertung heranzuziehen" so wären es bei 2 Mio entsprechend einer MK von 100 Mio bei einem Gesamtjahresumsatz 2001 von mind. 3.2 also eine MK von 160 Mio $, was eigentlich "zur Folge" hätte, dass bei einer jetzigen MK von ca 14,5 Mio $ (Kurs ca 1 $) der Aktienkurs entsprechend zum Jahresende bei mind. 11 us$ stehen sollte (wir also ca Mitte des Jahres bereits schon wieder unsere Einstiegskurse sehen könnten
; bei einer grösseren Umsatz von z.B. dem Doppelten also ca 6,5 Mio Gesamtjahresumsatz entsprechend . . .o.k., niemand glaubt in der Hinsicht mehr irgendetwas (dazu haben wir in der Vergangenheit schon genug "Superaussichten" gehört),
schauen wir mal, was so an weiteren Vertragsabschlüssen noch mit anderen Telcos (echten! und keine "pilot projects") zustande kommt und!:
lassen wir uns mal überraschen, was Rienk van Kamer in seinem nächsten Börsenbrief, der am 1. Juni erscheinen wird, zu Jyra schreiben wird; sicher wird er gut informiert sein (werden) über die wirklich real zu erwartenden Umsätze in diesem Jahr und . . . vielleicht schreibt er ja eine Kaufempfehlung für seine Leser, weil ihm die Aktie angesicht derartigen Aussichten als eindeutig unterbewertet erscheint ?
Antarius