** Lernout & Hauspie ** Research Teil3; Start 29.7.00 - 500 Beiträge pro Seite
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Meistdiskutierte Wertpapiere
Platz | vorher | Wertpapier | Kurs | Perf. % | Anzahl | ||
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1. | 1. | 18.704,42 | -0,18 | 186 | |||
2. | 4. | 6,5320 | -2,74 | 81 | |||
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8. | 3. | 4,4000 | -5,17 | 42 |
Nun hat er mich doch interessiert, der Artikel aus Forbes.com . Damit wollen wir auch gleich den 3. Teil des Lernout&Hauspie Speech Prods.-Threads eröffnen.
Die beiden vorhergehenden findet Ihr unter dem Suchwort <KiKo> oder <Lernout>. Dort sind konzentrierte Informationen zur grössten Sprachtechnologiefirma der Welt, an deren Erfolg wir in Zukunft partizipieren wollen.
Auch wenn in letzter Zeit kleine Firmen, wie Nuance, L&H outperformen konnten, sehe ich auf lange Sicht die grösseren Chancen bei L&H.
Viel Erfolg bei Euren Investments und einen interessanten 3 Thread wünscht
Yours digitally
KiKo
----------------------
Muffled Voice
By Deborah Orr
Nasdaq-listed Lernout & Hauspie Speech Products lost 16% of its value on July 5, the first trading day after the Belgian company published details of its first-quarter results. In May the company had announced a 49% rise in worldwide profit to $12 million, but the regional distribution of sales and earnings were made public on June 30 in a filing to the U.S. Securities and Exchange Commission. Investors were puzzled about the unusual surge in orders from Korea (to $59 million) at a time when sales in the rest of the world fell by 27% (to $52 million).
Lernout & Hauspie`s chief executive, Gaston Bastiaens, explains that the volatile sales trends are due to a recent change in strategy: Overall, the company aims to rely less on one-time sales of its speech software and more on creating recurring revenues through joint product development with voice portals, service providers and other clients. Gains in Korea were due to the acquisition of a local company.
Ronald Emrick, vice president of investments at Prudential Securities, which holds a position in Lernout & Hauspie, is not worried by the fall in U.S. and European earnings. He believes that revenues will start to pick up soon, as the 86 new contracts signed in the first quarter start to bear fruit.
But the stock market`s skepticism is more deeply rooted than just one quarter`s figures. The U.S. Securities and Exchange Commission forced the company to restate its results for 1997 and the first nine months of 1998 because they inflated the losses arising from R&D writeoffs in connection with the purchase of 12 companies. This restatement had the effect of lowering the firm`s reported losses in 1997 and 1998 and reducing profits for later years.
But such restatements are not unusual among high-tech companies growing fast through acquisitions. Netscape and dozens of other companies restated 1998 earnings for the same reason. Lernout & Hauspie never actually broke the law, but Bastiaens is employing a more conservative accounting method for new acquisitions.
With the $934 million acquisition of Dictaphone, the U.S.-based dictation and recording system firm, earlier this year, Lernout & Hauspie will book revenues only when the systems it sells are in operation, rather than merely signed for, explains Rob Stone, a Boston-based analyst for SG Cowen.
But some investors, including a vocal pack of short sellers, seem more concerned about the poor presentation of Lernout & Hauspie`s accounts than about the underlying value of the company. They`re overlooking the fact that it`s the only profitable firm in voice technology, demand for which is expected to boom as mobile Internet appliances grow in popularity.
Want to find out where you are on an electronic map while driving? Lernout & Hauspieis working with Visteon and Delphi, two of the world`s biggest car-parts makers, to enable drivers to obtain directions by means of voice-activated maps. What about accessing a web page from your cell phone? Chances are you will soon hear the contents read by a voice from Lernout & Hauspie`s labs. Many of the world`s voice portals already use the company`s "RealSpeak" product, which converts computer text to almost-human sounding speech.
Products such as these have helped to boost the stock from a split-adjusted $2.75 to $36 since it listed on Nasdaq five years ago, giving the company a market capitalization of $5 billion. Revenues have grown from $31 million in 1996 to $344 million last year, the first year the company turned a profit. Blue-chip investors include Microsoft (about 6%), Putnam Investments (5%) and Oppenheimer Funds (3%).
How did Lernout & Hauspiegain this following? Persistence is one reason. The firm`s Belgian founders--Jo Lernout and Pol Hauspie--have been plugging away singlemindedly at voice-recognition software since the 1980s.
Lernout was first drawn into speech technology while a young salesman at Wang Computers in 1982. He was in charge of selling Wang`s speech synthesizer for voice-mail systems in Western Europe. "Unfortunately, the system spoke only English," laughs Lernout. He could see the potential for a European product that spoke more than one language. His home of Flanders turned out to be the perfect place to develop the software, because engineers there grow up speaking French, Dutch, German and English.
In 1987 Lernout teamed up with Hauspie, an old friend, to start a voice-tech business in the Belgian city of Ieper (or Ypres in French). Hauspie was a computer nut who sold an accounting business he inherited from his father and put $100,000 into the new business. Lernout sold his house to raise $100,000, and other investors joined with another $100,000.
After two rounds of financings--including one that brought in $15 million from local farmers and textile merchants around Ieper--the company floated on Nasdaq in 1995. Together Lernout and Hauspie still own 15.5%, worth $795 million. They became cochairmen in 1996 and appointed Bastiaens, a former Philips man, to be CEO.
By today`s standards, 20 years may seem like a long time to nurture a startup. But the development of voice and translation technology goes back to World War II, when scientists in the U.S., Russia and Britain tried to crack coded enemy messages. But creating a computer program to recognize and respond to the human voice requires enormous amounts of memory and processing power, so most early attempts to codify and process speech ended in frustration.
Now, with processing power doubling every year and memory prices falling, speech technology has become a commercial proposition. But teaching computers to speak and listen requires more than raw processing power.
Computers need vast amounts of information to understand and interpret different languages, accents and voices. This is where Lernout & Hauspie`s 2,200 engineers, translators, linguists and editors have a competitive edge: They have access to the company`s huge archive of recorded voice data, which the company estimates as equivalent to the number of words that 35,000 people will speak over the course of a year. "In our business there is no data like more data," jokes Lernout.
The company is gaining more specialized data through acquisitions, most notably the purchase of Dictaphone. The $350 million (1999 revenues) company came with a vast store of audio data from reams of medical and legal transcriptions.
Bastiaens wants to combine Dictaphone`s know-how with its own European and Asian language software to offer transcription services for hospitals around the world. And it has launched a service called i-Chart, which enables outpatient clinics and even the smallest medical practice to download transcription software off the Internet.
Lernout & Hauspie is not the only voice technology company in the business. IBM, Philips, Lucent and AT&T are also involved, but for them voice technology is a low priority. "There seems to be an attitude among management that the research has to come up with a product before management will pour serious money into development," says Lernout.
His firm faces stiffer competition from small startups. These include Nuance, a Silicon Valley company that listed in April. Nuance specializes in voice recognition for use in telephonic applications such as call centers and appears to be outselling Lernout & Hauspie in this category in the U.S. But competitors expect Dragon, a recent $460 million acquisition by Lernout & Hauspie to give Nuance a run for its money. Dragon has some of the best engineers in the business and one of the most promising patent portfolios.
In the text-to-speech category, Lernout & Hauspie`s software is giving voice to scores of new applications every quarter--and at gross margins north of 90%. Despite the background noise from short sellers, Lernout & Hauspie is a company worth listening to.
----------------
Yours digitally
KiKo
Die beiden vorhergehenden findet Ihr unter dem Suchwort <KiKo> oder <Lernout>. Dort sind konzentrierte Informationen zur grössten Sprachtechnologiefirma der Welt, an deren Erfolg wir in Zukunft partizipieren wollen.
Auch wenn in letzter Zeit kleine Firmen, wie Nuance, L&H outperformen konnten, sehe ich auf lange Sicht die grösseren Chancen bei L&H.
Viel Erfolg bei Euren Investments und einen interessanten 3 Thread wünscht
Yours digitally
KiKo
----------------------
Muffled Voice
By Deborah Orr
Nasdaq-listed Lernout & Hauspie Speech Products lost 16% of its value on July 5, the first trading day after the Belgian company published details of its first-quarter results. In May the company had announced a 49% rise in worldwide profit to $12 million, but the regional distribution of sales and earnings were made public on June 30 in a filing to the U.S. Securities and Exchange Commission. Investors were puzzled about the unusual surge in orders from Korea (to $59 million) at a time when sales in the rest of the world fell by 27% (to $52 million).
Lernout & Hauspie`s chief executive, Gaston Bastiaens, explains that the volatile sales trends are due to a recent change in strategy: Overall, the company aims to rely less on one-time sales of its speech software and more on creating recurring revenues through joint product development with voice portals, service providers and other clients. Gains in Korea were due to the acquisition of a local company.
Ronald Emrick, vice president of investments at Prudential Securities, which holds a position in Lernout & Hauspie, is not worried by the fall in U.S. and European earnings. He believes that revenues will start to pick up soon, as the 86 new contracts signed in the first quarter start to bear fruit.
But the stock market`s skepticism is more deeply rooted than just one quarter`s figures. The U.S. Securities and Exchange Commission forced the company to restate its results for 1997 and the first nine months of 1998 because they inflated the losses arising from R&D writeoffs in connection with the purchase of 12 companies. This restatement had the effect of lowering the firm`s reported losses in 1997 and 1998 and reducing profits for later years.
But such restatements are not unusual among high-tech companies growing fast through acquisitions. Netscape and dozens of other companies restated 1998 earnings for the same reason. Lernout & Hauspie never actually broke the law, but Bastiaens is employing a more conservative accounting method for new acquisitions.
With the $934 million acquisition of Dictaphone, the U.S.-based dictation and recording system firm, earlier this year, Lernout & Hauspie will book revenues only when the systems it sells are in operation, rather than merely signed for, explains Rob Stone, a Boston-based analyst for SG Cowen.
But some investors, including a vocal pack of short sellers, seem more concerned about the poor presentation of Lernout & Hauspie`s accounts than about the underlying value of the company. They`re overlooking the fact that it`s the only profitable firm in voice technology, demand for which is expected to boom as mobile Internet appliances grow in popularity.
Want to find out where you are on an electronic map while driving? Lernout & Hauspieis working with Visteon and Delphi, two of the world`s biggest car-parts makers, to enable drivers to obtain directions by means of voice-activated maps. What about accessing a web page from your cell phone? Chances are you will soon hear the contents read by a voice from Lernout & Hauspie`s labs. Many of the world`s voice portals already use the company`s "RealSpeak" product, which converts computer text to almost-human sounding speech.
Products such as these have helped to boost the stock from a split-adjusted $2.75 to $36 since it listed on Nasdaq five years ago, giving the company a market capitalization of $5 billion. Revenues have grown from $31 million in 1996 to $344 million last year, the first year the company turned a profit. Blue-chip investors include Microsoft (about 6%), Putnam Investments (5%) and Oppenheimer Funds (3%).
How did Lernout & Hauspiegain this following? Persistence is one reason. The firm`s Belgian founders--Jo Lernout and Pol Hauspie--have been plugging away singlemindedly at voice-recognition software since the 1980s.
Lernout was first drawn into speech technology while a young salesman at Wang Computers in 1982. He was in charge of selling Wang`s speech synthesizer for voice-mail systems in Western Europe. "Unfortunately, the system spoke only English," laughs Lernout. He could see the potential for a European product that spoke more than one language. His home of Flanders turned out to be the perfect place to develop the software, because engineers there grow up speaking French, Dutch, German and English.
In 1987 Lernout teamed up with Hauspie, an old friend, to start a voice-tech business in the Belgian city of Ieper (or Ypres in French). Hauspie was a computer nut who sold an accounting business he inherited from his father and put $100,000 into the new business. Lernout sold his house to raise $100,000, and other investors joined with another $100,000.
After two rounds of financings--including one that brought in $15 million from local farmers and textile merchants around Ieper--the company floated on Nasdaq in 1995. Together Lernout and Hauspie still own 15.5%, worth $795 million. They became cochairmen in 1996 and appointed Bastiaens, a former Philips man, to be CEO.
By today`s standards, 20 years may seem like a long time to nurture a startup. But the development of voice and translation technology goes back to World War II, when scientists in the U.S., Russia and Britain tried to crack coded enemy messages. But creating a computer program to recognize and respond to the human voice requires enormous amounts of memory and processing power, so most early attempts to codify and process speech ended in frustration.
Now, with processing power doubling every year and memory prices falling, speech technology has become a commercial proposition. But teaching computers to speak and listen requires more than raw processing power.
Computers need vast amounts of information to understand and interpret different languages, accents and voices. This is where Lernout & Hauspie`s 2,200 engineers, translators, linguists and editors have a competitive edge: They have access to the company`s huge archive of recorded voice data, which the company estimates as equivalent to the number of words that 35,000 people will speak over the course of a year. "In our business there is no data like more data," jokes Lernout.
The company is gaining more specialized data through acquisitions, most notably the purchase of Dictaphone. The $350 million (1999 revenues) company came with a vast store of audio data from reams of medical and legal transcriptions.
Bastiaens wants to combine Dictaphone`s know-how with its own European and Asian language software to offer transcription services for hospitals around the world. And it has launched a service called i-Chart, which enables outpatient clinics and even the smallest medical practice to download transcription software off the Internet.
Lernout & Hauspie is not the only voice technology company in the business. IBM, Philips, Lucent and AT&T are also involved, but for them voice technology is a low priority. "There seems to be an attitude among management that the research has to come up with a product before management will pour serious money into development," says Lernout.
His firm faces stiffer competition from small startups. These include Nuance, a Silicon Valley company that listed in April. Nuance specializes in voice recognition for use in telephonic applications such as call centers and appears to be outselling Lernout & Hauspie in this category in the U.S. But competitors expect Dragon, a recent $460 million acquisition by Lernout & Hauspie to give Nuance a run for its money. Dragon has some of the best engineers in the business and one of the most promising patent portfolios.
In the text-to-speech category, Lernout & Hauspie`s software is giving voice to scores of new applications every quarter--and at gross margins north of 90%. Despite the background noise from short sellers, Lernout & Hauspie is a company worth listening to.
----------------
Yours digitally
KiKo
Wer sich für den Sprachmarkt interessiert - die Konkurrenz (mehr oder weniger):
Another AOL-backed IPO is on tap, and this one enjoys a stronger business. SpeechWorks (Nasdaq: SPWX - news) develops software that recognizes human speech. Talk may be cheap, but speech-recognition software stocks are expensive. Lernout & Hauspie Speech Products` (Nasdaq: LHSP - news) shares are up 25% this year, and Nuance Communications` (Nasdaq: NUAN - news) stock is up sevenfold from its offering price in April, when it was spotlighted in this column.
This software is popular with companies that spend heavily on customer service. Customer-service call centers are labor intensive, and automating some of those operations brings vast savings. But that`s not driving speech-recognition stock prices up--the wireless angle is.
With 1 billion cell phones expected on the market by 2003, the amount of data accessed through wireless devices is exploding. Rather than fumbling with a dial pad, callers can speak into the phone to retrieve data such as stock quotes or weather reports. Market researcher Kelsey Group estimates that voice portals will have 45 million regular users and generate $12 billion in sales by 2005.
SpeechWorks` closest competitor is Nuance. At a glance, the companies look like twins separated at birth. They have similar clientele: SpeechWorks claims E*Trade, DLJdirect, and United Airlines to Nuance`s Charles Schwab, Fidelity Investments, and Delta Air Lines.
SpeechWorks generated $5.1 million in revenue for the first quarter, up 99% from two quarters earlier. Those numbers are similar to Nuance`s. For both companies, gross margins for software range between 98% and 100%, which makes license sales virtually pure profit. Licenses account for more than three fourths of Nuance`s sales but barely half of SpeechWorks`. Thus, Nuance boasts overall gross margins of 80% compared with SpeechWorks` 71%. Also, Nuance came to market with a healthier balance sheet: Nuance carried more than 260 days` worth of cash, compared with 70 for SpeechWorks.
Nuance was the second-strongest aftermarket performer among all IPOs last quarter. Although SpeechWorks isn`t quite as strong, the company is chasing a massive market opportunity and has topnotch backers in AOL, AT&T, and Intel. Annualizing sales from the first quarter, SpeechWorks will trade at a multiple of 20. This price tag looks cheap compared with either Nuance, which trades at 140 times annualized sales, or America Online Latin America, set to price at roughly 40 times sales. Although the stock is worth a look at the offering price, the valuation is likely to balloon in the aftermarket. SpeechWorks` gain should be strong, but it is unlikely to be a moonshot because the company will float a large volume (16.4%) of total shares.
-------------
Yours digitally
KiKo
Another AOL-backed IPO is on tap, and this one enjoys a stronger business. SpeechWorks (Nasdaq: SPWX - news) develops software that recognizes human speech. Talk may be cheap, but speech-recognition software stocks are expensive. Lernout & Hauspie Speech Products` (Nasdaq: LHSP - news) shares are up 25% this year, and Nuance Communications` (Nasdaq: NUAN - news) stock is up sevenfold from its offering price in April, when it was spotlighted in this column.
This software is popular with companies that spend heavily on customer service. Customer-service call centers are labor intensive, and automating some of those operations brings vast savings. But that`s not driving speech-recognition stock prices up--the wireless angle is.
With 1 billion cell phones expected on the market by 2003, the amount of data accessed through wireless devices is exploding. Rather than fumbling with a dial pad, callers can speak into the phone to retrieve data such as stock quotes or weather reports. Market researcher Kelsey Group estimates that voice portals will have 45 million regular users and generate $12 billion in sales by 2005.
SpeechWorks` closest competitor is Nuance. At a glance, the companies look like twins separated at birth. They have similar clientele: SpeechWorks claims E*Trade, DLJdirect, and United Airlines to Nuance`s Charles Schwab, Fidelity Investments, and Delta Air Lines.
SpeechWorks generated $5.1 million in revenue for the first quarter, up 99% from two quarters earlier. Those numbers are similar to Nuance`s. For both companies, gross margins for software range between 98% and 100%, which makes license sales virtually pure profit. Licenses account for more than three fourths of Nuance`s sales but barely half of SpeechWorks`. Thus, Nuance boasts overall gross margins of 80% compared with SpeechWorks` 71%. Also, Nuance came to market with a healthier balance sheet: Nuance carried more than 260 days` worth of cash, compared with 70 for SpeechWorks.
Nuance was the second-strongest aftermarket performer among all IPOs last quarter. Although SpeechWorks isn`t quite as strong, the company is chasing a massive market opportunity and has topnotch backers in AOL, AT&T, and Intel. Annualizing sales from the first quarter, SpeechWorks will trade at a multiple of 20. This price tag looks cheap compared with either Nuance, which trades at 140 times annualized sales, or America Online Latin America, set to price at roughly 40 times sales. Although the stock is worth a look at the offering price, the valuation is likely to balloon in the aftermarket. SpeechWorks` gain should be strong, but it is unlikely to be a moonshot because the company will float a large volume (16.4%) of total shares.
-------------
Yours digitally
KiKo
Der Chart:
Hallo Kiko,
bei LHSP habe ich immer Probleme, die Bilanz zu bekommen oder im Internet einzusehen.
Die sind zwar Sprachensoftware, haben es aber bisher nicht geschafft, trotz mehrmaliger Anrufe mir
Unterlagen über den Laden zuzusenden.
In welchem Thread finde ich eine Kurzfassung der Bilanz und G u V ?
Oder könntest Du die wichtigsten Kennzahlen hier kurz einstellen?
mfg
thefarmer
bei LHSP habe ich immer Probleme, die Bilanz zu bekommen oder im Internet einzusehen.
Die sind zwar Sprachensoftware, haben es aber bisher nicht geschafft, trotz mehrmaliger Anrufe mir
Unterlagen über den Laden zuzusenden.
In welchem Thread finde ich eine Kurzfassung der Bilanz und G u V ?
Oder könntest Du die wichtigsten Kennzahlen hier kurz einstellen?
mfg
thefarmer
@thefarmer: schau mal in Deinen Briefkasten. Yours digitally
KiKo
KiKo
Monday July 31, 10:06 pm Eastern Time
Press Release
L&H Builds On Its Successes in Korea, Announces More Contracts With Korean Voice-for-Web Providers
L&H at Forefront of Voice-for-Web Industry; Continues Success in
Asia as it Announces Agreements with Korean-Based Voceweb.com, and
Leading Web-Based Publisher Joins.com
Lernout & Hauspie (NASDAQ: LHSP, EASDAQ: LHSP) (L&H) announced today additional contracts and agreements with Korean-based voice portal and voice-for-Web companies, furthering its position as the leading speech and language technology vendor in the rapidly growing voice-for-Web industry and the enterprise and telephony solutions markets worldwide. The company announced that it has taken a minority interest in VOCEWEB.COM a leading Korean-based Web portal technology developer. It also announced the formation of a joint venture with a leading Korean Web publisher, Joins.com, as well as a licensing agreement with Korean-based Justhear. The contracts and agreements follow on the heels of a number of new customer relationships with established Korean companies as well as several new contracts with voice portal and voice-for-Web vendors in the U.S.
L&H has recently experienced strong growth in a wide variety of industry sectors in Korea, most notably in the telephony, enterprise and voice-for-Web markets. In addition, to today`s announcements, L&H also recently signed agreements with Korea`s leading telecommunications conglomerate and prominent Internet service provider -- SK Corporation -- and with U.S. voice-for-Web providers, including TellMe, BeVocal, InternetSpeech, Webley and WebVersant.
``Our business in Korea is very successful as evidenced by today`s announcements, our other recent wins in that region and our strong revenues. We are quite pleased with our business model in Korea and the successes it has brought in our key markets, including telephony, enterprise solutions and voice-for-Web solutions,`` said Gaston Bastiaens, president and CEO of L&H. ``As we further roll out our voice-for-Web strategy worldwide, we intend to employ our Korean business model. We are also planning to implement our Korean business model to expand our enterprise and telephony activities worldwide.``
Korean Companies Look to L&H to Support Voice-for-Web Services
VOCEWEB.COM, a Korean voice-for-Web and voice portal technology provider and intends to work together with L&H to integrate L&H RealSpeak(TM) technology, its automatic speech recognition (ASR) engine, and its natural language components for use in VOCEWEB.COM`s voice portal, voice Web production, and voice Web hosting services. Additionally, VOCEWEB.COM plans to use L&H`s technology in its voice-based entertainment service, called Phontainment. L&H has also taken a minority interest in VOCEWEB.COM as part of its strategy to further its leadership role in the voice portal and voice-for-Web industry. VOCEWEB.COM currently has 14 domestic patent applications related to voice portal services.
Justhear Co., Ltd., a Seoul-based company, has licensed L&H RealSpeak technology and L&H(TM) ASR automatic speech recognition software for use in its voice integration services, including voice portal and other voice-for-Web applications. Justhear`s voice portal service is expected to allow users to access Web content and search for information via telephone, cellular phone and other digital communication devices, using voice commands enabled by the L&H ASR engine. In addition, users will be able to save Web content to .wav files and later convert them into .mp3 and other digital sound files that can be played with a digital sound device. Justhear also plans to employ L&H RealSpeak to offer users the option of having email read to them over the Internet, telephone, cellular phone, and other digital communication devices.
L&H and Joins.Com Create Voice-for-Web Venture
-------------
Yours digitally
KiKo
Press Release
L&H Builds On Its Successes in Korea, Announces More Contracts With Korean Voice-for-Web Providers
L&H at Forefront of Voice-for-Web Industry; Continues Success in
Asia as it Announces Agreements with Korean-Based Voceweb.com, and
Leading Web-Based Publisher Joins.com
Lernout & Hauspie (NASDAQ: LHSP, EASDAQ: LHSP) (L&H) announced today additional contracts and agreements with Korean-based voice portal and voice-for-Web companies, furthering its position as the leading speech and language technology vendor in the rapidly growing voice-for-Web industry and the enterprise and telephony solutions markets worldwide. The company announced that it has taken a minority interest in VOCEWEB.COM a leading Korean-based Web portal technology developer. It also announced the formation of a joint venture with a leading Korean Web publisher, Joins.com, as well as a licensing agreement with Korean-based Justhear. The contracts and agreements follow on the heels of a number of new customer relationships with established Korean companies as well as several new contracts with voice portal and voice-for-Web vendors in the U.S.
L&H has recently experienced strong growth in a wide variety of industry sectors in Korea, most notably in the telephony, enterprise and voice-for-Web markets. In addition, to today`s announcements, L&H also recently signed agreements with Korea`s leading telecommunications conglomerate and prominent Internet service provider -- SK Corporation -- and with U.S. voice-for-Web providers, including TellMe, BeVocal, InternetSpeech, Webley and WebVersant.
``Our business in Korea is very successful as evidenced by today`s announcements, our other recent wins in that region and our strong revenues. We are quite pleased with our business model in Korea and the successes it has brought in our key markets, including telephony, enterprise solutions and voice-for-Web solutions,`` said Gaston Bastiaens, president and CEO of L&H. ``As we further roll out our voice-for-Web strategy worldwide, we intend to employ our Korean business model. We are also planning to implement our Korean business model to expand our enterprise and telephony activities worldwide.``
Korean Companies Look to L&H to Support Voice-for-Web Services
VOCEWEB.COM, a Korean voice-for-Web and voice portal technology provider and intends to work together with L&H to integrate L&H RealSpeak(TM) technology, its automatic speech recognition (ASR) engine, and its natural language components for use in VOCEWEB.COM`s voice portal, voice Web production, and voice Web hosting services. Additionally, VOCEWEB.COM plans to use L&H`s technology in its voice-based entertainment service, called Phontainment. L&H has also taken a minority interest in VOCEWEB.COM as part of its strategy to further its leadership role in the voice portal and voice-for-Web industry. VOCEWEB.COM currently has 14 domestic patent applications related to voice portal services.
Justhear Co., Ltd., a Seoul-based company, has licensed L&H RealSpeak technology and L&H(TM) ASR automatic speech recognition software for use in its voice integration services, including voice portal and other voice-for-Web applications. Justhear`s voice portal service is expected to allow users to access Web content and search for information via telephone, cellular phone and other digital communication devices, using voice commands enabled by the L&H ASR engine. In addition, users will be able to save Web content to .wav files and later convert them into .mp3 and other digital sound files that can be played with a digital sound device. Justhear also plans to employ L&H RealSpeak to offer users the option of having email read to them over the Internet, telephone, cellular phone, and other digital communication devices.
L&H and Joins.Com Create Voice-for-Web Venture
-------------
Yours digitally
KiKo
Die Asiaten sind uns doch um Lichtjahre voraus, was in Text umgewandelte Sprache betrifft, isn`t it? Oder Handys ohne Tastatur---ja wie bedient man die nur????????
Kiko: Danke!
mfg
thefarmer
mfg
thefarmer
Es geht los, das Potential wird erkannt und von RedHerring.com erwähnt:
--------------
Investors recognize the potential of voice
By Stephen Lucey
Redherring.com, August 02, 2000
Speechworks International (Nasdaq: SPWX) soared in its market debut on Tuesday. Shares of the Boston-based speech recognition software company climbed as high as $67.25 in mid-day trading before closing at $56.75 -- a gain of 183 percent.
The strong performance by Speechworks came after the company increased its offering price range to $17 to $19 per share from the previous range of $13 to $15. Still, the demand for the stock proved to be so strong that the shares priced above the final range at $20.
The early success of Speechworks resembles the performance of its key competitor, Nuance Communications (Nasdaq: NUAN), which went public in April and has soared 650 percent from its offering price -- despite an 8 percent drop on Tuesday in the wake of the Speechworks IPO.
WHY THE SUDDEN DEMAND?
The early excitement among investors for these two offerings might be a bit premature for an industry that is just on the brink of its growth cycle and only really hit investors` radar screens in the last six months.
There are three factors that are driving the demand in this new area of the market, according to Matt Luckett, an analyst at Wit Soundview in New York. (Wit Soundview was one of the co-underwriters for the Nuance offering.)
The first is the proliferation of wireless products, especially cell phones, which are driving the need to make the so-called "voice Web" a reality. Companies such as Tellme Networks and BeVocal allow customers to access information such as restaurant listings, the weather, and stock quotes through voice command. Both companies use Nuance`s voice-recognition technology.
The second factor that Mr. Luckett points to is the continued demand among the public for self-service information outlets. With the explosion of the Internet, people have become accustomed to using it for everything from shopping to stock trading, and completing those tasks at their own pace.
But technology is probably the largest factor driving this boom in voice-control software. The computer power needed to run these products is so large that the option of using them on a desktop computer to complete simple tasks such as "speaking" or "listening" to emails has not been an option for most PC users in the past. But with the speed of computers and servers increasing, trading stocks on the Fidelity Investments Web site with just voice commands is now a reality.
BUT IS IT ACCURATE?
With so many different voice tones and dialects, not to mention the issue of languages, is the new voice software just as reliable as a real person or a keyboard?
According to Katherine Egbert, an analyst at Thomas Weisel Partners in San Francisco (which also served as a co-underwriter for Nuance), the quality of the software is continuing to improve each year and currently operates at about a 96 percent accuracy rate for many enterprise usages, such as booking airline tickets over the telephone or tracking packages with UPS.
Although Nuance and Speechworks tend to be the two better-known players in the voice software space as of late,
Lernout & Hauspie (Nasdaq: LHSP) is actually the larger and more established player.
Lernout is expected to have a revenue run rate of $1 billion by the fourth quarter of 2000, according to Rob Stone, an analyst with S.G. Cowen in Boston. The company has firmer roots planted in the Asian markets and is the leader in medical voice dictation software, which is a $6 billion industry in the U.S. alone.
The key for the industry, according to Mr. Stone, will be how rapidly voice software technology proliferates in the automobile, consumer electronics, and PC/multimedia sectors. As more manufacturers embrace voice technology and the cost curves flatten, Speechworks and Nuance should start to generate the types of healthy revenue gains that investors are obviously anticipating. The industry as a whole is expected to grow to $12 billion over the next five years, according to Ms. Egbert.
Investors looking at these companies should take note of this estimate -- not because of the dollar amount but regarding the time frame attached to the figure. The space will grow as the technology continues to be the main driver of developments in the capabilities and accuracy of the software. But in a market regularly led by investors looking for overnight gains, there may be some rocky days ahead until the sector matures.
-------------
Yours digitally
KiKo
--------------
Investors recognize the potential of voice
By Stephen Lucey
Redherring.com, August 02, 2000
Speechworks International (Nasdaq: SPWX) soared in its market debut on Tuesday. Shares of the Boston-based speech recognition software company climbed as high as $67.25 in mid-day trading before closing at $56.75 -- a gain of 183 percent.
The strong performance by Speechworks came after the company increased its offering price range to $17 to $19 per share from the previous range of $13 to $15. Still, the demand for the stock proved to be so strong that the shares priced above the final range at $20.
The early success of Speechworks resembles the performance of its key competitor, Nuance Communications (Nasdaq: NUAN), which went public in April and has soared 650 percent from its offering price -- despite an 8 percent drop on Tuesday in the wake of the Speechworks IPO.
WHY THE SUDDEN DEMAND?
The early excitement among investors for these two offerings might be a bit premature for an industry that is just on the brink of its growth cycle and only really hit investors` radar screens in the last six months.
There are three factors that are driving the demand in this new area of the market, according to Matt Luckett, an analyst at Wit Soundview in New York. (Wit Soundview was one of the co-underwriters for the Nuance offering.)
The first is the proliferation of wireless products, especially cell phones, which are driving the need to make the so-called "voice Web" a reality. Companies such as Tellme Networks and BeVocal allow customers to access information such as restaurant listings, the weather, and stock quotes through voice command. Both companies use Nuance`s voice-recognition technology.
The second factor that Mr. Luckett points to is the continued demand among the public for self-service information outlets. With the explosion of the Internet, people have become accustomed to using it for everything from shopping to stock trading, and completing those tasks at their own pace.
But technology is probably the largest factor driving this boom in voice-control software. The computer power needed to run these products is so large that the option of using them on a desktop computer to complete simple tasks such as "speaking" or "listening" to emails has not been an option for most PC users in the past. But with the speed of computers and servers increasing, trading stocks on the Fidelity Investments Web site with just voice commands is now a reality.
BUT IS IT ACCURATE?
With so many different voice tones and dialects, not to mention the issue of languages, is the new voice software just as reliable as a real person or a keyboard?
According to Katherine Egbert, an analyst at Thomas Weisel Partners in San Francisco (which also served as a co-underwriter for Nuance), the quality of the software is continuing to improve each year and currently operates at about a 96 percent accuracy rate for many enterprise usages, such as booking airline tickets over the telephone or tracking packages with UPS.
Although Nuance and Speechworks tend to be the two better-known players in the voice software space as of late,
Lernout & Hauspie (Nasdaq: LHSP) is actually the larger and more established player.
Lernout is expected to have a revenue run rate of $1 billion by the fourth quarter of 2000, according to Rob Stone, an analyst with S.G. Cowen in Boston. The company has firmer roots planted in the Asian markets and is the leader in medical voice dictation software, which is a $6 billion industry in the U.S. alone.
The key for the industry, according to Mr. Stone, will be how rapidly voice software technology proliferates in the automobile, consumer electronics, and PC/multimedia sectors. As more manufacturers embrace voice technology and the cost curves flatten, Speechworks and Nuance should start to generate the types of healthy revenue gains that investors are obviously anticipating. The industry as a whole is expected to grow to $12 billion over the next five years, according to Ms. Egbert.
Investors looking at these companies should take note of this estimate -- not because of the dollar amount but regarding the time frame attached to the figure. The space will grow as the technology continues to be the main driver of developments in the capabilities and accuracy of the software. But in a market regularly led by investors looking for overnight gains, there may be some rocky days ahead until the sector matures.
-------------
Yours digitally
KiKo
seit 02.08. kein Posting mehr, hat niemand den Wochenanstieg von 22,xx%
vermerkt????
Bin absolut bullish für diesen Wert, bin am Freitag noch eingestiegen.
Wie seht Ihr die weiteren Aussichten für L&H
vermerkt????
Bin absolut bullish für diesen Wert, bin am Freitag noch eingestiegen.
Wie seht Ihr die weiteren Aussichten für L&H
Schaut Euch mal bei diesem Link um:
http://fife.speech.cs.cmu.edu/comp.speech/
Welcome to the comp.speech Frequently Asked Questions WWW site. This site provides a range of information on speech technology, including speech synthesis, speech recognition, speech coding, and related material. The information is regularly posted to the comp.speech newsgroup as the "comp.speech FAQ" posting. This site is mirrored at several other WWW sites around the world (Australia, UK, Japan and USA) and the information is also available in a plain text format.
--------------
ballard1: 1. Sicher doch. 2. Sehr positiv, drum mache ich mir ja die Mühe.
Yours digitally
KiKo
http://fife.speech.cs.cmu.edu/comp.speech/
Welcome to the comp.speech Frequently Asked Questions WWW site. This site provides a range of information on speech technology, including speech synthesis, speech recognition, speech coding, and related material. The information is regularly posted to the comp.speech newsgroup as the "comp.speech FAQ" posting. This site is mirrored at several other WWW sites around the world (Australia, UK, Japan and USA) and the information is also available in a plain text format.
--------------
ballard1: 1. Sicher doch. 2. Sehr positiv, drum mache ich mir ja die Mühe.
Yours digitally
KiKo
Müssen sich gute Werte immer so schnell erholen?
Wollte noch mehr Stücke. Leider kein Cash. Erst in ein paar Wochen wieder.
Sch....
mfg
thefarmer
Wollte noch mehr Stücke. Leider kein Cash. Erst in ein paar Wochen wieder.
Sch....
mfg
thefarmer
Hoffentlich bekommst Du nicht doch noch mal Gelegenheit zum aufstocken..
Die Shortrate liegt bei ca 10% vom Float, und die werden sich nicht so schnell geschlagen geben. Die haben längst Antworten auf alle Zahlen, die präsentiert werden, v.a. nachdem die Bilanzierungsmodalitäten von L+H auf kontinuierlichen Cashflow umgeändert wurden, was zu einer Reduktion des Quartals, aber nicht des Jahresergebnisses führen wird. Größter Knackpunkt wird das nachlassende Wachstum in Europa und USA sein, während die immensen Steigerungsraten in Asien als "Krisenmarkt" mit unsicheren politischen Verhältnissen" vernachlässigt werden.
Mit einem Wort, die Analysten mögen L+H nicht, zum einen weil sie eine Nicht US-Firma sind (und damit Steinzeitmenschen), zum anderen weil L+H wirklich nicht Weltmeister der Public-Relation sind.
Die Messer sind längst gewetzt.
Und genau hierin liegt die einmalige Chance für den langfristig orientierten Anleger: Technisch haben wir hier den Marktführer auf einem immensen Wachstumsmarkt mit hoher Markteintrittsschwelle (Das hat sogar Förtsch mit seinem Käseblatt erkannt, darin sieht er in L+H ein Verzehnfacher auf Sicht der nächsten 18 bis 36 Monate).
Die aktuellen Bewertungen kleinerer Konkurrenten wie NUAN, SPWX etc. lassen gerade mal erahnen, was hier noch vor uns liegt.
Allerdings bin ich skeptisch, ob das gerade ab morgen geschieht.
Übrigens fahre ich heute in eine Mercedes Niederlassung und lasse mir ihr sprachgesteuerten Boardcomputer demonstrieren, und vor allem will ich wissen, von wem die Software stammt.
Bin ja mal gespannt, ob ich Antworten bekomme.
Die Shortrate liegt bei ca 10% vom Float, und die werden sich nicht so schnell geschlagen geben. Die haben längst Antworten auf alle Zahlen, die präsentiert werden, v.a. nachdem die Bilanzierungsmodalitäten von L+H auf kontinuierlichen Cashflow umgeändert wurden, was zu einer Reduktion des Quartals, aber nicht des Jahresergebnisses führen wird. Größter Knackpunkt wird das nachlassende Wachstum in Europa und USA sein, während die immensen Steigerungsraten in Asien als "Krisenmarkt" mit unsicheren politischen Verhältnissen" vernachlässigt werden.
Mit einem Wort, die Analysten mögen L+H nicht, zum einen weil sie eine Nicht US-Firma sind (und damit Steinzeitmenschen), zum anderen weil L+H wirklich nicht Weltmeister der Public-Relation sind.
Die Messer sind längst gewetzt.
Und genau hierin liegt die einmalige Chance für den langfristig orientierten Anleger: Technisch haben wir hier den Marktführer auf einem immensen Wachstumsmarkt mit hoher Markteintrittsschwelle (Das hat sogar Förtsch mit seinem Käseblatt erkannt, darin sieht er in L+H ein Verzehnfacher auf Sicht der nächsten 18 bis 36 Monate).
Die aktuellen Bewertungen kleinerer Konkurrenten wie NUAN, SPWX etc. lassen gerade mal erahnen, was hier noch vor uns liegt.
Allerdings bin ich skeptisch, ob das gerade ab morgen geschieht.
Übrigens fahre ich heute in eine Mercedes Niederlassung und lasse mir ihr sprachgesteuerten Boardcomputer demonstrieren, und vor allem will ich wissen, von wem die Software stammt.
Bin ja mal gespannt, ob ich Antworten bekomme.
Habe mir mal den englischen Text aus KiKo`s Beitrag von L&Hs neuem "i-Translator" übersetzen lassen. Hier das Ergebnis:
"Begrüßen Sie zum comp.Rede fragte Fragen WWW Stelle Häufig. Diese Stelle stellt einen Bereich von Informationen auf Rede-Technologie, einschließlich Rede-Synthese, Sprach-Erkennung, Rede-Kodierung, und verwandten Materials, bereit. Die Informationen werden regelmäßig zum comp geschickt.Rede-newsgroup als der " comp.Rede FAQ " Versetzung. Diese Stelle wird bei mehreren anderen WWW Stellen um die Welt gespiegelt (Australien, VEREINIGTE KÖNIGREICH, Japan und USA) und die Informationen sind auch in einem schlichter Text Format verfügbar."
Da haperts aber noch mit der Rede-Synthese und mit der Spracherkennung!
So long King Kong
"Begrüßen Sie zum comp.Rede fragte Fragen WWW Stelle Häufig. Diese Stelle stellt einen Bereich von Informationen auf Rede-Technologie, einschließlich Rede-Synthese, Sprach-Erkennung, Rede-Kodierung, und verwandten Materials, bereit. Die Informationen werden regelmäßig zum comp geschickt.Rede-newsgroup als der " comp.Rede FAQ " Versetzung. Diese Stelle wird bei mehreren anderen WWW Stellen um die Welt gespiegelt (Australien, VEREINIGTE KÖNIGREICH, Japan und USA) und die Informationen sind auch in einem schlichter Text Format verfügbar."
Da haperts aber noch mit der Rede-Synthese und mit der Spracherkennung!
So long King Kong
...At one time, Lotus 1-2-3 was considered the industry-standard spreadsheet; Excel
now holds that distinction, almost always coming out on top in side-by-side
spreadsheet comparisons. Excel 2000 can use HTML as a native file format and has
self-repair capability, an enhanced clipboard, pivot charts, and easily
accessible user forms.
Excel works with a variety of speech-recognition software packages, such as
those sold by Lernout & Hauspie Speech Products N.V. and Dragon Systems Inc.
Microsoft`s spokeswoman says Excel stands out because of its easy connectivity
to data, which lets users more readily analyze the information needed to make
decisions. Excel also provides unprecedented tools that let users share,
analyze, and collaborate on information over the Web, according to the
spokeswoman...
------------------
Highlights of the year
easycando -- build-up and launch
March 22nd 2000 -- Futuremedia officially launched easycando(TM), a powerful new e-learning service that combines market leading content, delivery technology and services in a single solution. During the run-up to the launch, numerous partnership agreements were announced:
Futuremedia announced a strategic agreement with Lernout & Hauspie, a world leader in speech and language technology. Under the agreement, Futuremedia licensed L&H`s technology, to speech-enable the easycando web-site and to offer it in multiple languages.
Intellexis International signed up to provide financial learning content to easycando.com. Intellexis International offered its "Finance for Managers Learning Solution" -- which includes subject material on a full range of topics, from the basics of finance up to shareholder value...
--------------
MARKHAM, Ontario, Aug 3, 2000 (BUSINESS WIRE) -- BCB Voice Systems Inc.
(CDNX:BIV) today announced that it intends to call a special meeting of shareholders in late September to seek approval to change the Company`s name from BCB Voice Systems to VoiceIQ.
"The proposed name change will more clearly reflect our mission of bringing intelligent conversational computing to a broad number of markets," said Terry Graham, Chairman and CEO of BCB. "We`ve evolved beyond our core applications and are transcending the limitations of current speech development tools. We`re doing this through the delivery of a complete voice-operating platform that
utilizes artificial intelligence to enable secure voice-driven transactions, sophisticated internet and database searches, and data mining applications - such as fraud detection - within mobile, desktop, telephony, handheld and e-commerce environments. The architecture of the platform will be open standard
based and include published specifications in order to encourage rapid market adoption by Telecommunication Operators, OEMs, ASPs, ISPs, Financial Institutions and Governments."
Graham points out that the rapid evolution of his Company is directly related to its acquisition of a minority equity position in International Neural Machines Inc., of Waterloo, Ontario. BCB and INM are currently investigating the possibility of merging their two companies.
"As VoiceIQ, we intend to compete for a share of the rapidly growing market for voice-control software," said Graham. Katherine Egbert, an analyst at Thomas Weisel Partners in San Francisco estimates that this market is expected to grow to $12 billion over the next five years and names Nuance Communications (NUAN:NASDAQ) and Speechworks International (SPWX:NASDAQ) as major players in
that market.
The largest and most established vendor of voice software is
Lernout & Hauspie
(LHSP:NASDAQ) which currently holds a 15% stake in BCB. As well, Flanders Language Valley Fund, the largest venture fund in the world focused on speech, artificial intelligence and language technologies, holds a 23% interest.
"We`re preparing to compete with Nuance and Speechworks," said Graham. "It`s only appropriate. The genesis of the technology used by Nuance is from Stanford, the genesis of the technology used by Speechworks is from MIT and the genesis of our own platform is from Waterloo. Each of these advanced research centres offer
a rich history of developing transformational ideas and tools and this is simply a continuance of that heritage."
CONTACT: BCB Voice Systems Inc.
Peter Vanderlee
905/948-8266 ext.204
800/263-9947
or
Investor Relations
Chris Cory/Phil Williams
416/323-3888 ext.3009
877/699-9166
-------------
Yours digitally
KiKo
now holds that distinction, almost always coming out on top in side-by-side
spreadsheet comparisons. Excel 2000 can use HTML as a native file format and has
self-repair capability, an enhanced clipboard, pivot charts, and easily
accessible user forms.
Excel works with a variety of speech-recognition software packages, such as
those sold by Lernout & Hauspie Speech Products N.V. and Dragon Systems Inc.
Microsoft`s spokeswoman says Excel stands out because of its easy connectivity
to data, which lets users more readily analyze the information needed to make
decisions. Excel also provides unprecedented tools that let users share,
analyze, and collaborate on information over the Web, according to the
spokeswoman...
------------------
Highlights of the year
easycando -- build-up and launch
March 22nd 2000 -- Futuremedia officially launched easycando(TM), a powerful new e-learning service that combines market leading content, delivery technology and services in a single solution. During the run-up to the launch, numerous partnership agreements were announced:
Futuremedia announced a strategic agreement with Lernout & Hauspie, a world leader in speech and language technology. Under the agreement, Futuremedia licensed L&H`s technology, to speech-enable the easycando web-site and to offer it in multiple languages.
Intellexis International signed up to provide financial learning content to easycando.com. Intellexis International offered its "Finance for Managers Learning Solution" -- which includes subject material on a full range of topics, from the basics of finance up to shareholder value...
--------------
MARKHAM, Ontario, Aug 3, 2000 (BUSINESS WIRE) -- BCB Voice Systems Inc.
(CDNX:BIV) today announced that it intends to call a special meeting of shareholders in late September to seek approval to change the Company`s name from BCB Voice Systems to VoiceIQ.
"The proposed name change will more clearly reflect our mission of bringing intelligent conversational computing to a broad number of markets," said Terry Graham, Chairman and CEO of BCB. "We`ve evolved beyond our core applications and are transcending the limitations of current speech development tools. We`re doing this through the delivery of a complete voice-operating platform that
utilizes artificial intelligence to enable secure voice-driven transactions, sophisticated internet and database searches, and data mining applications - such as fraud detection - within mobile, desktop, telephony, handheld and e-commerce environments. The architecture of the platform will be open standard
based and include published specifications in order to encourage rapid market adoption by Telecommunication Operators, OEMs, ASPs, ISPs, Financial Institutions and Governments."
Graham points out that the rapid evolution of his Company is directly related to its acquisition of a minority equity position in International Neural Machines Inc., of Waterloo, Ontario. BCB and INM are currently investigating the possibility of merging their two companies.
"As VoiceIQ, we intend to compete for a share of the rapidly growing market for voice-control software," said Graham. Katherine Egbert, an analyst at Thomas Weisel Partners in San Francisco estimates that this market is expected to grow to $12 billion over the next five years and names Nuance Communications (NUAN:NASDAQ) and Speechworks International (SPWX:NASDAQ) as major players in
that market.
The largest and most established vendor of voice software is
Lernout & Hauspie
(LHSP:NASDAQ) which currently holds a 15% stake in BCB. As well, Flanders Language Valley Fund, the largest venture fund in the world focused on speech, artificial intelligence and language technologies, holds a 23% interest.
"We`re preparing to compete with Nuance and Speechworks," said Graham. "It`s only appropriate. The genesis of the technology used by Nuance is from Stanford, the genesis of the technology used by Speechworks is from MIT and the genesis of our own platform is from Waterloo. Each of these advanced research centres offer
a rich history of developing transformational ideas and tools and this is simply a continuance of that heritage."
CONTACT: BCB Voice Systems Inc.
Peter Vanderlee
905/948-8266 ext.204
800/263-9947
or
Investor Relations
Chris Cory/Phil Williams
416/323-3888 ext.3009
877/699-9166
-------------
Yours digitally
KiKo
Wenn ich mir den Chart so anschaue, wurde eindeutig die 38-Tage von unten nach oben durchbrochen. Und das unter hohen Umsätzen. Sehr gutes Kaufsignal. Erwarte weiteren positiven Verlauf.
Yours digitally
KiKo
Yours digitally
KiKo
was geht, gestern Nasdaq +5%, heute Eröffnung -5%???????
Hi warum fällt heute morgen LHSP über 10% in Deutschland?Bei 37Dollar
müßten sie doch 40,70 Euro stehen.Wisst Ihr was?
mfg
Niere
müßten sie doch 40,70 Euro stehen.Wisst Ihr was?
mfg
Niere
Grund: s. obiges Posting
Heute negativer Artikel im Wallstreet-Journal, und das bereits vor den Zahlen. Hab ich auch noch nicht erlebt, daß auf eine Firma bereits vor den Zahlen eingedroschen wird. Skiba (der Autor) hat die ja noch nie gemocht und wartet auf seine Chance, sein Kursziel von 30$ vor Split endlich zu realisieren.
Wieder ist von Bilanzierungsbetrügereien und nachlassendem Wachstum die Rede.
LHSP wird es heute sehr sehr schwer haben, wenn sie mit den angekündigten "schwachen" Zahlen kommen.
Heute müßten sie schon einen rosa Elefanten aus dem Hut zaubern (großer neuer Partner aus Japan??, nur so eine Hoffnung), um nicht abgeschlachtet zu werden.
Wer sich traut, kauft jetzt zu, den an den Jahresaussichten hat sich nichts geändert, im Moment absolut kein Wert für schwache Nerven, kann mir gut vorstellen, daß wir die 30 nach unten durchstoßen. Dies allerdings nicht aufgrund fundamentaler Änderungen, sondern einzig durch Trader. Wer Millionär werden möchte, muß da durch.
Heute negativer Artikel im Wallstreet-Journal, und das bereits vor den Zahlen. Hab ich auch noch nicht erlebt, daß auf eine Firma bereits vor den Zahlen eingedroschen wird. Skiba (der Autor) hat die ja noch nie gemocht und wartet auf seine Chance, sein Kursziel von 30$ vor Split endlich zu realisieren.
Wieder ist von Bilanzierungsbetrügereien und nachlassendem Wachstum die Rede.
LHSP wird es heute sehr sehr schwer haben, wenn sie mit den angekündigten "schwachen" Zahlen kommen.
Heute müßten sie schon einen rosa Elefanten aus dem Hut zaubern (großer neuer Partner aus Japan??, nur so eine Hoffnung), um nicht abgeschlachtet zu werden.
Wer sich traut, kauft jetzt zu, den an den Jahresaussichten hat sich nichts geändert, im Moment absolut kein Wert für schwache Nerven, kann mir gut vorstellen, daß wir die 30 nach unten durchstoßen. Dies allerdings nicht aufgrund fundamentaler Änderungen, sondern einzig durch Trader. Wer Millionär werden möchte, muß da durch.
hab irgendwo was von einer Microsoft Beteiligung an L & H gelesen, würde mich aktuell beruhigen
@carnado
Bin völlig deiner Meinung. Insbesondere, was den letzten Satz betrifft. Für mich ist Lern. & Hauspie eine der ganz großen Geschichten der nächsten Jahre. Ein Unternehmen der Superlative. Bin auch schon seit mehr als einem Jahr investiert und denke eigentlich gar nicht daran, zu verkaufen. Heute schlechte Zahlen und morgen nachlassendes (!) Wachstum (einfach lächerlich, wenn man sich das Segment ansieht, welches ja erst im Entstehen ist), daß sind alles nur Strohfeuer, die an der Tatsache nichts ändern, daß L&H Marktführer in einer nächsten killer-applikation ist. Ein Verkaufssignal gibt es nur dann, wenn die marktführende Position nicht gehalten werden kann, was ich momentan nicht sehe. Und in diesem Falle wird in den neuen Marktführer investiert. Das alles mag in der heutigen Zeit, in der jeder innerhalb von Wochen Millionen machen will, etwas altmodich klingen, ist aber meiner Meinung nach der solideste und sicherste Weg zu Wohlstand. Nur muß man eben auf Guthabenbasis investieren können.
Gruß goldgo
Bin völlig deiner Meinung. Insbesondere, was den letzten Satz betrifft. Für mich ist Lern. & Hauspie eine der ganz großen Geschichten der nächsten Jahre. Ein Unternehmen der Superlative. Bin auch schon seit mehr als einem Jahr investiert und denke eigentlich gar nicht daran, zu verkaufen. Heute schlechte Zahlen und morgen nachlassendes (!) Wachstum (einfach lächerlich, wenn man sich das Segment ansieht, welches ja erst im Entstehen ist), daß sind alles nur Strohfeuer, die an der Tatsache nichts ändern, daß L&H Marktführer in einer nächsten killer-applikation ist. Ein Verkaufssignal gibt es nur dann, wenn die marktführende Position nicht gehalten werden kann, was ich momentan nicht sehe. Und in diesem Falle wird in den neuen Marktführer investiert. Das alles mag in der heutigen Zeit, in der jeder innerhalb von Wochen Millionen machen will, etwas altmodich klingen, ist aber meiner Meinung nach der solideste und sicherste Weg zu Wohlstand. Nur muß man eben auf Guthabenbasis investieren können.
Gruß goldgo
speechworks WKN 940670 ( SPWX ) Umsätze ca. 100-200 Mill.
Nuance WKN 936130 ( NUAN ) Umsätze cd. 50- 80 Mill.
das sind die Gewinner der Spracherkennung
denn L&H wird immer mehr Leerverkauft
Nuance WKN 936130 ( NUAN ) Umsätze cd. 50- 80 Mill.
das sind die Gewinner der Spracherkennung
denn L&H wird immer mehr Leerverkauft
und die leerverkäufer werden sich irgendwann wieder eindecken müssen wie von nov.99 bis märz 00 passiert.
weil lernout sich durchsetzen wird.
ditto
weil lernout sich durchsetzen wird.
ditto
RT 27.75$! Rette sich, wer kann!
@carnado, geht echt schneller als wir dachten, oder?
Wie kann man so einen Wert so verprügeln
Wie kann man so einen Wert so verprügeln
An Ballard: Microsoft hält ca 7%, und wer weiß, zu diesen Kursen bald mehr. Außerdem Intel, Lucent, Nortel, ...
Nach der Konsolidierung war der letzte Anstieg nur von Spekulanten getragen in der Hoffnung auf schnelle Gewinne vor den Zahlen. Die Trader sind wegen des Artikels wieder raus, aber vielleicht versuchen sie ja morgen schon wieder reinzukommen.
Bin ja mal gespannt, ob Jo und Paul noch einen Joker im Ärmel haben.
Auf alle Fälle eine gute Gelegenheit, sich für einen vorzeitigen Ausstieg aus dem Berufsleben vorzubereiten.
Bei einem Kursziel innerhalb der nächsten 5 Jahre von 1000 $ sollten aktuelle Schwankungen zwischen 20 und 40 kein Grund zur Aufregung sein.
Nach der Konsolidierung war der letzte Anstieg nur von Spekulanten getragen in der Hoffnung auf schnelle Gewinne vor den Zahlen. Die Trader sind wegen des Artikels wieder raus, aber vielleicht versuchen sie ja morgen schon wieder reinzukommen.
Bin ja mal gespannt, ob Jo und Paul noch einen Joker im Ärmel haben.
Auf alle Fälle eine gute Gelegenheit, sich für einen vorzeitigen Ausstieg aus dem Berufsleben vorzubereiten.
Bei einem Kursziel innerhalb der nächsten 5 Jahre von 1000 $ sollten aktuelle Schwankungen zwischen 20 und 40 kein Grund zur Aufregung sein.
Hi Leute also etwas muß dran sein habe schon mehrmals was gelesen über
bilanzfälschungen.Warum reagiert der Vorstand nicht?Da muß doch mal eine gegendarstellung kommen.Bin bei 104 dollar rein vor Splitt auf empfhl.von Fred Hager.So toll scheint die firma ja nicht zu sein.
mfg
Niere
bilanzfälschungen.Warum reagiert der Vorstand nicht?Da muß doch mal eine gegendarstellung kommen.Bin bei 104 dollar rein vor Splitt auf empfhl.von Fred Hager.So toll scheint die firma ja nicht zu sein.
mfg
Niere
deshalb um reich zu werden auch mal die option mit der wkn. 573352 ins depot nehmen.
gibt es heute mit einem discount zu gestern von fast 50%.
ditto
gibt es heute mit einem discount zu gestern von fast 50%.
ditto
vor splitt:
Die Gewinnschätzungen von Zack’s nennen einen Anstieg von 62,69% für das
Steuerjahr 2000, und für 2001 wachsen die Gewinne um geschätzte 111,015.
Unsere treuen Freunde bei MSN berechnen die Schätzungen der Analysten
für den Aktienkurs mit $162,41 zum Jahresende 2000, und $342,70 Ende
2001.
vom mai
ditto
Die Gewinnschätzungen von Zack’s nennen einen Anstieg von 62,69% für das
Steuerjahr 2000, und für 2001 wachsen die Gewinne um geschätzte 111,015.
Unsere treuen Freunde bei MSN berechnen die Schätzungen der Analysten
für den Aktienkurs mit $162,41 zum Jahresende 2000, und $342,70 Ende
2001.
vom mai
ditto
Der Vorstand hat reagiert und sämtliche Vorwürfe energisch bestritten, ...falsch zitiert worden etc..., das übliche. Mehr ist erst mal nicht möglich, da wurden die Jungs von LHSP kalt erwischt.
Wer hier an seriösen Journalismus glaubt, sollte sich fragen, warum das ganze kurz vor den Zahlen rauskam???
Wie gesagt, die Presse liebt L+H nicht, der Kurs geht runter, aber nicht die Firma.
Wir haben hier eine echte Kaufgelegenheit, wobei ich nicht bestreiten will, daß es im Moment charttechnisch keinen Boden gibt.
Mein Tip: Kaufen und nachkaufen (ich seh mir jetzt mal die empfohlenen Calls an!)
Hier das Statement von L+H
http://www2.marketwatch.com/pulse/pulseone.asp?source=blq/yh…
Wer hier an seriösen Journalismus glaubt, sollte sich fragen, warum das ganze kurz vor den Zahlen rauskam???
Wie gesagt, die Presse liebt L+H nicht, der Kurs geht runter, aber nicht die Firma.
Wir haben hier eine echte Kaufgelegenheit, wobei ich nicht bestreiten will, daß es im Moment charttechnisch keinen Boden gibt.
Mein Tip: Kaufen und nachkaufen (ich seh mir jetzt mal die empfohlenen Calls an!)
Hier das Statement von L+H
http://www2.marketwatch.com/pulse/pulseone.asp?source=blq/yh…
Der Vorstand hat reagiert und sämtliche Vorwürfe energisch bestritten, ...falsch zitiert worden etc..., das übliche. Mehr ist erst mal nicht möglich, da wurden die Jungs von LHSP kalt erwischt.
Wer hier an seriösen Journalismus glaubt, sollte sich fragen, warum das ganze kurz vor den Zahlen rauskam???
Wie gesagt, die Presse liebt L+H nicht, der Kurs geht runter, aber nicht die Firma.
Wir haben hier eine echte Kaufgelegenheit, wobei ich nicht bestreiten will, daß es im Moment charttechnisch keinen Boden gibt.
Mein Tip: Kaufen und nachkaufen (ich seh mir jetzt mal die empfohlenen Calls an!)
Hier das Statement von L+H
http://www2.marketwatch.com/pulse/pulseone.asp?source=blq/yh…
Wer hier an seriösen Journalismus glaubt, sollte sich fragen, warum das ganze kurz vor den Zahlen rauskam???
Wie gesagt, die Presse liebt L+H nicht, der Kurs geht runter, aber nicht die Firma.
Wir haben hier eine echte Kaufgelegenheit, wobei ich nicht bestreiten will, daß es im Moment charttechnisch keinen Boden gibt.
Mein Tip: Kaufen und nachkaufen (ich seh mir jetzt mal die empfohlenen Calls an!)
Hier das Statement von L+H
http://www2.marketwatch.com/pulse/pulseone.asp?source=blq/yh…
Schweinerei, dieser Wallstreet Artikel. Sieht nach Ami-Wirtschaftskrieg aus, die ganzen Lernout-Diffamierungen. Art der Recherche, ohne Rückfragen bei der Firma, Zeitpunkt der Veröffentlichung: Riesenskandal!
Ich habe heute bei 30$ nachgekauft.
Ich habe heute bei 30$ nachgekauft.
Ist doch wohl ein Scherz, komm gerade nach Hause - 18,9% Minus - was lese ich? Ein schlecht(?) recherchierter Artikel, solls gewessen sein.
ts ts ts. Hier die Gegendarstellung:
------------------------
Tuesday August 8, 9:18 am Eastern Time
Press Release
Media Alert/L&H Refutes Claims Made by Wall Street Journal That Discrepancies Exist in its Korean Sales Figures
BURLINGTON, Mass. & IEPER, Belgium & SEOUL, Korea--(BUSINESS WIRE)--Aug. 8, 2000--
Lernout & Hauspie, (Nasdaq: LHSP, Easdaq: LHSP) (L&H), a worldwide market leader in speech and language technologies, products and services, stated today that it categorically refutes claims made in the August 8, 2000 Wall Street Journal that discrepancies exist in the company`s sales figures for Korea.
L&H executives firmly believe that statements attributed to L&H Korean customers are misquoted or factually incorrect and that other information appearing in the article, including its customer roster is distorted. For instance, official statements of two customers that have been misquoted are LG Electronics and Hung Chang Corporation.
LG Electronics and L&H entered into a licensing agreement at the end of 1999. The agreement calls for the integration of L&H`s TTS 2500 text-to-speech technology into television sets to be used for language learning. ``We selected L&H as the technology provider for the text-to-speech as they have the best technology in the field,`` said Mr. Won-Mook Yu, senior researcher of LGE. ``We are closely working together to implement L&H technology into our TV sets.``
In January 2000, another important Korean customer, Hung Chang Corporation, licensed technologies and solutions from L&H including its ASR 1500 automatic speech recognition engine, its SV 208 speaker verification system, and its award winning L&H(TM) RealSpeak(TM) text-to-speech technology in Korean and other languages. ``We are developing speech activated door lock devices and speech enabled reservation systems for transportation such as trains and airplanes,`` said Mr. Chung-Soo Sohn, Chairman of Hung Chang Corporation, ``We chose L&H for the breadth and depth of its technologies and the fact that it is able to supply the best multilingual speech solutions.``
``L&H has recently had tremendous success in the Korean market based on its unique ability to bring advanced speech and language solutions to the fast growing telephony and enterprise market there,`` said Gaston Bastiaens, president and CEO of L&H. ``We have attained these results through strategic alliances and the development of unique, industry leading solutions. We are quite pleased with our results in Korea and intend to implement the business structure we have developed there throughout our operations worldwide.``
``The speech and language market in Korea is very robust especially in the enterprise and telephony market.`` said John Seo, CEO of L&H Korea and responsible for Enterprise and Telephony activities worldwide. ``Since Bumil became L&H Korea in the summer of 1999, we now have more than 150 corporate customers which are supported by a staff of more than 300 employees including approximately 200 engineers, linguists and scientists.``
L&H invites media, industry and financial analysts to visit www.lhsl.com after 5 pm East Coast time today, August 8, and access it Q2 earnings announcement including additional information regarding its successful Korean operations.
---------------------------------------------------------------
und Kommentare:
L&H responds to WSJ report
--9:40 am - By Tomi Kilgore
Lernout & Hauspie (LHSP: news, msgs) said it "categorically refutes" the concerns raised by the Wall Street Journal over its Korean business (see 8:41 item). L&H believes that statements in the Journal report from L&H`s Korean customers are "misquoted or factually incorrect" and the company`s customer roster is "distorted." SG Cowen also commented, saying it has visited L&H`s Korean facility and believes it is "a solid operation." Nevertheless, the stock is now trading down 9 1/4, or 25 percent, at 27 3/4.
--------
Yours digitally
KiKo
ts ts ts. Hier die Gegendarstellung:
------------------------
Tuesday August 8, 9:18 am Eastern Time
Press Release
Media Alert/L&H Refutes Claims Made by Wall Street Journal That Discrepancies Exist in its Korean Sales Figures
BURLINGTON, Mass. & IEPER, Belgium & SEOUL, Korea--(BUSINESS WIRE)--Aug. 8, 2000--
Lernout & Hauspie, (Nasdaq: LHSP, Easdaq: LHSP) (L&H), a worldwide market leader in speech and language technologies, products and services, stated today that it categorically refutes claims made in the August 8, 2000 Wall Street Journal that discrepancies exist in the company`s sales figures for Korea.
L&H executives firmly believe that statements attributed to L&H Korean customers are misquoted or factually incorrect and that other information appearing in the article, including its customer roster is distorted. For instance, official statements of two customers that have been misquoted are LG Electronics and Hung Chang Corporation.
LG Electronics and L&H entered into a licensing agreement at the end of 1999. The agreement calls for the integration of L&H`s TTS 2500 text-to-speech technology into television sets to be used for language learning. ``We selected L&H as the technology provider for the text-to-speech as they have the best technology in the field,`` said Mr. Won-Mook Yu, senior researcher of LGE. ``We are closely working together to implement L&H technology into our TV sets.``
In January 2000, another important Korean customer, Hung Chang Corporation, licensed technologies and solutions from L&H including its ASR 1500 automatic speech recognition engine, its SV 208 speaker verification system, and its award winning L&H(TM) RealSpeak(TM) text-to-speech technology in Korean and other languages. ``We are developing speech activated door lock devices and speech enabled reservation systems for transportation such as trains and airplanes,`` said Mr. Chung-Soo Sohn, Chairman of Hung Chang Corporation, ``We chose L&H for the breadth and depth of its technologies and the fact that it is able to supply the best multilingual speech solutions.``
``L&H has recently had tremendous success in the Korean market based on its unique ability to bring advanced speech and language solutions to the fast growing telephony and enterprise market there,`` said Gaston Bastiaens, president and CEO of L&H. ``We have attained these results through strategic alliances and the development of unique, industry leading solutions. We are quite pleased with our results in Korea and intend to implement the business structure we have developed there throughout our operations worldwide.``
``The speech and language market in Korea is very robust especially in the enterprise and telephony market.`` said John Seo, CEO of L&H Korea and responsible for Enterprise and Telephony activities worldwide. ``Since Bumil became L&H Korea in the summer of 1999, we now have more than 150 corporate customers which are supported by a staff of more than 300 employees including approximately 200 engineers, linguists and scientists.``
L&H invites media, industry and financial analysts to visit www.lhsl.com after 5 pm East Coast time today, August 8, and access it Q2 earnings announcement including additional information regarding its successful Korean operations.
---------------------------------------------------------------
und Kommentare:
L&H responds to WSJ report
--9:40 am - By Tomi Kilgore
Lernout & Hauspie (LHSP: news, msgs) said it "categorically refutes" the concerns raised by the Wall Street Journal over its Korean business (see 8:41 item). L&H believes that statements in the Journal report from L&H`s Korean customers are "misquoted or factually incorrect" and the company`s customer roster is "distorted." SG Cowen also commented, saying it has visited L&H`s Korean facility and believes it is "a solid operation." Nevertheless, the stock is now trading down 9 1/4, or 25 percent, at 27 3/4.
--------
Yours digitally
KiKo
Und ein neues UPDATE (2 Minuten alt):
-------------------------
UPDATE1-Lernout & Hauspie denies Korean sales discrepancies
(UPDATE: Adds analyst comment, background, changes dateline)
BRUSSELS Aug 8 (Reuters) - Lernout & Hauspie (NasdaqNM:LHSP - news) disputed on Tuesday a Wall Street Journal report that discrepancies exist in the Belgian speech technology company`s sales figures for Korea.
L&H shares were doen $7 to $30 on Nasdaq at 1546 GMT on volume of more than one million shares, making it the sixth most active Nasdaq share.
On the pan-European Easdaq exchange in Brussels the share had closed down $6.6250 at $30.25.
L&H was due to report second quarter results after Nasdaq`s close on Tuesday.
``L&H executives firmly believe that statements attributed to L&H Korean customers are misquoted or factually incorrect and that other information appearing in the article, including its customer roster, is distorted,`` the company said in a statement.
A Journal spokesman said he was not immediately able to comment on the company statement. The newspaper`s ``Heard on the Street`` column said that ``some companies that L&H has identified as Korean customers say they do no business at all with L&H.``
L&H said two customers, LG Electronics and Hung Chang Corp, were misquoted.
Lernout & Hauspie last month reported that revenues from South Korea soared to $62.3 million in the 2000 first quarter from $245,000 a year earlier.
The company, which also reported skyrocketing sales in Singapore, in filings with the U.S. Securities and Exchange Commission had warned its ability to maintain that pace of growth in the region could be hampered by economic conditions or political instability.
The SEC filings, required under regulations applying to domestic companies following U.S. acquisitions by L&H, were the first time that Lernout provided geographic breakdowns of its revenues.
Analysts have repeatedly criticised L&H for not providing sufficient information about its operations and results.
``For a nice share price evolution it doesn`t just need good figures, but also good communications with analysts, journalists and investors,`` one Brussels-based analyst said.
--------
Yours digitally
KiKo
-------------------------
UPDATE1-Lernout & Hauspie denies Korean sales discrepancies
(UPDATE: Adds analyst comment, background, changes dateline)
BRUSSELS Aug 8 (Reuters) - Lernout & Hauspie (NasdaqNM:LHSP - news) disputed on Tuesday a Wall Street Journal report that discrepancies exist in the Belgian speech technology company`s sales figures for Korea.
L&H shares were doen $7 to $30 on Nasdaq at 1546 GMT on volume of more than one million shares, making it the sixth most active Nasdaq share.
On the pan-European Easdaq exchange in Brussels the share had closed down $6.6250 at $30.25.
L&H was due to report second quarter results after Nasdaq`s close on Tuesday.
``L&H executives firmly believe that statements attributed to L&H Korean customers are misquoted or factually incorrect and that other information appearing in the article, including its customer roster, is distorted,`` the company said in a statement.
A Journal spokesman said he was not immediately able to comment on the company statement. The newspaper`s ``Heard on the Street`` column said that ``some companies that L&H has identified as Korean customers say they do no business at all with L&H.``
L&H said two customers, LG Electronics and Hung Chang Corp, were misquoted.
Lernout & Hauspie last month reported that revenues from South Korea soared to $62.3 million in the 2000 first quarter from $245,000 a year earlier.
The company, which also reported skyrocketing sales in Singapore, in filings with the U.S. Securities and Exchange Commission had warned its ability to maintain that pace of growth in the region could be hampered by economic conditions or political instability.
The SEC filings, required under regulations applying to domestic companies following U.S. acquisitions by L&H, were the first time that Lernout provided geographic breakdowns of its revenues.
Analysts have repeatedly criticised L&H for not providing sufficient information about its operations and results.
``For a nice share price evolution it doesn`t just need good figures, but also good communications with analysts, journalists and investors,`` one Brussels-based analyst said.
--------
Yours digitally
KiKo
Kann einer sage was er will irgend etwas ist faul mit dieser firma .Soviel mißverständnisse kann es nicht geben.
mfg
niere
mfg
niere
Findet jemand den Original-Artikel?
Yours digitally
KiKo
Yours digitally
KiKo
@KiKo
im Ranging Bull Board gibt einer www.wsj.com an.
Hab den Artikel aber nicht gefunden.
Ich nehme an Du hast es selber schon versucht.
Grüße
DiWa
im Ranging Bull Board gibt einer www.wsj.com an.
Hab den Artikel aber nicht gefunden.
Ich nehme an Du hast es selber schon versucht.
Grüße
DiWa
ich hab den Artikel über Raging-bull-board gelesen, so ca. 16h. Ich werd ihn nicht hieher kopieren bevor L&H um 23h die Zahlen bekanntgibt...man soll BS nicht zu oft kopieren...
@diwa: right
@nurkeinstress: right, <-- tihsllub
Yours digitally
KiKo
@nurkeinstress: right, <-- tihsllub
Yours digitally
KiKo
what does it mean:<-- tihsllub ???
Lernout & Hauspie Reports Record Revenues of Approximately $155 Million
for Q2, 2000 and Earnings of $0.05 Before Goodwill Amortization and
Exceptional Items
IEPER, Belgium and BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 8, 2000--Lernout
& Hauspie (Nasdaq: LHSP, Easdaq: LHSP) (L&H), a worldwide market leader in speech and
language technologies, products and services, today announced financial results for the second
quarter ended June 30, 2000.
L&H`s total revenues were approximately $155 million, an increase of 104% over reported
revenues of $76 million for the second quarter of 1999. Thirty-one million dollars of the
company`s second quarter 2000 revenues came from Dictaphone and Dragon. Excluding
Dictaphone and Dragon, L&H`s second quarter revenues were $124 million, a 63% increase
from revenues of $76 million in the second quarter of 1999. The company attributes 72% of
this increase to organic growth.
Net income before goodwill and exceptional items for the second quarter of 2000 were $7.1
million, or $0.05 per share on approximately 140 million average diluted shares outstanding as
compared to $7.6 million, or $0.15 per share during the second quarter of 1999 on
approximately 119 million average diluted shares outstanding.
Goodwill amortization and exceptional items for the second quarter of 2000 were $44.5
million, $35.5 million of which was attributable to goodwill amortization, $8.6 million to in
process R&D write-off associated with the acquisition of Dragon Systems and the remainder
attributable to unrealized functional currency exchange losses. During the second quarter of
1999, goodwill amortization and exceptional items were $7.7 million, $7.2 million of which was
ascribed to goodwill amortization and the balance was attributable primarily to unrealized
functional currency exchange losses.
L&H`s second quarter 2000 financial results reflected the acquisitions of both Dragon Systems
and Dictaphone Corporation, which initially have an overall negative effect on L&H`s net
income. Dragon`s and Dictaphone`s revenues were adversely impacted in the second quarter by
their adoption of L&H`s more conservative revenue recognition policies. Furthermore, Dragon
and Dictaphone revenues are reflected for only the post-acquisition portion of the quarter. Net
income was also impacted by $xx million of interest expense associated with the assumption of
approximately $430 million of obligations in connection with the Dictaphone acquisition.
Revenue for the second quarter 2000 consisted of:
Technology and Solutions Division - approximately $78.9 million,
-- $11.2 million from Dictaphone`s CRS business;
Applications Division - approximately $50.4 million,
-- $11.2 million from Dictaphone`s Healthcare unit,
-- $7.9 million from Dictaphone`s Integrated Voice Solutions unit,
-- $1.7 million from Dragon Systems;
Globalization and Internet Translation Division - approximately $25.5 million
-- $7.4 million, or 29% of which was Internet-related revenue.
Geographical Analysis of Revenues in the Second Quarter
-- European revenues were approximately $36.4 million or 23% of
total revenues compared to $29.3 million or 39% in the second quarter
of 1999.
-- Revenues for North America were approximately $48.2 million or
31% of total revenues compared to $18.7 million or 25% of total
revenues for the second quarter 1999. The increase in U.S. revenue is
largly attributable the Dictaphone and Dragon acquisitions.
-- Korea contributed approximately $68 million or 44% of total
company revenues.
Currently, L&H has over 150 corporate customers in Korea including Art Lab, Digital Life,
Digital Sei Young Ltd, EPC, Hanvit Bank, Hanvit Securities, Hung Chang, Hyundi Securities,
Koscom, LG Electronics, Samsung Electronics, and Terrasoft. Its second quarter 2000
revenues continued to be strong in Korea.
The increase in U.S. revenue is largely attributable to the Dictaphone and Dragon acquisitions.
"The combination of Dragon and Dictaphone with L&H and the retention of the talented
executive management from both companies provide us with an organization and resources that
are unquestionably the strongest and finest in this industry," said Gaston Bastiaens, president
and CEO of L&H. "We are very excited to apply these resources to tackle the ever growing
opportunities in healthcare, enterprise and telephony, applications, globalization and the
Internet. There has never been a more exciting or promising period in the speech and language
technology industry."
"The second quarter of 2000 was filled with successes that we believe we can replicate in other
areas of our business," said Jo Lernout, co-founder and chairman of L&H. "During the second
quarter we continued to move toward a solutions oriented approach, as evidenced by the
introduction of our healthcare solutions, our consumer applications and our NAK prototype
solution. We also had numerous solutions sales in Asia. We believe these achievements can
serve as a model for additional growth in the U.S. and Europe."
Highlights of the Quarter
During the second quarter, L&H stockholders approved the company`s proposed two-for-one
stock split. The record date for the stock split was April 28, 2000 and the distribution date was
May 12, 2000.
Technologies & Solutions
During the second quarter of 2000, L&H`s Technologies and Solutions Division experienced
significant successes in the telephony and enterprise markets, including the burgeoning voice for
Web market and in the Asian market overall. In the fast-growth voice for web and Web portal
industry Earth9.com, Tellme Networks, Inc., InternetSpeech, and Webversant were among the
vendors that licensed L&H(TM) RealSpeak(TM) natural sounding text-to-speech (TTS)
technologies for use in their services. L&H`s RealSpeak was also selected during Q2 for use in
the world`s first virtual newscaster, "Ananova", a service that plans to broadcast on demand
personalized news and information via the Internet.
While at PC Expo in June, L&H demonstrated for the first time L&H(TM) AudioMining(TM)
technology. L&H(TM) AudioMining(TM) is a revolutionary new digital media management
solution that employs a speech recognition engine to provide indexing of streaming multimedia
content over the Internet. It uses an award-winning speech recognition engine to quickly
capture and manage information contained in a wide variety of audio materials including:
recorded video footage, radio broadcasts, telephone conversations, call center dialogues, help
desk recordings, and more.
In the automotive market, L&H and Visteon Corporation, a leading automotive supplier,
announced their intent to create a joint venture dedicated to advancing and accelerating the
speech interface in automotive applications. This joint venture is expected to include automotive
Internet speech portal services and solutions. It will also develop voice-enabled solutions for
automobile equipment manufacturers and the aftermarket.
Additional second quarter Technology and Solutions Division contracts included those with
Cisco, Ericsson, iBasis, Lucent, MailVision, Mastermind, Price Interactive, VoiceLogix and
VoiceTel.
Applications Division
Healthcare Solutions Group Announces New Offerings
While at the HIMSS trade show in April, L&H demonstrated for the first time L&H(TM)
iChart Service, a healthcare clinical documentation system that integrates large vocabulary
speech recognition over the telephone, advanced digital dictation, natural language technology
and transcription capabilities, all conveniently delivered via the Internet using an application
service provider (ASP) model. The L&H(TM) iChart Service is expected to be an outsourced
solution for a wide variety of healthcare organizations and builds on L&H`s existing complement
of product offerings.
Healthcare Contracts
During the second quarter, the following healthcare organizations signed contracts with L&H`s
Healthcare Solutions Group for its PowerScribe(R)Radiology solution: Wyoming Valley Health
Systems, Wiles-Barr, Wy.; St. Luke`s Hospital, Bethlehem, Penn.; and Boca Raton, Florida.
Contracts for L&H Dictaphone Enterprise Express Systems during the 2nd Quarter included
Dana Farber Cancer Institute (Partners Healthcare Systems), Boston, Mass.; Indiana Heart
Physicians/Physicians Partner Group, Indianaplis, Ind.; University of Texas, M.D. Anderson
Cancer Center, Houston, Texas; and St. Margaret Mercy Healthcare Centers, Hammond, Ind.
and others. Community Hospital, Boca Raton, Fla.. Dana Farber Cancer Institute (Partners
Healthcare System), Boston, Mass.; Indiana Heart Physicians/Physicians Partner Group,
Indianapolis, Ind.; University of Texas, M.D. Anderson Cancer Center, Houston, Texas; and
St. Margaret Mercy Healthcare Centers, Hammond, Ind. and others.
PC Applications Group Expands Enterprise Offerings
While at PC Expo in June L&H demonstrated for the first time the Enterprise Version of
L&H(TM) Dragon Naturally Speaking(R). The new offering is a true networked solution for
the enterprise market that allows the transfer of speech files from the network to laptop PCs
and gives users access to their speech files from any PC on the network. Thesolution, which
provides support for hundreds of users, also allows users to dictate from any properly
configured PC on the network.
During the second quarter of 2000 L&H`s PC Applications Group also shipped L&H Voice
Xpress version 5, which includes significantly improved accuracy and usability as well as
enhanced support for Web-based applications such as e-mail, Internet browsing and chat.
Q2 00 Page 4
Globalization & Internet Translation
L&H`s Globalization & Internet Translation Division signed several agreements during the
second quarter, including one with Worldmine, one of the world`s fastest growing travel Web
sites. The agreement calls for L&H to provide translation and localization services for the
Singapore-based company`s on-line travel Web site content. The project is a large and
complex agreement calling for extensive human translation, machine translation and linguistic
expertise. L&H will initially translate and localize Worldmine`s Web pages into Japanese and
German followed by Asian languages such as Mandarin and Korean and then European
languages.
Additional contracts signed during the second quarter included Webbe, Inc. -- in which L&H`s
iTranslator machine translation engine will provide instant foreign language translation in the chat
module of Webbe -as well as Loral Cyberstar and British Telecom.
New organization
During the second quarter of 2000, L&H finalized its acquisition of Dragon Systems,
significantly increasing the company`s consumer market speech and language offerings and
giving it the assets to further accelerate its development efforts in telephony and healthcare and
to pursue emerging market opportunities. It integrated the Dragon and Dictaphone organization
into its own, retaining the key management of both acquired companies, and creating a new
company structure leveraging the strengths of each organization.
L&H`s new company structure creates divisions that are even more focused on customer and
market specific solutions. These new divisions, which also reflect important growth areas for
L&H, are as follows: -- The Healthcare Solutions Division includes offerings from Dictaphone`s
former Integrated Healthcare Solutions (IHS) group as well as the many solutions and services
for the healthcare market from Dragon and L&H. John Duerden, who was previously
Chairman and CEO of Dictaphone, will serve as president and CEO of the Healthcare
Solutions Division. -- The Enterprise and Telephony Solutions Division will include L&H
technologies and solutions for enterprise and telephony markets, as well as Dictaphone
Communications Recording Services (CRS) offerings. John Seo will serve as president of this
new division. -- L&H`s Globalization and Internet Translation Division will remain largely
unchanged, with responsibilities for translation and globalization of Web content and services.
Florita Mendez serves as president of the division. -- The Application Division is comprised of
end user vertical and horizontal market applications, including those from Dragon Systems as
well as some Dictaphone products. John Shagoury, formerly president of Dragon, will serve as
president of the division.
About Lernout & Hauspie
Lernout & Hauspie (L&H) is a global leader in advanced speech and language solutions for
vertical markets, computers, automobiles, telecommunications, embedded products, consumer
goods and the Internet. The company is making the speech user interface (SUI) the keystone of
simple, convenient interaction between humans and technology, and is using advanced
translation technology to break down language barriers. The company provides a wide range of
offerings, including: customized solutions for corporations; core speech technologies marketed
to OEMs; end user and retail applications for continuous speech products in horizontal and
vertical markets; and document creation, human and machine translation services, Internet
translation offerings, and linguistic tools. L&H`s products and services originate in four basic
areas: automatic speech recognition (ASR), text-to-speech (TTS), digital speech and music
compression (SMC) and text-to-text (translation). For more information, please visit Lernout &
Hauspie on the World Wide Web at www.lhs.com or www.lhsl.com.
This News Release contains forward-looking information that involves risks and uncertainties,
including statements about the company`s plans, objectives, expectations and intentions. Such
statements include, without limitation, discussions concerning the company`s strategic direction,
new product introductions and developments and market growth. Readers are cautioned
forward looking statements include known and unknown risks, including uncertainty of new
product development, the risk that newly introduced products may contain undetected errors or
defects or otherwise not perform as anticipated, early stage of development of the speech,
language and medical information technology markets, the ability of L&H`s customers to
successfully integrate and commercialize L&H`s technology, the company`s ability to predict
accurately the demand for its products in these emerging markets and to develop strategies to
address these markets successfully, the company`s ability to manage its growth and changing
business, the company`s ability to successfully integrate the operations of Dictaphone, the
retention of key technical and other personnel, risks associated with the financial leverage
associated with the company`s assumption and/or repayment of Dictaphone indebtedness,
currency and other risks related to international operations, rapid technological change and
intense competition, as well as other risks set forth in L&H`s filings with the Securities and
Exchange Commission. The forward-looking statements contained herein speak only as of the
date of this News Release. The company expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any such statement to reflect any change in the
company`s expectations or any change in events, conditions or circumstance on which any such
statement is based.
All product names and trademarks mentioned herein are trademarks of L&H or their respective
owners.
Lernout & Hauspie
Balance Sheet & Cash Flow Highlights, June 30, 2000
-- Cash and Marketable Securities increased to approximately $200
million from $179 million at the end of the previous quarter.
-- Accounts Receivable increased to $238 million from $129 million
at the end of the second quarter. The increase was due primarily to
the inclusion of Dictaphone and Dragon.
-- Short-term debt was $252 million primarily as a result of the
assumption of the debt associated with the acquisition of Dictaphone.
-- Net working capital was approximately $48 million, down
primarily as a result of the assumption of the short-term debt
associated with the acquisition of Dictaphone.
-- Net goodwill was approximately $1,701 million, an increase of
approximately $1,283 versus the first quarter as a result of the
acquisition of Dictaphone and Dragon.
-- Long-term debt was approximately $234 million as a result of
the assumption of $200 million of Dictaphone senior subordinated
notes.
-- Shareholders` equity was $1,531 million
-- Operating cash flow for the quarter was approximately $12
million and $32 million year-to-date.
-- Net cash used from investing activities was approximately $71
million and $145 million year-to-date
-- Net cash provided by investing activities was approximately $83
million and $191 million year-to-date
LERNOUT & HAUSPIE SPEECH PRODUCTS N.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
($ in thousands)
(Unaudited) (Unaudited)
Three Three Six Six
Months Months Months Months
Ended Ended Ended Ended
June 30, June 30, June 30, June 30,
2000 1999 2000 1999
Total Revenues
Technologies & Solutions $78,904 $26,485 $137,790 $51,211
Applications $50,440 $28,984 $78,433 $51,552
Consulting & Services $25,562 $20,546 $49,378 $43,960
Total Net Revenues $154,906 $76,015 $265,601 $146,723
Cost of Revenues
Technologies & Solutions $14,584 $2,554 $20,114 $5,342
Applications $17,700 $4,680 $24,324 $8,541
Consulting & Services $15,447 $12,064 $29,141 $26,154
Total Cost of Revenues $47,731 $19,298 $73,579 $40,037
Gross Profit $107,175 $56,717 $192,022 $106,686
Operating Expenses
General & Administrative $18,445 $8,210 $29,049 $17,248
Marketing & Sales $36,765 $14,923 $56,876 $27,933
Research & Development $23,811 $10,810 $40,090 $20,615
Amortization of Goodwill and
Other Business Acquisition
Intangibles $35,490 $7,244 $46,620 $14,419
Write-off of In-Process R&D 8,600 -- 8,600 --
Total Operating Expenses $123,111 $41,187 $181,235 $80,215
Operating Income (Loss) ($15,936) $15,530 $10,787 $26,471
Other (Income) / Expense
Share in Loss
Unconsolidated Affiliates $2,409 $366 $5,465 $830
Other (Income)/ Expense $3,405 ($2,207) ($2,509) ($9,167)
Net Income (Loss) before
Taxes and Minority Interest ($21,750) $17,371 $7,831 $34,808
Taxes $11,305 $6,654 $23,428 $11,880
Net Income (Loss)
before Minority Interest ($33,055) $10,717 ($15,597) $22,928
Minority Interest $612 $1,131 $1,622 $2,277
Net Income (Loss) ($33,667) $9,586 ($17,219) $20,651
EPS Calculation
Net Income (Loss)
Attributable
to Common Stockholders ($33,667) $9,586 ($17,219) $20,651
Net Income (Loss )
per Share - Basic ($0.26) ($0.14)
Average numer of
Shares - Basic 131,355 124,969
Net Income (Loss)
per Share - Diluted $0.08 $0.18
Average Number of
Shares - Diluted 118,695 117,531
EPS Calculation before
one time charges
and after exchange gain
Net Income (Loss) before
one time charges and after
exchange gain/loss $7,142 $17,069 $30,480 $30,549
Number of Shares - Diluted 139,694 118,695 133,309 117,531
EPS before one-time
charges - Diluted $0.05 $0.14 $0.23 $0.26
for Q2, 2000 and Earnings of $0.05 Before Goodwill Amortization and
Exceptional Items
IEPER, Belgium and BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 8, 2000--Lernout
& Hauspie (Nasdaq: LHSP, Easdaq: LHSP) (L&H), a worldwide market leader in speech and
language technologies, products and services, today announced financial results for the second
quarter ended June 30, 2000.
L&H`s total revenues were approximately $155 million, an increase of 104% over reported
revenues of $76 million for the second quarter of 1999. Thirty-one million dollars of the
company`s second quarter 2000 revenues came from Dictaphone and Dragon. Excluding
Dictaphone and Dragon, L&H`s second quarter revenues were $124 million, a 63% increase
from revenues of $76 million in the second quarter of 1999. The company attributes 72% of
this increase to organic growth.
Net income before goodwill and exceptional items for the second quarter of 2000 were $7.1
million, or $0.05 per share on approximately 140 million average diluted shares outstanding as
compared to $7.6 million, or $0.15 per share during the second quarter of 1999 on
approximately 119 million average diluted shares outstanding.
Goodwill amortization and exceptional items for the second quarter of 2000 were $44.5
million, $35.5 million of which was attributable to goodwill amortization, $8.6 million to in
process R&D write-off associated with the acquisition of Dragon Systems and the remainder
attributable to unrealized functional currency exchange losses. During the second quarter of
1999, goodwill amortization and exceptional items were $7.7 million, $7.2 million of which was
ascribed to goodwill amortization and the balance was attributable primarily to unrealized
functional currency exchange losses.
L&H`s second quarter 2000 financial results reflected the acquisitions of both Dragon Systems
and Dictaphone Corporation, which initially have an overall negative effect on L&H`s net
income. Dragon`s and Dictaphone`s revenues were adversely impacted in the second quarter by
their adoption of L&H`s more conservative revenue recognition policies. Furthermore, Dragon
and Dictaphone revenues are reflected for only the post-acquisition portion of the quarter. Net
income was also impacted by $xx million of interest expense associated with the assumption of
approximately $430 million of obligations in connection with the Dictaphone acquisition.
Revenue for the second quarter 2000 consisted of:
Technology and Solutions Division - approximately $78.9 million,
-- $11.2 million from Dictaphone`s CRS business;
Applications Division - approximately $50.4 million,
-- $11.2 million from Dictaphone`s Healthcare unit,
-- $7.9 million from Dictaphone`s Integrated Voice Solutions unit,
-- $1.7 million from Dragon Systems;
Globalization and Internet Translation Division - approximately $25.5 million
-- $7.4 million, or 29% of which was Internet-related revenue.
Geographical Analysis of Revenues in the Second Quarter
-- European revenues were approximately $36.4 million or 23% of
total revenues compared to $29.3 million or 39% in the second quarter
of 1999.
-- Revenues for North America were approximately $48.2 million or
31% of total revenues compared to $18.7 million or 25% of total
revenues for the second quarter 1999. The increase in U.S. revenue is
largly attributable the Dictaphone and Dragon acquisitions.
-- Korea contributed approximately $68 million or 44% of total
company revenues.
Currently, L&H has over 150 corporate customers in Korea including Art Lab, Digital Life,
Digital Sei Young Ltd, EPC, Hanvit Bank, Hanvit Securities, Hung Chang, Hyundi Securities,
Koscom, LG Electronics, Samsung Electronics, and Terrasoft. Its second quarter 2000
revenues continued to be strong in Korea.
The increase in U.S. revenue is largely attributable to the Dictaphone and Dragon acquisitions.
"The combination of Dragon and Dictaphone with L&H and the retention of the talented
executive management from both companies provide us with an organization and resources that
are unquestionably the strongest and finest in this industry," said Gaston Bastiaens, president
and CEO of L&H. "We are very excited to apply these resources to tackle the ever growing
opportunities in healthcare, enterprise and telephony, applications, globalization and the
Internet. There has never been a more exciting or promising period in the speech and language
technology industry."
"The second quarter of 2000 was filled with successes that we believe we can replicate in other
areas of our business," said Jo Lernout, co-founder and chairman of L&H. "During the second
quarter we continued to move toward a solutions oriented approach, as evidenced by the
introduction of our healthcare solutions, our consumer applications and our NAK prototype
solution. We also had numerous solutions sales in Asia. We believe these achievements can
serve as a model for additional growth in the U.S. and Europe."
Highlights of the Quarter
During the second quarter, L&H stockholders approved the company`s proposed two-for-one
stock split. The record date for the stock split was April 28, 2000 and the distribution date was
May 12, 2000.
Technologies & Solutions
During the second quarter of 2000, L&H`s Technologies and Solutions Division experienced
significant successes in the telephony and enterprise markets, including the burgeoning voice for
Web market and in the Asian market overall. In the fast-growth voice for web and Web portal
industry Earth9.com, Tellme Networks, Inc., InternetSpeech, and Webversant were among the
vendors that licensed L&H(TM) RealSpeak(TM) natural sounding text-to-speech (TTS)
technologies for use in their services. L&H`s RealSpeak was also selected during Q2 for use in
the world`s first virtual newscaster, "Ananova", a service that plans to broadcast on demand
personalized news and information via the Internet.
While at PC Expo in June, L&H demonstrated for the first time L&H(TM) AudioMining(TM)
technology. L&H(TM) AudioMining(TM) is a revolutionary new digital media management
solution that employs a speech recognition engine to provide indexing of streaming multimedia
content over the Internet. It uses an award-winning speech recognition engine to quickly
capture and manage information contained in a wide variety of audio materials including:
recorded video footage, radio broadcasts, telephone conversations, call center dialogues, help
desk recordings, and more.
In the automotive market, L&H and Visteon Corporation, a leading automotive supplier,
announced their intent to create a joint venture dedicated to advancing and accelerating the
speech interface in automotive applications. This joint venture is expected to include automotive
Internet speech portal services and solutions. It will also develop voice-enabled solutions for
automobile equipment manufacturers and the aftermarket.
Additional second quarter Technology and Solutions Division contracts included those with
Cisco, Ericsson, iBasis, Lucent, MailVision, Mastermind, Price Interactive, VoiceLogix and
VoiceTel.
Applications Division
Healthcare Solutions Group Announces New Offerings
While at the HIMSS trade show in April, L&H demonstrated for the first time L&H(TM)
iChart Service, a healthcare clinical documentation system that integrates large vocabulary
speech recognition over the telephone, advanced digital dictation, natural language technology
and transcription capabilities, all conveniently delivered via the Internet using an application
service provider (ASP) model. The L&H(TM) iChart Service is expected to be an outsourced
solution for a wide variety of healthcare organizations and builds on L&H`s existing complement
of product offerings.
Healthcare Contracts
During the second quarter, the following healthcare organizations signed contracts with L&H`s
Healthcare Solutions Group for its PowerScribe(R)Radiology solution: Wyoming Valley Health
Systems, Wiles-Barr, Wy.; St. Luke`s Hospital, Bethlehem, Penn.; and Boca Raton, Florida.
Contracts for L&H Dictaphone Enterprise Express Systems during the 2nd Quarter included
Dana Farber Cancer Institute (Partners Healthcare Systems), Boston, Mass.; Indiana Heart
Physicians/Physicians Partner Group, Indianaplis, Ind.; University of Texas, M.D. Anderson
Cancer Center, Houston, Texas; and St. Margaret Mercy Healthcare Centers, Hammond, Ind.
and others. Community Hospital, Boca Raton, Fla.. Dana Farber Cancer Institute (Partners
Healthcare System), Boston, Mass.; Indiana Heart Physicians/Physicians Partner Group,
Indianapolis, Ind.; University of Texas, M.D. Anderson Cancer Center, Houston, Texas; and
St. Margaret Mercy Healthcare Centers, Hammond, Ind. and others.
PC Applications Group Expands Enterprise Offerings
While at PC Expo in June L&H demonstrated for the first time the Enterprise Version of
L&H(TM) Dragon Naturally Speaking(R). The new offering is a true networked solution for
the enterprise market that allows the transfer of speech files from the network to laptop PCs
and gives users access to their speech files from any PC on the network. Thesolution, which
provides support for hundreds of users, also allows users to dictate from any properly
configured PC on the network.
During the second quarter of 2000 L&H`s PC Applications Group also shipped L&H Voice
Xpress version 5, which includes significantly improved accuracy and usability as well as
enhanced support for Web-based applications such as e-mail, Internet browsing and chat.
Q2 00 Page 4
Globalization & Internet Translation
L&H`s Globalization & Internet Translation Division signed several agreements during the
second quarter, including one with Worldmine, one of the world`s fastest growing travel Web
sites. The agreement calls for L&H to provide translation and localization services for the
Singapore-based company`s on-line travel Web site content. The project is a large and
complex agreement calling for extensive human translation, machine translation and linguistic
expertise. L&H will initially translate and localize Worldmine`s Web pages into Japanese and
German followed by Asian languages such as Mandarin and Korean and then European
languages.
Additional contracts signed during the second quarter included Webbe, Inc. -- in which L&H`s
iTranslator machine translation engine will provide instant foreign language translation in the chat
module of Webbe -as well as Loral Cyberstar and British Telecom.
New organization
During the second quarter of 2000, L&H finalized its acquisition of Dragon Systems,
significantly increasing the company`s consumer market speech and language offerings and
giving it the assets to further accelerate its development efforts in telephony and healthcare and
to pursue emerging market opportunities. It integrated the Dragon and Dictaphone organization
into its own, retaining the key management of both acquired companies, and creating a new
company structure leveraging the strengths of each organization.
L&H`s new company structure creates divisions that are even more focused on customer and
market specific solutions. These new divisions, which also reflect important growth areas for
L&H, are as follows: -- The Healthcare Solutions Division includes offerings from Dictaphone`s
former Integrated Healthcare Solutions (IHS) group as well as the many solutions and services
for the healthcare market from Dragon and L&H. John Duerden, who was previously
Chairman and CEO of Dictaphone, will serve as president and CEO of the Healthcare
Solutions Division. -- The Enterprise and Telephony Solutions Division will include L&H
technologies and solutions for enterprise and telephony markets, as well as Dictaphone
Communications Recording Services (CRS) offerings. John Seo will serve as president of this
new division. -- L&H`s Globalization and Internet Translation Division will remain largely
unchanged, with responsibilities for translation and globalization of Web content and services.
Florita Mendez serves as president of the division. -- The Application Division is comprised of
end user vertical and horizontal market applications, including those from Dragon Systems as
well as some Dictaphone products. John Shagoury, formerly president of Dragon, will serve as
president of the division.
About Lernout & Hauspie
Lernout & Hauspie (L&H) is a global leader in advanced speech and language solutions for
vertical markets, computers, automobiles, telecommunications, embedded products, consumer
goods and the Internet. The company is making the speech user interface (SUI) the keystone of
simple, convenient interaction between humans and technology, and is using advanced
translation technology to break down language barriers. The company provides a wide range of
offerings, including: customized solutions for corporations; core speech technologies marketed
to OEMs; end user and retail applications for continuous speech products in horizontal and
vertical markets; and document creation, human and machine translation services, Internet
translation offerings, and linguistic tools. L&H`s products and services originate in four basic
areas: automatic speech recognition (ASR), text-to-speech (TTS), digital speech and music
compression (SMC) and text-to-text (translation). For more information, please visit Lernout &
Hauspie on the World Wide Web at www.lhs.com or www.lhsl.com.
This News Release contains forward-looking information that involves risks and uncertainties,
including statements about the company`s plans, objectives, expectations and intentions. Such
statements include, without limitation, discussions concerning the company`s strategic direction,
new product introductions and developments and market growth. Readers are cautioned
forward looking statements include known and unknown risks, including uncertainty of new
product development, the risk that newly introduced products may contain undetected errors or
defects or otherwise not perform as anticipated, early stage of development of the speech,
language and medical information technology markets, the ability of L&H`s customers to
successfully integrate and commercialize L&H`s technology, the company`s ability to predict
accurately the demand for its products in these emerging markets and to develop strategies to
address these markets successfully, the company`s ability to manage its growth and changing
business, the company`s ability to successfully integrate the operations of Dictaphone, the
retention of key technical and other personnel, risks associated with the financial leverage
associated with the company`s assumption and/or repayment of Dictaphone indebtedness,
currency and other risks related to international operations, rapid technological change and
intense competition, as well as other risks set forth in L&H`s filings with the Securities and
Exchange Commission. The forward-looking statements contained herein speak only as of the
date of this News Release. The company expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any such statement to reflect any change in the
company`s expectations or any change in events, conditions or circumstance on which any such
statement is based.
All product names and trademarks mentioned herein are trademarks of L&H or their respective
owners.
Lernout & Hauspie
Balance Sheet & Cash Flow Highlights, June 30, 2000
-- Cash and Marketable Securities increased to approximately $200
million from $179 million at the end of the previous quarter.
-- Accounts Receivable increased to $238 million from $129 million
at the end of the second quarter. The increase was due primarily to
the inclusion of Dictaphone and Dragon.
-- Short-term debt was $252 million primarily as a result of the
assumption of the debt associated with the acquisition of Dictaphone.
-- Net working capital was approximately $48 million, down
primarily as a result of the assumption of the short-term debt
associated with the acquisition of Dictaphone.
-- Net goodwill was approximately $1,701 million, an increase of
approximately $1,283 versus the first quarter as a result of the
acquisition of Dictaphone and Dragon.
-- Long-term debt was approximately $234 million as a result of
the assumption of $200 million of Dictaphone senior subordinated
notes.
-- Shareholders` equity was $1,531 million
-- Operating cash flow for the quarter was approximately $12
million and $32 million year-to-date.
-- Net cash used from investing activities was approximately $71
million and $145 million year-to-date
-- Net cash provided by investing activities was approximately $83
million and $191 million year-to-date
LERNOUT & HAUSPIE SPEECH PRODUCTS N.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
($ in thousands)
(Unaudited) (Unaudited)
Three Three Six Six
Months Months Months Months
Ended Ended Ended Ended
June 30, June 30, June 30, June 30,
2000 1999 2000 1999
Total Revenues
Technologies & Solutions $78,904 $26,485 $137,790 $51,211
Applications $50,440 $28,984 $78,433 $51,552
Consulting & Services $25,562 $20,546 $49,378 $43,960
Total Net Revenues $154,906 $76,015 $265,601 $146,723
Cost of Revenues
Technologies & Solutions $14,584 $2,554 $20,114 $5,342
Applications $17,700 $4,680 $24,324 $8,541
Consulting & Services $15,447 $12,064 $29,141 $26,154
Total Cost of Revenues $47,731 $19,298 $73,579 $40,037
Gross Profit $107,175 $56,717 $192,022 $106,686
Operating Expenses
General & Administrative $18,445 $8,210 $29,049 $17,248
Marketing & Sales $36,765 $14,923 $56,876 $27,933
Research & Development $23,811 $10,810 $40,090 $20,615
Amortization of Goodwill and
Other Business Acquisition
Intangibles $35,490 $7,244 $46,620 $14,419
Write-off of In-Process R&D 8,600 -- 8,600 --
Total Operating Expenses $123,111 $41,187 $181,235 $80,215
Operating Income (Loss) ($15,936) $15,530 $10,787 $26,471
Other (Income) / Expense
Share in Loss
Unconsolidated Affiliates $2,409 $366 $5,465 $830
Other (Income)/ Expense $3,405 ($2,207) ($2,509) ($9,167)
Net Income (Loss) before
Taxes and Minority Interest ($21,750) $17,371 $7,831 $34,808
Taxes $11,305 $6,654 $23,428 $11,880
Net Income (Loss)
before Minority Interest ($33,055) $10,717 ($15,597) $22,928
Minority Interest $612 $1,131 $1,622 $2,277
Net Income (Loss) ($33,667) $9,586 ($17,219) $20,651
EPS Calculation
Net Income (Loss)
Attributable
to Common Stockholders ($33,667) $9,586 ($17,219) $20,651
Net Income (Loss )
per Share - Basic ($0.26) ($0.14)
Average numer of
Shares - Basic 131,355 124,969
Net Income (Loss)
per Share - Diluted $0.08 $0.18
Average Number of
Shares - Diluted 118,695 117,531
EPS Calculation before
one time charges
and after exchange gain
Net Income (Loss) before
one time charges and after
exchange gain/loss $7,142 $17,069 $30,480 $30,549
Number of Shares - Diluted 139,694 118,695 133,309 117,531
EPS before one-time
charges - Diluted $0.05 $0.14 $0.23 $0.26
nachbörslich um 22:55
30,50 us$ also besser als zu börsenschluss (29,8125)
30,50 us$ also besser als zu börsenschluss (29,8125)
un nu wieder 29,5625
um 23:18
bei island
um 23:18
bei island
Hallo, -
und plötzlich bin ich auch dabei. Mein Kauflimit war 36E. Wunder gibt es immer wieder - jetzt wird`s richtig spannend. Nachrichten abwarten und eventuell nachkaufen denke ich. Der Umkehrpunkt ist noch nicht erreicht. Ich rieche die Gelegenheit günstig noch ein paar Papierchen aufzulesen.
mfg RG1
und plötzlich bin ich auch dabei. Mein Kauflimit war 36E. Wunder gibt es immer wieder - jetzt wird`s richtig spannend. Nachrichten abwarten und eventuell nachkaufen denke ich. Der Umkehrpunkt ist noch nicht erreicht. Ich rieche die Gelegenheit günstig noch ein paar Papierchen aufzulesen.
mfg RG1
seit ende mai keine insider verkäufe mehr.
zum schluss 2 käufe. da sollte es nicht so schlimm sein mit lernout, wie uns der kurs weismachen will.
http://www.e-trade.com/cgi-bin/gx.cgi/AppLogic+ResearchStock…
ditto
zum schluss 2 käufe. da sollte es nicht so schlimm sein mit lernout, wie uns der kurs weismachen will.
http://www.e-trade.com/cgi-bin/gx.cgi/AppLogic+ResearchStock…
ditto
@nurkeinstress: lies mal rückwärts, war das nicht Dein BS?
@ditto: warst schneller mit Report
Analysten schätzten 0,03
geflüstert wurde 0,04
Earnings sind aber $0.05
Was haben wir nun zu erwarten? Cisco hat ebenfalls Erwartungen übertroffen. Kleine Rally möglich? "Die Marktteilnehmer messen dem Ergebnis von Cisco Systems hohen Stellenwert zu. Mit dem nun über den Erwartungen liegenden Ergebnis dürfte der gesamte Technologiesektor in den kommenden Tagen von hohen Kursschwankungen nach unten verschont bleiben. Die Aktie von Cisco tendiert zumindest nachbörslich fester, aktuell liegt sie mit 2 US-Dollar im Plus."
Yours digitally
KiKo
@ditto: warst schneller mit Report
Analysten schätzten 0,03
geflüstert wurde 0,04
Earnings sind aber $0.05
Was haben wir nun zu erwarten? Cisco hat ebenfalls Erwartungen übertroffen. Kleine Rally möglich? "Die Marktteilnehmer messen dem Ergebnis von Cisco Systems hohen Stellenwert zu. Mit dem nun über den Erwartungen liegenden Ergebnis dürfte der gesamte Technologiesektor in den kommenden Tagen von hohen Kursschwankungen nach unten verschont bleiben. Die Aktie von Cisco tendiert zumindest nachbörslich fester, aktuell liegt sie mit 2 US-Dollar im Plus."
Yours digitally
KiKo
lol OKIK,claro, ist BS rücksärts.... bin ich beruhigt über die Zahlen von L&H! Was wohl morgen drin liegt?
wieso gab der Kurs nachbörslich, trotz guter Zahlen, und dem Dementi von L&H, nochmals nach.
Glaube nicht, daß sich Firmen wie Microsoft, Lucent etc. an einer unseriösen Klitsche beteiligen. Sehe eine ähnliche Entwicklung wie bei Ballard Power.
Kurs steigt, fällt, steigt, fällt, nichts passiert, nur wenn er dann abgeht gibts kein Halten mehr. ( s. Kursentwicklung BP 1999 ) Überlege nochmals nachzulegen.
Bitte um fundierte Argumente
Glaube nicht, daß sich Firmen wie Microsoft, Lucent etc. an einer unseriösen Klitsche beteiligen. Sehe eine ähnliche Entwicklung wie bei Ballard Power.
Kurs steigt, fällt, steigt, fällt, nichts passiert, nur wenn er dann abgeht gibts kein Halten mehr. ( s. Kursentwicklung BP 1999 ) Überlege nochmals nachzulegen.
Bitte um fundierte Argumente
Hi,
ich halt die jetztige Schwächephase ebenfalls für eine Kaufgelegenheit,aber:Vergleich mit NOK:die sind
auch noch weiter gefallen.Tagesvolumen über 1/2 MRD DM,das waren bestimmt keine Kleinanleger...
Ich geh erst rein,wenn sowas wie ein Tiefpunkt da ist,von dem aus sie drehen.
ich halt die jetztige Schwächephase ebenfalls für eine Kaufgelegenheit,aber:Vergleich mit NOK:die sind
auch noch weiter gefallen.Tagesvolumen über 1/2 MRD DM,das waren bestimmt keine Kleinanleger...
Ich geh erst rein,wenn sowas wie ein Tiefpunkt da ist,von dem aus sie drehen.
@jens11, denke mal man kann L&H nicht mit Nokia vergleichen.
Bei solch Zukunftswerten ist der Einstiegskurs fast sekundär, oder?
Vergleichbar mit Ballard Power
Bei solch Zukunftswerten ist der Einstiegskurs fast sekundär, oder?
Vergleichbar mit Ballard Power
ich hoffe ihr seit mir gestern gefolgt und habt die option 573352 gekauft die stehen jetzt bei 0,23 gestern gab es sie zu
0,16 +43%. ich habe tränen in den augen vor glück. hoffentlich hält der aufschwung auch an .
ditto
und bums da is er nur noch bei 0,20 aber reicht auch erstmal aus.
0,16 +43%. ich habe tränen in den augen vor glück. hoffentlich hält der aufschwung auch an .
ditto
und bums da is er nur noch bei 0,20 aber reicht auch erstmal aus.
hab heute 30000 zu ,22 über Händler geordert, falls heute wieder negativ, werde ich mich weiter eindecken.
Bis 2002 dürfte der Wert bei 200 $ stehen, den OS werde ich sicher nicht versteuern!!!!
Bis 2002 dürfte der Wert bei 200 $ stehen, den OS werde ich sicher nicht versteuern!!!!
Hallo liebe LHSP-Gemeinde,
eigentlich habe ich in den letzten Monaten nur noch ganz selten in das WO-Board geschaut, weil es selten brauchbare Informationen zu lesen gibt. Dieser Thread und sein Vorgänger sind eine rühmliche Ausnahme, DANKE!!
Bin selber stark in lhsp investiert und bin auch sehr überzeugt von den Zukunftsaussichten für Spracherkennung, aber einige Fragen bleiben offen:
Zu den jüngsten Quartalszahlen:
1. 44% der Umsätze stammen aus Korea, es fällt mir wirklich nicht ganz leicht dem Glauben zu schenken, demnach macht LHSP in Korea mehr Umsätze als LHSP und NUAN in Nord Amerika zusammen! Und die Umsatzentwicklung in Singapore (-95% !!) zeigt, wie kurzlebig diese Zahlen sein können. Andererseits beschäftigt LHSP in Korea mehr als doppelt soviele Leute als NUAN insgesammt und an Bilanzfälschung bei der Perle der Belgier glaube ich noch weniger. Aber was, wenn der Korea-Boost nächstes Quartal ausbleibt? Und die Blase bei NUAN bis dahin geplatzt ist?
2. "Accounts Receivable increased to $238 million from $129 million at the end of the second quarter. The increase was due primarily to the inclusion of Dictaphone and Dragon."
Ich bin eigentlich kein Bilanzenleser, aber ist dies nicht ein Beweis dafür, daß die Umsatzeinbußen in der Tat auch auf die konservativere Bilanzierungsrichtline zurückzuführen ist und wir uns auf ca. 100 Mio. zusätzlichen Umsatz im nächsten oder übernächsten Quartal freuen können? Warum hat niemand auf der Analysten-Konferenz danach gefragt? 100 Mio. sind schließlich alles andere als Peanuts, oder missinterpretiere ich den Ausdruck "Accounts Receivable "??
Zu Microsoft:
3. 10% des Umsatzes hat der beste Kunde, Microsoft beigesteuert. Wieviel Technologie von lhsp steckt denn nun in dem sagenumwobenen Agent2.0? Entwickelt Micosoft einen eigenen SPracherkennungs-Engine oder basteln sie nur schicke Applicationen um den Kern von LHSP??
4. Folgendes paßt auch gut zur Rubrik Microsoft
Habe noch nirgendwo etwas über EPOC (Symbian, mein Tip für das Handy-OS der Zukunft...) als unterstützte Plattform gelesen. LHSP wird doch sicherlich nicht nur auf die Microsoft-Pappnasen setzen? In den Ankündigungen zu dem Wunderhandy-Chip heißt es, daß er auf allen verfügbaren Plattformen inklusive Win und Linux läuft. Die Vereinbarungen mit Endgerät-Herrstellern waren für Juli/August angekündigt. Gibts diesbezüglich etwas Neues zu berichten?
Zu NUAN:
5. NUAN vs LHSP
beide ca. 5 Mrd US$ market cap (LHSP jetzt nicht mehr
Umsatz: NUAN 19 Mio US$, LHSP 155 Mio. US$
Mitarbeiter 12/99: NUAN 258, LHSP >2200
NUAN=USA, LHSP=GlobalPlayer
Also ich habe gerade entschieden, daß es doch gar nicht stimmt, daß ich kein Cash zum Nachkaufen von LHSP habe, denn der Zeitpunkt zum Verkauf von NUAN erschien mir heute günstig
Von dem Call würde ich aber die Finger lassen! 70% Aufgeld p.a. - der OS-Rechner von www.onvista.de führt eindrucksvoll vor Augen, was das bei einem Kursanstieg auf 60 US$ bedeutet: Aktie performt bei 100% Zuwachs besser als der Call....
Wäre nett, wenn Ihr mich als Jünger in die neue Weltreligion aufnehmt und zu meinen 5 Punkten Stellung nehmt.
CIAO
Bogus
eigentlich habe ich in den letzten Monaten nur noch ganz selten in das WO-Board geschaut, weil es selten brauchbare Informationen zu lesen gibt. Dieser Thread und sein Vorgänger sind eine rühmliche Ausnahme, DANKE!!
Bin selber stark in lhsp investiert und bin auch sehr überzeugt von den Zukunftsaussichten für Spracherkennung, aber einige Fragen bleiben offen:
Zu den jüngsten Quartalszahlen:
1. 44% der Umsätze stammen aus Korea, es fällt mir wirklich nicht ganz leicht dem Glauben zu schenken, demnach macht LHSP in Korea mehr Umsätze als LHSP und NUAN in Nord Amerika zusammen! Und die Umsatzentwicklung in Singapore (-95% !!) zeigt, wie kurzlebig diese Zahlen sein können. Andererseits beschäftigt LHSP in Korea mehr als doppelt soviele Leute als NUAN insgesammt und an Bilanzfälschung bei der Perle der Belgier glaube ich noch weniger. Aber was, wenn der Korea-Boost nächstes Quartal ausbleibt? Und die Blase bei NUAN bis dahin geplatzt ist?
2. "Accounts Receivable increased to $238 million from $129 million at the end of the second quarter. The increase was due primarily to the inclusion of Dictaphone and Dragon."
Ich bin eigentlich kein Bilanzenleser, aber ist dies nicht ein Beweis dafür, daß die Umsatzeinbußen in der Tat auch auf die konservativere Bilanzierungsrichtline zurückzuführen ist und wir uns auf ca. 100 Mio. zusätzlichen Umsatz im nächsten oder übernächsten Quartal freuen können? Warum hat niemand auf der Analysten-Konferenz danach gefragt? 100 Mio. sind schließlich alles andere als Peanuts, oder missinterpretiere ich den Ausdruck "Accounts Receivable "??
Zu Microsoft:
3. 10% des Umsatzes hat der beste Kunde, Microsoft beigesteuert. Wieviel Technologie von lhsp steckt denn nun in dem sagenumwobenen Agent2.0? Entwickelt Micosoft einen eigenen SPracherkennungs-Engine oder basteln sie nur schicke Applicationen um den Kern von LHSP??
4. Folgendes paßt auch gut zur Rubrik Microsoft
Habe noch nirgendwo etwas über EPOC (Symbian, mein Tip für das Handy-OS der Zukunft...) als unterstützte Plattform gelesen. LHSP wird doch sicherlich nicht nur auf die Microsoft-Pappnasen setzen? In den Ankündigungen zu dem Wunderhandy-Chip heißt es, daß er auf allen verfügbaren Plattformen inklusive Win und Linux läuft. Die Vereinbarungen mit Endgerät-Herrstellern waren für Juli/August angekündigt. Gibts diesbezüglich etwas Neues zu berichten?
Zu NUAN:
5. NUAN vs LHSP
beide ca. 5 Mrd US$ market cap (LHSP jetzt nicht mehr
Umsatz: NUAN 19 Mio US$, LHSP 155 Mio. US$
Mitarbeiter 12/99: NUAN 258, LHSP >2200
NUAN=USA, LHSP=GlobalPlayer
Also ich habe gerade entschieden, daß es doch gar nicht stimmt, daß ich kein Cash zum Nachkaufen von LHSP habe, denn der Zeitpunkt zum Verkauf von NUAN erschien mir heute günstig
Von dem Call würde ich aber die Finger lassen! 70% Aufgeld p.a. - der OS-Rechner von www.onvista.de führt eindrucksvoll vor Augen, was das bei einem Kursanstieg auf 60 US$ bedeutet: Aktie performt bei 100% Zuwachs besser als der Call....
Wäre nett, wenn Ihr mich als Jünger in die neue Weltreligion aufnehmt und zu meinen 5 Punkten Stellung nehmt.
CIAO
Bogus
ohje, die erste Class Action (die spinnen, die Amis) und der Kurs fällt -Anwalt sollte man sein
Hi, @all
weiß denn keiner etwas über die Anklagen ( Mehrzahl ) ?? Hat L&S gelogen ? Und wenn ja, wie und in welcher Form.
Ich lese nur über Gewinne, KGV, Turnaround, Charttechnik usw, ...
Schade, wirklich schade. Keiner weiß was. Ich auch nicht. mfg RG1
weiß denn keiner etwas über die Anklagen ( Mehrzahl ) ?? Hat L&S gelogen ? Und wenn ja, wie und in welcher Form.
Ich lese nur über Gewinne, KGV, Turnaround, Charttechnik usw, ...
Schade, wirklich schade. Keiner weiß was. Ich auch nicht. mfg RG1
also, ich kenn jemanden, der morgen Freitag in London Mr. Bastiaens trifft. Hat jemand hier am Board konkrete Fragen, die er beantwortet haben möchte?
Killervertrag mit ARMY!
--------------------
Wednesday August 9, 7:43 pm Eastern Time
Press Release
Army Medical Signs Five Year, $30 Million Dollar Contract for L&H Dictaphone Dictation, Transcription Solutions
BURLINGTON, Mass. & STRATFORD, Conn.--(BUSINESS WIRE)--Aug. 9, 2000--
L&H Dictaphone Healthcare Solutions Chosen from Field of Competitive
Offerings; Contract is One of Many Recent Wins, Underscoring Company`s
Leadership Position in Healthcare
Dictaphone, a Lernout & Hauspie (NASDAQ: LHSP, EASDAQ: LHSP) (L&H) company, announced today that the Army Medical Department (AMEDD) has signed a contract worth up to $30 million dollars, calling for L&H(TM) Dictaphone® Healthcare Solutions Group to provide dictation and transcription solutions, including a forthcoming Internet-based solution series for the Army`s medical facilities. The high-profile Army contract, which was sought after by many other healthcare solutions vendors, is one of several significant medical market contracts recently secured by L&H Dictaphone and underscores the newly integrated company`s leadership in the healthcare industry.
The solutions covered by the contract include L&H(TM) Dictaphone® Enterprise Express® Voice, Text as well as continuous speech recognition products. The offerings will provide the Army with automated solutions for the creation, management and analysis of patient medical records for as many as thirty-seven peacetime medical facilities worldwide.
``L&H and Dictaphone have combined their resources to create a new, formidable leader in the healthcare solutions industry. The integration of our assets will drive the development and delivery of a wide range of leading-edge offerings for the medical market, including an Internet-based document creation, management and analysis solution,`` said John Duerden, CEO and president of L&H Healthcare Solutions Group. ``Our current and future solutions have the potential to tremendously enhance productivity for healthcare organizations worldwide. We believe that the Army chose our offerings because of this potential and the other benefits inherent in using our healthcare solutions.``
``After carefully evaluating a host of dictation and transcription solutions we determined that L&H Dictaphone solutions are the best suited to our current and future needs,`` said Lynne Zetterholm, Chief of the Program Integration and Oversight Division at the Army Office of the Surgeon General. ``We believe that L&H Dictaphone solutions will provide a number of benefits, including improved transcription report quality, more consistent turn-around times and reduced transcription costs. We also expect the systems will provide us with a standardized approach to providing digitized clinical reports.``
The contract calls for an initial delivery of twelve systems of Enterprise Express Voice, Text as well as continuous speech recognition products and services within the next three months. In addition, the contract calls for systems and services purchased on a subscription basis.
The contract was awarded by the Army Medical Department`s Central Contracting Activity, located in San Antonio, Texas. The Army Office of the Surgeon General is providing the strategic planning and oversight for this project. L&H Dictaphone will establish a centralized program office in Melbourne, Florida, which will drive first phase installation of twelve systems -- nine of which are in the continental United States and three in Germany.
-----
Yours digitally
KiKo
--------------------
Wednesday August 9, 7:43 pm Eastern Time
Press Release
Army Medical Signs Five Year, $30 Million Dollar Contract for L&H Dictaphone Dictation, Transcription Solutions
BURLINGTON, Mass. & STRATFORD, Conn.--(BUSINESS WIRE)--Aug. 9, 2000--
L&H Dictaphone Healthcare Solutions Chosen from Field of Competitive
Offerings; Contract is One of Many Recent Wins, Underscoring Company`s
Leadership Position in Healthcare
Dictaphone, a Lernout & Hauspie (NASDAQ: LHSP, EASDAQ: LHSP) (L&H) company, announced today that the Army Medical Department (AMEDD) has signed a contract worth up to $30 million dollars, calling for L&H(TM) Dictaphone® Healthcare Solutions Group to provide dictation and transcription solutions, including a forthcoming Internet-based solution series for the Army`s medical facilities. The high-profile Army contract, which was sought after by many other healthcare solutions vendors, is one of several significant medical market contracts recently secured by L&H Dictaphone and underscores the newly integrated company`s leadership in the healthcare industry.
The solutions covered by the contract include L&H(TM) Dictaphone® Enterprise Express® Voice, Text as well as continuous speech recognition products. The offerings will provide the Army with automated solutions for the creation, management and analysis of patient medical records for as many as thirty-seven peacetime medical facilities worldwide.
``L&H and Dictaphone have combined their resources to create a new, formidable leader in the healthcare solutions industry. The integration of our assets will drive the development and delivery of a wide range of leading-edge offerings for the medical market, including an Internet-based document creation, management and analysis solution,`` said John Duerden, CEO and president of L&H Healthcare Solutions Group. ``Our current and future solutions have the potential to tremendously enhance productivity for healthcare organizations worldwide. We believe that the Army chose our offerings because of this potential and the other benefits inherent in using our healthcare solutions.``
``After carefully evaluating a host of dictation and transcription solutions we determined that L&H Dictaphone solutions are the best suited to our current and future needs,`` said Lynne Zetterholm, Chief of the Program Integration and Oversight Division at the Army Office of the Surgeon General. ``We believe that L&H Dictaphone solutions will provide a number of benefits, including improved transcription report quality, more consistent turn-around times and reduced transcription costs. We also expect the systems will provide us with a standardized approach to providing digitized clinical reports.``
The contract calls for an initial delivery of twelve systems of Enterprise Express Voice, Text as well as continuous speech recognition products and services within the next three months. In addition, the contract calls for systems and services purchased on a subscription basis.
The contract was awarded by the Army Medical Department`s Central Contracting Activity, located in San Antonio, Texas. The Army Office of the Surgeon General is providing the strategic planning and oversight for this project. L&H Dictaphone will establish a centralized program office in Melbourne, Florida, which will drive first phase installation of twelve systems -- nine of which are in the continental United States and three in Germany.
-----
Yours digitally
KiKo
strong buy - von Cowen research - siehe Yahoo-com
http://www.cnetinvestor.com/yahoonews/newsitem-yahoo.asp?SYM…
http://www.cnetinvestor.com/yahoonews/newsitem-yahoo.asp?SYM…
Lernout & Hauspie - Strong Buy
Wins contract with Army Medical department. Contract worth up to $30MM; to start shipping Q4; should be the first of many wins for combined Dictaphone/LHSP solution, which meets a critical need for medical industry to improve record systems and save labor costs. We expect mgt to address Korea issue At NY meeting today. A possible solution would be a six-month audit. Quarterly numbers are routinely reviewed by KPMG, but a formal stub period audit would help answer questions about Korean contracts. LHSP $27
Yours digitally
KiKo
Wins contract with Army Medical department. Contract worth up to $30MM; to start shipping Q4; should be the first of many wins for combined Dictaphone/LHSP solution, which meets a critical need for medical industry to improve record systems and save labor costs. We expect mgt to address Korea issue At NY meeting today. A possible solution would be a six-month audit. Quarterly numbers are routinely reviewed by KPMG, but a formal stub period audit would help answer questions about Korean contracts. LHSP $27
Yours digitally
KiKo
Was Lernout betrifft waere ich etwas Vorsichtig im Moment.
Hatte Lernout schon seit Mai 1998 und habe die Aktie immer
gut verfolgt. Habe gestern fuer 36.6 Euro gluecklich verkauft.
Was mich skeptisch stimmt ist:
1.) Die Aktie hat einenungebrochenen fast Linearen abwaertstrend.
2.) Lernout wurde schon einmal Manipulation der Geschaeftszahlen
vorgeworfen. Damals hat es lange, lange gedauert bis sich die
Aktie erholen konnte, trotz einer besser werdenden Ertragslage.
Die Aktie hat sich in Europa in den letzten Tagen desoefteren
wieder aufgebaeumt, wurde aber von der Nasdaq wieder
runtergezogen. In den USA sieht man die Vorwuerfe auch wenn sie
nicht stimmen koennten nicht so gelassen wie hier. Die
eingereichte Flut von Klagen wird die Aktie noch einige Zeit
belasten, da sie mehr als 50% der Meldungen ausmachen.
Damals habe ich nachgekauft (14 Euro gerechnet mit Split),
weil die Aktie wirklich billig war.
3.) Die Zahlen sind schlecht ausgefallen, auch wenn dies erst auf
den Zweiten Blick auffaellt: 0.05/Aktie statt 0.03 sieht gut aus.
Aber: Letztes Jahr waren es 0.15/Aktie und dieses Jahr muesste
man eigentlich noch eine ausserordentliche Abschreibung
von -0.31/Aktie abziehen: macht also -0.26/Aktie Verlust!!!!
So werden die Zahlen in den USA gelesen.
Selbst wenn man wie in Europa diese spezielle Abschreibung nicht
beruecksichtigt, hat z.B. Research Online (siehe Onvista) die
Gewinnprognose fuer dieses Jahr von 0.86Euro/Aktie auf
0.55Euro/Aktie gesenkt. Macht ein KGV von 56 bei einem Kurs von
31 Euro. Nicht ganz billig meine ich.
4.) Der 30Mill$. Auftrag in 5 Jahren reisst die Aktie nicht raus.
Das sind 6Mill. im Jahr, bei 155Mill$ Umsatz im Jahr gerade
mal 3,87%. Frueher hat Lernout solche Auftraege oft gar nicht
veroeffentlicht. Vermutlich hat man sich diese Mitteilung schon
seit einiger Zeit in der Schublade aufgehoben, um sie fuer Tage
wie heute aufzuheben.
Ingesamt glaube ich, dass Lernout wieder auf die Beine kommen wird,
zum Einsteigen wuerde ich aber noch warten. Tiefere Kurse sind noch
sehr wahrscheinlich. Bei deutlich weniger als 25Euro koennte man
wieder an einen Einstieg denken, wenn sonst nicht passiert.
Viele Gruesse
Hatte Lernout schon seit Mai 1998 und habe die Aktie immer
gut verfolgt. Habe gestern fuer 36.6 Euro gluecklich verkauft.
Was mich skeptisch stimmt ist:
1.) Die Aktie hat einenungebrochenen fast Linearen abwaertstrend.
2.) Lernout wurde schon einmal Manipulation der Geschaeftszahlen
vorgeworfen. Damals hat es lange, lange gedauert bis sich die
Aktie erholen konnte, trotz einer besser werdenden Ertragslage.
Die Aktie hat sich in Europa in den letzten Tagen desoefteren
wieder aufgebaeumt, wurde aber von der Nasdaq wieder
runtergezogen. In den USA sieht man die Vorwuerfe auch wenn sie
nicht stimmen koennten nicht so gelassen wie hier. Die
eingereichte Flut von Klagen wird die Aktie noch einige Zeit
belasten, da sie mehr als 50% der Meldungen ausmachen.
Damals habe ich nachgekauft (14 Euro gerechnet mit Split),
weil die Aktie wirklich billig war.
3.) Die Zahlen sind schlecht ausgefallen, auch wenn dies erst auf
den Zweiten Blick auffaellt: 0.05/Aktie statt 0.03 sieht gut aus.
Aber: Letztes Jahr waren es 0.15/Aktie und dieses Jahr muesste
man eigentlich noch eine ausserordentliche Abschreibung
von -0.31/Aktie abziehen: macht also -0.26/Aktie Verlust!!!!
So werden die Zahlen in den USA gelesen.
Selbst wenn man wie in Europa diese spezielle Abschreibung nicht
beruecksichtigt, hat z.B. Research Online (siehe Onvista) die
Gewinnprognose fuer dieses Jahr von 0.86Euro/Aktie auf
0.55Euro/Aktie gesenkt. Macht ein KGV von 56 bei einem Kurs von
31 Euro. Nicht ganz billig meine ich.
4.) Der 30Mill$. Auftrag in 5 Jahren reisst die Aktie nicht raus.
Das sind 6Mill. im Jahr, bei 155Mill$ Umsatz im Jahr gerade
mal 3,87%. Frueher hat Lernout solche Auftraege oft gar nicht
veroeffentlicht. Vermutlich hat man sich diese Mitteilung schon
seit einiger Zeit in der Schublade aufgehoben, um sie fuer Tage
wie heute aufzuheben.
Ingesamt glaube ich, dass Lernout wieder auf die Beine kommen wird,
zum Einsteigen wuerde ich aber noch warten. Tiefere Kurse sind noch
sehr wahrscheinlich. Bei deutlich weniger als 25Euro koennte man
wieder an einen Einstieg denken, wenn sonst nicht passiert.
Viele Gruesse
Es gibt für mich nur zwei Möglichkeiten:
a, Spracherkennung, Sprachsteuerung und automatische Übersetzung braucht auf Dauer kein
Mensch, dann darf man LHSP nicht kaufen,
oder
b, Spracherkennung, Sprachsteuerung und automatische Überstzung werden für immer mehr
Menschen, immer mehr Geschäfte und immer mehr Geräte immer wichtiger,
dann sollte man auf den Marktführer setzen und sich in fünf, besser noch in zehn Jahren
über die Ernte freuen.
mfg
thefarmer
a, Spracherkennung, Sprachsteuerung und automatische Übersetzung braucht auf Dauer kein
Mensch, dann darf man LHSP nicht kaufen,
oder
b, Spracherkennung, Sprachsteuerung und automatische Überstzung werden für immer mehr
Menschen, immer mehr Geschäfte und immer mehr Geräte immer wichtiger,
dann sollte man auf den Marktführer setzen und sich in fünf, besser noch in zehn Jahren
über die Ernte freuen.
mfg
thefarmer
..und die Antwort ist klar: Sprache ist wichtig, durch Sprache wird uns die Realität vermittelt.
Sprache ist so wichtig, dass sich die FRankfurter Allgemeine nicht mehr retten kann vor Leserbriefen.
Schade, dass keine eine Frage hatte an G. Bastiaens, mein Kollege trifft in 1 Stunde mit ihm zusammen.....
Sprache ist so wichtig, dass sich die FRankfurter Allgemeine nicht mehr retten kann vor Leserbriefen.
Schade, dass keine eine Frage hatte an G. Bastiaens, mein Kollege trifft in 1 Stunde mit ihm zusammen.....
Hi nurkeinstress,
lese leider erst jetzt Dein Posting bezgl. des angeblichen Treffens von Mr. Bastiaens in London. Ich hätte zwei konkrete Fragen, vielleicht kann sie aber auch jemand anderes beantworten:
- Wie weit sind die Kooperationsverhandlungen mit Hardware-Firmen bezgl. des so großartig angekündigten NAK-Handy? Sehr ruhig geworden um dieses einst so laut angepriesene Wunderhandy!
- Was setzt MSFT in seinem Agent2.0 und in dem neuen Office 10 von LHSP ein, und wie sehen die Lizenzvereinbarungen ungefähr aus? Royalties?
CIAO
Bogus
lese leider erst jetzt Dein Posting bezgl. des angeblichen Treffens von Mr. Bastiaens in London. Ich hätte zwei konkrete Fragen, vielleicht kann sie aber auch jemand anderes beantworten:
- Wie weit sind die Kooperationsverhandlungen mit Hardware-Firmen bezgl. des so großartig angekündigten NAK-Handy? Sehr ruhig geworden um dieses einst so laut angepriesene Wunderhandy!
- Was setzt MSFT in seinem Agent2.0 und in dem neuen Office 10 von LHSP ein, und wie sehen die Lizenzvereinbarungen ungefähr aus? Royalties?
CIAO
Bogus
bogus, ich hab Dir eine Nachricht geschickt.
An Nurkeinstress
Könntest du die (hoffentlich positive ) mitteilung auch den anderen bordteilnehmern zukommen lassen ?
brauchen alle etwas balsam zum wundenlecken.
mfg
Zastro
Könntest du die (hoffentlich positive ) mitteilung auch den anderen bordteilnehmern zukommen lassen ?
brauchen alle etwas balsam zum wundenlecken.
mfg
Zastro
Thursday August 10, 6:18 pm Eastern Time
Press Release
Market-Leading BT Click for Business to Feature Lernout & Hauspie`s Internet Translation Services
BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 10, 2000--
Translation Offering via ignite Application Services`s Leading Small
Business Web Site Dramatically Expands Exposure, Accessibility for
L&H`s Services; Agreement Moves L&H Further In Internet Translation
Strategy
Lernout & Hauspie (NASDAQ: LHSP - news; EASDAQ: LHSP) (L&H), today announced that ignite Application Services`s market-leading BT Click for Business small business portal (www.btclickforbusiness.com), part of the BT Click for Business portfolio of services designed to get small businesses on the Internet, will feature L&H(TM) iTranslator(TM), Internet translation services. The agreement with ignite Application Services, one of the new business units formed by the reorganization of BT, brings the L&H translation services to BT Click for Business`s 70,000 small business customers. This will dramatically increase user access to L&H`s machine and human translation offerings in the UK, moving L&H further towards its goal of employing the Internet as a primary delivery mechanism for its real-time translation services. L&H also recently announced availability of its translation services via Microsoft® Office Update Web page.
...snip...
-------
Yours digitally
KiKo
Press Release
Market-Leading BT Click for Business to Feature Lernout & Hauspie`s Internet Translation Services
BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 10, 2000--
Translation Offering via ignite Application Services`s Leading Small
Business Web Site Dramatically Expands Exposure, Accessibility for
L&H`s Services; Agreement Moves L&H Further In Internet Translation
Strategy
Lernout & Hauspie (NASDAQ: LHSP - news; EASDAQ: LHSP) (L&H), today announced that ignite Application Services`s market-leading BT Click for Business small business portal (www.btclickforbusiness.com), part of the BT Click for Business portfolio of services designed to get small businesses on the Internet, will feature L&H(TM) iTranslator(TM), Internet translation services. The agreement with ignite Application Services, one of the new business units formed by the reorganization of BT, brings the L&H translation services to BT Click for Business`s 70,000 small business customers. This will dramatically increase user access to L&H`s machine and human translation offerings in the UK, moving L&H further towards its goal of employing the Internet as a primary delivery mechanism for its real-time translation services. L&H also recently announced availability of its translation services via Microsoft® Office Update Web page.
...snip...
-------
Yours digitally
KiKo
Hab heute nochmal 20000 OS zu 0,17 nachgelegt, jetzt lass ich´s erst mal wieder gut sein.
Bis Januar 2002 dürften wir die alten Höchststände wieder sehen, da kann mich auch das Aufgeld nicht schocken.
Mir fehlt aktuell das Geld, mir weitere 1000 L+H auch zu diesen Schnäppchenpreisen zu sichern, also hab ich mich auf Bezugsrechte für 1000 L+H beschränkt, auch wenn das gegen meine Langfristanlagephilosophie ist. Aber diese Kursrutsch war einfach zu verlockend...
Wahrscheinlich gibt es vor den nächsten Zahlen einen Run auf unser Baby, erste Upgrades kamen bereits und auch die Gewinnerwartungen wurden angehoben.
....ich rieche Kurzgeschmortes!!!...
Bis Januar 2002 dürften wir die alten Höchststände wieder sehen, da kann mich auch das Aufgeld nicht schocken.
Mir fehlt aktuell das Geld, mir weitere 1000 L+H auch zu diesen Schnäppchenpreisen zu sichern, also hab ich mich auf Bezugsrechte für 1000 L+H beschränkt, auch wenn das gegen meine Langfristanlagephilosophie ist. Aber diese Kursrutsch war einfach zu verlockend...
Wahrscheinlich gibt es vor den nächsten Zahlen einen Run auf unser Baby, erste Upgrades kamen bereits und auch die Gewinnerwartungen wurden angehoben.
....ich rieche Kurzgeschmortes!!!...
Etwas Vorsicht wäre angebracht - das Umfeld ist noch nicht positiv genug - eine 4 Mrd-Kapitalisierung interessiert in Ami-Land wenig wenn Schwergewichte in der dreistelligen Milliarden-Zone verhauen werden - Greenspan kommt am 22ten zu seiner großen Show - die Zinsen werden wieder mal das Thema sein -
ich habe auch gekauft , werde aber auch wieder bei um die 36€ verkaufen - und später das Ding vermutlich noch unter 30€ für die Langfristzeit bekommen
ich habe auch gekauft , werde aber auch wieder bei um die 36€ verkaufen - und später das Ding vermutlich noch unter 30€ für die Langfristzeit bekommen
Vorsicht ist allenfalls bei diesem "Rein-Raus-Spiel" angebracht. Die zu erzielenden Gewinnmargen sind angesichts der glänzenden Perspektiven und des unausweichlichen Megasqueezes lächerlich. Ich möchte nicht wissen, wieviele Leute vor 10 Jahren in Microsoft investiert waren und genau durch denselben Fehler heute immer noch arbeiten müssen ;-)
Die US-Wirtschaft hat bereits deutlich abgekühlt, die US-Präsidentschaftwahlen stehen an, die FED wird gar nichts tun.
Und selbst wenn, bei L+H wäre das unter mittelfristigen Anlagegesichtspunkten völlig irrelevant.
Ich bekenne, auch mit Aktien zu zocken, aber dafür gibt´s wirklich bessere Werte mit Riesenmomentum, wo irgendwann die Luft raus ist, den letzten beißen die Hunde..
Nicht so bei L+H, hier sehen wir eine Jahrhundertstory, bei der eigentlich alles paßt: Marktführerschaft, Weltmarkt mit grenzenloser Nachfrage, hohe Markteintrittschwelle bei deutlichem technischem Vorsprung, Allianzen mit nahezu allen Wirtschftsgrößen, enormes Wachstum bei bereits existierenden Gewinnen und geradezu lächerlicher Aktienkurs (insbesondere im Vergleich zu kleineren Nischenanbietern).
Die Strategie ist ebenso einfach wie langweilig: kaufen und halten, (es reicht eigentlich, in den nächsten Jahren über die aktuellen Splits von seiner Bank informiert zu werden, damit man in etwa die Anzahl seiner Aktien kennt) ;-))
Das aktuelle Schmierentheater hat mich zu einem Engagement in OS-Scheine verlockt (vernünftiger wären sicher die Aktien selbst gewesen, aber fehlende Liquidität zum Bezug von 1000 weiteren Aktien), aber vielleicht hab ich Glück, und Ausbruch kommt innerhalb meiner Frist von etwa 1,5 Jahren??
Die US-Wirtschaft hat bereits deutlich abgekühlt, die US-Präsidentschaftwahlen stehen an, die FED wird gar nichts tun.
Und selbst wenn, bei L+H wäre das unter mittelfristigen Anlagegesichtspunkten völlig irrelevant.
Ich bekenne, auch mit Aktien zu zocken, aber dafür gibt´s wirklich bessere Werte mit Riesenmomentum, wo irgendwann die Luft raus ist, den letzten beißen die Hunde..
Nicht so bei L+H, hier sehen wir eine Jahrhundertstory, bei der eigentlich alles paßt: Marktführerschaft, Weltmarkt mit grenzenloser Nachfrage, hohe Markteintrittschwelle bei deutlichem technischem Vorsprung, Allianzen mit nahezu allen Wirtschftsgrößen, enormes Wachstum bei bereits existierenden Gewinnen und geradezu lächerlicher Aktienkurs (insbesondere im Vergleich zu kleineren Nischenanbietern).
Die Strategie ist ebenso einfach wie langweilig: kaufen und halten, (es reicht eigentlich, in den nächsten Jahren über die aktuellen Splits von seiner Bank informiert zu werden, damit man in etwa die Anzahl seiner Aktien kennt) ;-))
Das aktuelle Schmierentheater hat mich zu einem Engagement in OS-Scheine verlockt (vernünftiger wären sicher die Aktien selbst gewesen, aber fehlende Liquidität zum Bezug von 1000 weiteren Aktien), aber vielleicht hab ich Glück, und Ausbruch kommt innerhalb meiner Frist von etwa 1,5 Jahren??
Hallo zusammen,
ich interessiere mich auch für L+H, denn ich denke die Sprachsteuerung kommt immer mehr - wenn ich sehe, was in der Automobilindustrie mit Sprachsteuerung getestet wird und was man sich später verspricht bzw. erwartet, dann denke ich , daß so ein Wert Zukunft hat.
Ich habe nur eine - wenn vielleicht auch blöde - Frage: Warum ging der Wert seit März immer mehr gen Süden - hat das was mit dem März-Crash zu tun, denn der Wert ist zwar ein Software, aber eigentlich kein Internetwert???
Welche Kursziele haltet ihr auf 3-Jahressicht für realistisch??
Gruß TheEngeneer
ich interessiere mich auch für L+H, denn ich denke die Sprachsteuerung kommt immer mehr - wenn ich sehe, was in der Automobilindustrie mit Sprachsteuerung getestet wird und was man sich später verspricht bzw. erwartet, dann denke ich , daß so ein Wert Zukunft hat.
Ich habe nur eine - wenn vielleicht auch blöde - Frage: Warum ging der Wert seit März immer mehr gen Süden - hat das was mit dem März-Crash zu tun, denn der Wert ist zwar ein Software, aber eigentlich kein Internetwert???
Welche Kursziele haltet ihr auf 3-Jahressicht für realistisch??
Gruß TheEngeneer
Lernout & Hauspie Announces Company Audit to Address Revenue and Customer Issues Raised in Business Press
Company Expects Validation of Strong Business in Korean
BURLINGTON, Mass. & IEPER, Belgium--(BUSINESS WIRE)--Aug. 13, 2000--Lernout & Hauspie, (Nasdaq: LHSP, Easdaq: (LHSP) (L&H), a worldwide market leader in speech and language technologies, products and services, today announced that it will commission a mid-year interim audit of the company - including its Korean operations - with the objective of allaying concerns about the division`s financial results. The audit will be conducted by Lernout & Hauspie`s independent auditor, KPMG.
``We have no doubt that the auditors will confirm that during the first two quarters of 2000 L&H Korea had strong revenues and a very solid business base, as already publicly reported,`` said Gaston Bastiaens, President and CEO of L&H. ``The August 8 article in Wall Street Journal raised concern regarding L&H`s Korean operations. We have commissioned this audit because we`re determined to remove any possible uncertainty about the integrity of our financial results.
-----
Yours digitally
KiKo
Company Expects Validation of Strong Business in Korean
BURLINGTON, Mass. & IEPER, Belgium--(BUSINESS WIRE)--Aug. 13, 2000--Lernout & Hauspie, (Nasdaq: LHSP, Easdaq: (LHSP) (L&H), a worldwide market leader in speech and language technologies, products and services, today announced that it will commission a mid-year interim audit of the company - including its Korean operations - with the objective of allaying concerns about the division`s financial results. The audit will be conducted by Lernout & Hauspie`s independent auditor, KPMG.
``We have no doubt that the auditors will confirm that during the first two quarters of 2000 L&H Korea had strong revenues and a very solid business base, as already publicly reported,`` said Gaston Bastiaens, President and CEO of L&H. ``The August 8 article in Wall Street Journal raised concern regarding L&H`s Korean operations. We have commissioned this audit because we`re determined to remove any possible uncertainty about the integrity of our financial results.
-----
Yours digitally
KiKo
MotleyFool.com - Fool Plate Special
Lernout & Hauspie Claims Korean Customers
By Bill Mann
Last week a bit of a firestorm brewed when The Wall Street Journal raised some questions about the veracity of Lernout & Hauspie`s (Nasdaq: LHSP - news) customer list and revenues in its Korean operations. Lernout & Hauspie responded at first by rejecting the Journal`s findings, then announced over the weekend that it would have an audit run on its Korean subsidiary operations.
Lernout & Hauspie is the world`s largest provider of speech recognition software and is alternately one of the stock market`s darlings and whipping boys. In particular, the company`s aggressive acquisitions, high percentage of affiliate sales, and relative lack of reporting have made it difficult to make an accurate assessment of the true performance of the company. (Until this year, Lernout & Hauspie had filed only the minimum required by the SEC for foreign companies listed in the U.S., and not in electronic form.)
Even stranger has been the spectacular growth Lernout & Hauspie has enjoyed in Korea: Sales have grown from $97,000 in Q1 of last year to nearly $59 million in Q1 of this year, an increase of more than 60,000%. (The company reported Q2 revenues August 8.) Korea has traditionally been an extremely difficult market for foreign companies to operate in, most companies achieving success only after many years of relationship building, if at all.
This amount of growth is even more fantastic when one considers that Korea is the only market in the world in which Lernout & Hauspie has achieved any topline growth over last year. In all other markets, including its home European market, sales declined over the last year. In Singapore, for example, the company`s sales dropped from $80 million to $500,000. So Korea has gone from being a bit player in the company`s revenue mix to owning the starring role.
Lernout & Hauspie acquired a Korean company that has supposedly opened doors for the company, and it also has the benefit of being the first to market with its products. Even the Journal found signs of significant sales of Lernout & Hauspie goods, almost all since the company bought locally owned Bumil Information.
But skeptical observers have questioned the veracity of Lernout & Hauspie`s Korean sales after the company`s chief executive, Gaston Bastaens, volunteered names and approximate sales numbers for 30 Korean customers.
The problem is that a fair number of the companies named either denied being customers of Lernout & Hauspie or said their purchase amounts were significantly below those quoted by Bastaens. The Journal reported that of the 13 responses they received from those listed, three stated that they were not customers, three said they had bought in amounts significantly smaller than those quoted by Bastaens, and one was actually a joint venture partner with revenues significantly below those quoted by Bastaens.
The company insists the sales numbers in its last quarterly report are accurate. This insistence has done nothing to stem the flood of class action filings on behalf of shareholders. While some law offices seem to file such suits if a CEO has a bad hair day, should Lernout & Hauspie`s numbers turn out to be incorrect, these suits may have some merit and a longer-term impact.
Who`s in charge of this ship anyway?
Fortunately we don`t have to take a CEO`s word for sales: Mr. Bastaen`s word is not the bond of the company. But the issues that have come up lately ought to be of grave concern to Lernout shareholders.
The company`s CEO is not intimately aware of the details of the company`s largest customers in the only market where it is growing? Even after the acquisition of Dragon, its largest competitor, we find that sales everywhere else are decreasing? The company must have an external audit done by KPMG to get -- or to verify -- an accurate picture of its sales and customer list? Wow, I don`t need to see the results of that to know that Lernout & Hauspie has earned whatever credibility problems it has. To my mind, either the company`s management is playing hard and fast with the facts or it has no idea what the facts are. Given its recent global sales performance, that`s a plenty big red flag.
Yours digitally
KiKo
Lernout & Hauspie Claims Korean Customers
By Bill Mann
Last week a bit of a firestorm brewed when The Wall Street Journal raised some questions about the veracity of Lernout & Hauspie`s (Nasdaq: LHSP - news) customer list and revenues in its Korean operations. Lernout & Hauspie responded at first by rejecting the Journal`s findings, then announced over the weekend that it would have an audit run on its Korean subsidiary operations.
Lernout & Hauspie is the world`s largest provider of speech recognition software and is alternately one of the stock market`s darlings and whipping boys. In particular, the company`s aggressive acquisitions, high percentage of affiliate sales, and relative lack of reporting have made it difficult to make an accurate assessment of the true performance of the company. (Until this year, Lernout & Hauspie had filed only the minimum required by the SEC for foreign companies listed in the U.S., and not in electronic form.)
Even stranger has been the spectacular growth Lernout & Hauspie has enjoyed in Korea: Sales have grown from $97,000 in Q1 of last year to nearly $59 million in Q1 of this year, an increase of more than 60,000%. (The company reported Q2 revenues August 8.) Korea has traditionally been an extremely difficult market for foreign companies to operate in, most companies achieving success only after many years of relationship building, if at all.
This amount of growth is even more fantastic when one considers that Korea is the only market in the world in which Lernout & Hauspie has achieved any topline growth over last year. In all other markets, including its home European market, sales declined over the last year. In Singapore, for example, the company`s sales dropped from $80 million to $500,000. So Korea has gone from being a bit player in the company`s revenue mix to owning the starring role.
Lernout & Hauspie acquired a Korean company that has supposedly opened doors for the company, and it also has the benefit of being the first to market with its products. Even the Journal found signs of significant sales of Lernout & Hauspie goods, almost all since the company bought locally owned Bumil Information.
But skeptical observers have questioned the veracity of Lernout & Hauspie`s Korean sales after the company`s chief executive, Gaston Bastaens, volunteered names and approximate sales numbers for 30 Korean customers.
The problem is that a fair number of the companies named either denied being customers of Lernout & Hauspie or said their purchase amounts were significantly below those quoted by Bastaens. The Journal reported that of the 13 responses they received from those listed, three stated that they were not customers, three said they had bought in amounts significantly smaller than those quoted by Bastaens, and one was actually a joint venture partner with revenues significantly below those quoted by Bastaens.
The company insists the sales numbers in its last quarterly report are accurate. This insistence has done nothing to stem the flood of class action filings on behalf of shareholders. While some law offices seem to file such suits if a CEO has a bad hair day, should Lernout & Hauspie`s numbers turn out to be incorrect, these suits may have some merit and a longer-term impact.
Who`s in charge of this ship anyway?
Fortunately we don`t have to take a CEO`s word for sales: Mr. Bastaen`s word is not the bond of the company. But the issues that have come up lately ought to be of grave concern to Lernout shareholders.
The company`s CEO is not intimately aware of the details of the company`s largest customers in the only market where it is growing? Even after the acquisition of Dragon, its largest competitor, we find that sales everywhere else are decreasing? The company must have an external audit done by KPMG to get -- or to verify -- an accurate picture of its sales and customer list? Wow, I don`t need to see the results of that to know that Lernout & Hauspie has earned whatever credibility problems it has. To my mind, either the company`s management is playing hard and fast with the facts or it has no idea what the facts are. Given its recent global sales performance, that`s a plenty big red flag.
Yours digitally
KiKo
Visteon has partnerships with such firms as Bang & Olufson, Sirius Satellite Radio Inc. (NasdaqNM:SIRI - news), Samsung Electronics Co. Ltd., Microsoft Corp. (NasdaqNM:MSFT - news), Intel Corp. (NasdaqNM:INTC - news) and Lernout & Hauspie Speech Products NV (NasdaqNM:LHSP - news).
Yours digitally
KiKo
Yours digitally
KiKo
Danke, Kiko - meine ich ehrlich!!
wenn du immer die Yahoo-Nachrichten hier reinkopierst, brauch ich sie nicht mehr selber suchen - übersetzt du auch?
yatri
wenn du immer die Yahoo-Nachrichten hier reinkopierst, brauch ich sie nicht mehr selber suchen - übersetzt du auch?
yatri
Wer in Spachtech. investiert, sollte doch wenigstens Englisch verstehen . Wenn es mal hapern sollte:
Bei
http://www.altavista.com/r?L24
übersetzen lassen.
Yours digitally <helpful hand>
KiKo
Bei
http://www.altavista.com/r?L24
übersetzen lassen.
Yours digitally <helpful hand>
KiKo
Danke dir für diesen Tipp.
Aber ich bin gelernter Anglist und bin in Englisch so fit wie in Deutsch - das herüberkopieren der nachrichten füllt den Thread aber angenehmer als unser geblubber.
nix für ungut
yatri
Aber ich bin gelernter Anglist und bin in Englisch so fit wie in Deutsch - das herüberkopieren der nachrichten füllt den Thread aber angenehmer als unser geblubber.
nix für ungut
yatri
Der Visteon-Artikel dürfte in etwa vor Augen führen, wohin die Richtung geht, und welches grenzenlose Potential LHSP vor sich hat.
Jetzt mal 1 Gedanke zu den negativen Pressemeldungen:
Warum fragt sich eigentlich keiner, ob das explosive Wachstum in Korea nur der Vorreiter ist, und die sinkenden Margen in Europa und USA nur ein kurzfristiger Zustand, der spätestens beendet sein wird, wenn die entsprechende Infrastruktur der Hardware Alltag sein wird?
Mini-Computer die auf kurze Befehle regieren werden schon bald überall sein, vom Fahrstuhl bis zur Internetnavigation, und das sicherlich nicht nur in Korea.
Und womit glauben die Analysten finanzieren sich die extremen UMTS-Lizenzen. Bestimmt nicht über mühseliges eintippen, sei es beim Shopping oder beim Abrufen der Aktienkurse beim Nachhauseweg. Die Telefonbetreiber werden mit Hochtouren an einer praktischeren Lösung arbeiten.
Auch die Hardwareindustrie braucht speicherfressende Applikationen dringendst, das Spiel "neue Windowsversion braucht neuen Intelprozessor" neigt sich dem Ende zu. Könnte gut sein, daß neue Dragon/VoiceXpress-Versionen die Rolle von Windows übernehmen (da noch schnellere CPU`s keine Windowsperformanceverbesserung mehr bringen), und Intel hält etwa 7% von L+H.
Der 2. Punkt ist folgender:
Könnte sich L+H nicht mit den Shortsellern arrangiert haben, da bei diesem Krieg keiner gewinnt. Am 8.8. wurden 13 Mio Aktien umgesetzt, d.h. irgendjemand hat nach den negativen WSJ-Artikel massiv gekauft.
L+H hat heftigst dementiert, aber sie verklagen das WSJ nicht.
Was, wenn die ganze Geschichte arrangiert war, die (professionellen)Shorts sich eindecken konnten, nachdem man das Potential von Voiceapplikationen bei NUAN uns SPWX gesehen hat??
Herb ist seither ziemlich still geworden, ob er die Seiten gewechselt hat??
Insiderkäufe bei Bilanzfälschungen schließen sich praktisch aus.
Das alles sind pure Spekulationen, für mich aber schlüssig. Ich denke der Zug wird bald mit Volldampf abfahren!
Jetzt mal 1 Gedanke zu den negativen Pressemeldungen:
Warum fragt sich eigentlich keiner, ob das explosive Wachstum in Korea nur der Vorreiter ist, und die sinkenden Margen in Europa und USA nur ein kurzfristiger Zustand, der spätestens beendet sein wird, wenn die entsprechende Infrastruktur der Hardware Alltag sein wird?
Mini-Computer die auf kurze Befehle regieren werden schon bald überall sein, vom Fahrstuhl bis zur Internetnavigation, und das sicherlich nicht nur in Korea.
Und womit glauben die Analysten finanzieren sich die extremen UMTS-Lizenzen. Bestimmt nicht über mühseliges eintippen, sei es beim Shopping oder beim Abrufen der Aktienkurse beim Nachhauseweg. Die Telefonbetreiber werden mit Hochtouren an einer praktischeren Lösung arbeiten.
Auch die Hardwareindustrie braucht speicherfressende Applikationen dringendst, das Spiel "neue Windowsversion braucht neuen Intelprozessor" neigt sich dem Ende zu. Könnte gut sein, daß neue Dragon/VoiceXpress-Versionen die Rolle von Windows übernehmen (da noch schnellere CPU`s keine Windowsperformanceverbesserung mehr bringen), und Intel hält etwa 7% von L+H.
Der 2. Punkt ist folgender:
Könnte sich L+H nicht mit den Shortsellern arrangiert haben, da bei diesem Krieg keiner gewinnt. Am 8.8. wurden 13 Mio Aktien umgesetzt, d.h. irgendjemand hat nach den negativen WSJ-Artikel massiv gekauft.
L+H hat heftigst dementiert, aber sie verklagen das WSJ nicht.
Was, wenn die ganze Geschichte arrangiert war, die (professionellen)Shorts sich eindecken konnten, nachdem man das Potential von Voiceapplikationen bei NUAN uns SPWX gesehen hat??
Herb ist seither ziemlich still geworden, ob er die Seiten gewechselt hat??
Insiderkäufe bei Bilanzfälschungen schließen sich praktisch aus.
Das alles sind pure Spekulationen, für mich aber schlüssig. Ich denke der Zug wird bald mit Volldampf abfahren!
mal ein netter artikel der so ziemlich die gesamte jetzige Situation gut zusammenfasst.
Quelle: http://www.theregister.co.uk/content/1/12487.html
The trouble with LearnHowTospeak Korean
By: Graham Lea
Posted: 09/08/2000 at 22:39 GMT
Lernout & Hauspie (L&H) stock fell 19 per cent on Tuesday (Aug 8, 2000) following a Wall Street Journal article which questioned the veracity of sales figures claimed by the company`s operation in Korea.
With Q2 sales of $68 million for Q2, Korea contributes a very high proportion of revenues (44 per cent this quarter)booked by the speech and translation software specialist.
Korean sales were just $97,000 in Q1 1999 but reached $58 million in Q1 this year. Singapore revenues, by contrasted nosedived over the same period, with $10.43 million sales booked in Q1 1999 Q1, but only $0.501 million in Q1 2000. (Q2 2000 sales were $0.9 million.)
LearnHowToSpeak Korean
The WSJ article looks, at first glance, like some interesting sleuthing. And the inference is clear that it thinks some jiggery-pokery is going on.
But we advise some caution.
The WSJ contacted 18 of some 30 Korean customers identified by L&H, and of the 13 that responded, three said that they were not L&H customers and another three said that their purchases were less than L&H had claimed. L&H admitted it had made some mistakes in its list, but disagreed with the responses from Korean companies. But curiously, the WSJ account of L&H`s Korean customers is itself flawed, as is seen from admissions contained in its report.
For example in follow-up interviews, one interviewee said: "I lied about everything," while another changed his story to agree with L&H`s version. The impression is given that the WSJ reporter in Seoul found that L&H`s data was at least close to what the company was claiming, but the piece still retains the implications of inaccurate financial reporting.
L&H said in a statement that it "categorically refutes claims made... that discrepancies exist in the company`s sales figures for Korea," and went on to say that it believed that its customers were either "misquoted or factually incorrect".
L&H CEO Gaston Bastiaens said the tremendous success in the Korean market resulted from strategic alliances, the development of solutions, and that he intended "to implement the business structure we have developed there throughout our operations worldwide".
In earlier press releases, L&H had noted that it had 300 staff in Koreaserving 150 corporate customers in a "very robust" speech and language market. L&H acquired the Korean company Burmil in the summer of 1999, which became L&H Korea. The supposition is therefore that Burmil knew the potential customers and that L&H had the technology - and the result was that the market took off in a country where there is a considerable need for L&H products.
Short Tempered
L&H has had more than its fair share of short sellers and detractors. Herb Greenberg of thestreet.com (who says he has no L&H holding) has found that his questions, which seem legitimate enough, have gone unanswered from Ellen Spooren, L&H`s head PR - but he may not be well-loved at L&H.
In a different camp are the short sellers who kept the stock down for a long time before it quadrupled with last year`s bull market (and declined again in parallel with the market), closing on Tuesday at a post-split $29.8125 but opening up on Wednesday as bargain hunters came out to play.
L&H has made its situation somewhat confusing by deciding to carry out a fundamental re-organisation. It is setting up separate companies for its healthcare and translation divisions as soon as practicable. Doing this while consolidating the Dictaphone and Dragon acquisitions must be putting a considerable strain on management resources.
Tongues have also been set wagging by a shelf transaction and some very strange share transactions and a shelf registration.
Money, Money, Money
Q2 showed L&H sales doubling over the previous year to $155 million, more than double the year-earlier quarter. Dictaphone and Dragon - the acquisitions were completed during the quarter - contributed $31 million, so the comparable figure for a year earlier of $124 million shows an increase of 63 per cent, with 72 per cent of the increase being attributed to organic growth.
European sales were up 23 per cent to $36 million on the year-earlier quarter, while North American sales at $48 million were up 25 per cent, and the non-Korean remainder up 11 per cent. Despite the strange revenue pattern, the company increased its cash and marketable securities during the quarter by $21 million to $200 million, so it does not seem that a cash crisis is imminent.
The acquisitions had a negative effect on the income for the quarter because of what L&H calls its more conservative revenue recognition practices. L&H wrote of its own revenue recognition policy in its 10-K that: "The Company recognizes revenue from the sale of its software licenses upon satisfaction of all of the following criteria: signing of the license agreement, shipment of the products, when no contractual terms remain unsatisfied and, if applicable, when a royalty report is received from the customer."
When Dragon filed an S-1 with the SEC last year prior to attempting to float, it said: "The Company recognizes revenue and the related receivable from software license revenue to distributors at the time the products are shipped out of distribution into the retail accounts and VARs. The Company recognizes revenue from product sold directly to end users at the time of shipment."
Dictaphone says, in its 10-K : "Revenue is recognized when earned. In accordance with American Institute of Certified Public Accountants Statements of Position 97-2 `Software Revenue Recognition` and related amendments, for products with a significant software element, the Company records revenue attributable to the hardware and software elements upon shipment and defers revenue attributable to undelivered elements (principally installation and training) to the periods in which the related obligations are performed. Revenue for all other products is recognized upon shipment or when service is performed."
The devil is in the detail, no doubt, but it seems that both Dragon and Dictaphone were conservative in their revenue recognition. It would be interesting to discover just what L&H had in mind as to the difference. The next quarter will show the full effect of the income from these acquisitions, although L&H has to service $430 million of Dictaphone`s "obligations".
Like Microsoft, L&H would like to change its revenue stream from one-time sales to a revenue stream. Corel found that satisfied customers for WordPerfect didn`t feel compelled to buy updates, and the same thought must have occurred to L&H. Microsoft is still L&H`s largest customer, as well as a shareholder.
Bastiaens said in the Q2 analyst call that Microsoft would contribute "around $10 million". Bernard Vergnes, Microsoft`s head man in Europe, is on the L&H board although so far L&H has been able to maintain its independence from Microsoft. It is active in the Linux and Unix markets, and has a contract to supply Symbian with products.
A Question Of Forms
L&H has met criticism in some quarters for past failures to volunteer to file 10-Qs and 10-Ks with the SEC, although it was not obliged to do this until May when the Dictaphone acquisition was completed.
Perhaps to head off criticism, L&H decided it would voluntarily file 10-Qs for Q2 of 1999 onwards, and did this at the end of June. It was these reports that disclosed for the first time the high proportion of L&H revenue coming from Korea, and resulted in fears that revenue in the US and Europe might be declining.
Summer Holiday
US critics suggested that the 30 June filing date had been chosen to correspond with the US holiday, and maybe it was - but filing just before a weekend or holiday is a common enough way to bury information that might distract, because the financial analysts would have departed to their weekend bolt holes.
R&D
L&H was one of the targets for an SEC investigation as to how it accounted for R&D in 1997/8 - the same problem that Netscape and many others have had.
The result was that L&H had to lower losses for 1997 and 1998, and reduce profits subsequently. L&H must do a better job of presentation, and stop any more big acquisitions until it has strengthened its management.
Assuming that what it says about its accounts is true (its auditors are KPMG) and there is no funny business going on, then it should be in a commanding position when the market catches up with the technology that it has available. ®
L&H pins voice tech to Asian growth
Quelle: http://www.theregister.co.uk/content/1/12487.html
The trouble with LearnHowTospeak Korean
By: Graham Lea
Posted: 09/08/2000 at 22:39 GMT
Lernout & Hauspie (L&H) stock fell 19 per cent on Tuesday (Aug 8, 2000) following a Wall Street Journal article which questioned the veracity of sales figures claimed by the company`s operation in Korea.
With Q2 sales of $68 million for Q2, Korea contributes a very high proportion of revenues (44 per cent this quarter)booked by the speech and translation software specialist.
Korean sales were just $97,000 in Q1 1999 but reached $58 million in Q1 this year. Singapore revenues, by contrasted nosedived over the same period, with $10.43 million sales booked in Q1 1999 Q1, but only $0.501 million in Q1 2000. (Q2 2000 sales were $0.9 million.)
LearnHowToSpeak Korean
The WSJ article looks, at first glance, like some interesting sleuthing. And the inference is clear that it thinks some jiggery-pokery is going on.
But we advise some caution.
The WSJ contacted 18 of some 30 Korean customers identified by L&H, and of the 13 that responded, three said that they were not L&H customers and another three said that their purchases were less than L&H had claimed. L&H admitted it had made some mistakes in its list, but disagreed with the responses from Korean companies. But curiously, the WSJ account of L&H`s Korean customers is itself flawed, as is seen from admissions contained in its report.
For example in follow-up interviews, one interviewee said: "I lied about everything," while another changed his story to agree with L&H`s version. The impression is given that the WSJ reporter in Seoul found that L&H`s data was at least close to what the company was claiming, but the piece still retains the implications of inaccurate financial reporting.
L&H said in a statement that it "categorically refutes claims made... that discrepancies exist in the company`s sales figures for Korea," and went on to say that it believed that its customers were either "misquoted or factually incorrect".
L&H CEO Gaston Bastiaens said the tremendous success in the Korean market resulted from strategic alliances, the development of solutions, and that he intended "to implement the business structure we have developed there throughout our operations worldwide".
In earlier press releases, L&H had noted that it had 300 staff in Koreaserving 150 corporate customers in a "very robust" speech and language market. L&H acquired the Korean company Burmil in the summer of 1999, which became L&H Korea. The supposition is therefore that Burmil knew the potential customers and that L&H had the technology - and the result was that the market took off in a country where there is a considerable need for L&H products.
Short Tempered
L&H has had more than its fair share of short sellers and detractors. Herb Greenberg of thestreet.com (who says he has no L&H holding) has found that his questions, which seem legitimate enough, have gone unanswered from Ellen Spooren, L&H`s head PR - but he may not be well-loved at L&H.
In a different camp are the short sellers who kept the stock down for a long time before it quadrupled with last year`s bull market (and declined again in parallel with the market), closing on Tuesday at a post-split $29.8125 but opening up on Wednesday as bargain hunters came out to play.
L&H has made its situation somewhat confusing by deciding to carry out a fundamental re-organisation. It is setting up separate companies for its healthcare and translation divisions as soon as practicable. Doing this while consolidating the Dictaphone and Dragon acquisitions must be putting a considerable strain on management resources.
Tongues have also been set wagging by a shelf transaction and some very strange share transactions and a shelf registration.
Money, Money, Money
Q2 showed L&H sales doubling over the previous year to $155 million, more than double the year-earlier quarter. Dictaphone and Dragon - the acquisitions were completed during the quarter - contributed $31 million, so the comparable figure for a year earlier of $124 million shows an increase of 63 per cent, with 72 per cent of the increase being attributed to organic growth.
European sales were up 23 per cent to $36 million on the year-earlier quarter, while North American sales at $48 million were up 25 per cent, and the non-Korean remainder up 11 per cent. Despite the strange revenue pattern, the company increased its cash and marketable securities during the quarter by $21 million to $200 million, so it does not seem that a cash crisis is imminent.
The acquisitions had a negative effect on the income for the quarter because of what L&H calls its more conservative revenue recognition practices. L&H wrote of its own revenue recognition policy in its 10-K that: "The Company recognizes revenue from the sale of its software licenses upon satisfaction of all of the following criteria: signing of the license agreement, shipment of the products, when no contractual terms remain unsatisfied and, if applicable, when a royalty report is received from the customer."
When Dragon filed an S-1 with the SEC last year prior to attempting to float, it said: "The Company recognizes revenue and the related receivable from software license revenue to distributors at the time the products are shipped out of distribution into the retail accounts and VARs. The Company recognizes revenue from product sold directly to end users at the time of shipment."
Dictaphone says, in its 10-K : "Revenue is recognized when earned. In accordance with American Institute of Certified Public Accountants Statements of Position 97-2 `Software Revenue Recognition` and related amendments, for products with a significant software element, the Company records revenue attributable to the hardware and software elements upon shipment and defers revenue attributable to undelivered elements (principally installation and training) to the periods in which the related obligations are performed. Revenue for all other products is recognized upon shipment or when service is performed."
The devil is in the detail, no doubt, but it seems that both Dragon and Dictaphone were conservative in their revenue recognition. It would be interesting to discover just what L&H had in mind as to the difference. The next quarter will show the full effect of the income from these acquisitions, although L&H has to service $430 million of Dictaphone`s "obligations".
Like Microsoft, L&H would like to change its revenue stream from one-time sales to a revenue stream. Corel found that satisfied customers for WordPerfect didn`t feel compelled to buy updates, and the same thought must have occurred to L&H. Microsoft is still L&H`s largest customer, as well as a shareholder.
Bastiaens said in the Q2 analyst call that Microsoft would contribute "around $10 million". Bernard Vergnes, Microsoft`s head man in Europe, is on the L&H board although so far L&H has been able to maintain its independence from Microsoft. It is active in the Linux and Unix markets, and has a contract to supply Symbian with products.
A Question Of Forms
L&H has met criticism in some quarters for past failures to volunteer to file 10-Qs and 10-Ks with the SEC, although it was not obliged to do this until May when the Dictaphone acquisition was completed.
Perhaps to head off criticism, L&H decided it would voluntarily file 10-Qs for Q2 of 1999 onwards, and did this at the end of June. It was these reports that disclosed for the first time the high proportion of L&H revenue coming from Korea, and resulted in fears that revenue in the US and Europe might be declining.
Summer Holiday
US critics suggested that the 30 June filing date had been chosen to correspond with the US holiday, and maybe it was - but filing just before a weekend or holiday is a common enough way to bury information that might distract, because the financial analysts would have departed to their weekend bolt holes.
R&D
L&H was one of the targets for an SEC investigation as to how it accounted for R&D in 1997/8 - the same problem that Netscape and many others have had.
The result was that L&H had to lower losses for 1997 and 1998, and reduce profits subsequently. L&H must do a better job of presentation, and stop any more big acquisitions until it has strengthened its management.
Assuming that what it says about its accounts is true (its auditors are KPMG) and there is no funny business going on, then it should be in a commanding position when the market catches up with the technology that it has available. ®
L&H pins voice tech to Asian growth
@carnado
Ich denke Du hast recht was den Zusammenhang betrifft. Nur glaube ich keinesfalls, daß auch nur die kleinste Querverbindung zwischen den betroffenen Personen besteht! Das wäre Selbstouting in Reinkultur und anders als "Friends and Family" (ja warum können sich die Leute nur so große Häuser leisten?) absolut strafbar und auf Firmenzukunft gesehen der K.O.! Doch wie ich meine, können sich die vielgelobten Analysten vor Ersterscheinung ihres Berichtes mit schönen Puts eindecken,- genauso wie die maßgeblichen Personen vor ihren Dementis mit Calls! Fakt ist: alles legal Hauptsache Tasche voll----!!!!!!!!!!!!!!!!! Wir müssen diese trübe Situation aussitzen, es sei denn, man verkauft solch eine zuikunftsträchtige Aktie aus Angst vor dem, wie ich meine, unbegründeten Absturz! Meine L&H´s liegen jedenfalls noch im Depot und keiner dieser abgewichsten Lemmingeverarscher hat sie zu Dumpingpreisen bekommen!
Gruß,
aysxdc
Ich denke Du hast recht was den Zusammenhang betrifft. Nur glaube ich keinesfalls, daß auch nur die kleinste Querverbindung zwischen den betroffenen Personen besteht! Das wäre Selbstouting in Reinkultur und anders als "Friends and Family" (ja warum können sich die Leute nur so große Häuser leisten?) absolut strafbar und auf Firmenzukunft gesehen der K.O.! Doch wie ich meine, können sich die vielgelobten Analysten vor Ersterscheinung ihres Berichtes mit schönen Puts eindecken,- genauso wie die maßgeblichen Personen vor ihren Dementis mit Calls! Fakt ist: alles legal Hauptsache Tasche voll----!!!!!!!!!!!!!!!!! Wir müssen diese trübe Situation aussitzen, es sei denn, man verkauft solch eine zuikunftsträchtige Aktie aus Angst vor dem, wie ich meine, unbegründeten Absturz! Meine L&H´s liegen jedenfalls noch im Depot und keiner dieser abgewichsten Lemmingeverarscher hat sie zu Dumpingpreisen bekommen!
Gruß,
aysxdc
kiko,
wer sich mit Englisch oder Fremdsprachen hart tut, der erkennt den Wert einer LHSP vielleicht
sogar noch viel besser,
genau so, wie die Leute, die wenig Kraft haben, das Rad besser schätzten als die, die sich stark fühlten,
genau so, die jene, die schlecht sehen, die Brille schätzen, etc. etc. etc.
mfg
thefarmer
wer sich mit Englisch oder Fremdsprachen hart tut, der erkennt den Wert einer LHSP vielleicht
sogar noch viel besser,
genau so, wie die Leute, die wenig Kraft haben, das Rad besser schätzten als die, die sich stark fühlten,
genau so, die jene, die schlecht sehen, die Brille schätzen, etc. etc. etc.
mfg
thefarmer
Hi LHSP`ler,
also da bin ich ja enttäuscht, dass ihr nicht den LHSP-MSFT-Übersetzer im Internet nehmt !!!!!!!!!
Also: alle Favoriten-Links dahingehend ändern, ansonsten geht ihr in 10 Jahren immer noch arbeiten. *lol*
http://officeupdate.lhsl.com
Ach und noch was: Seid ihr (SMS-User) es nicht auch schon lange leid, eure verflixten max. 140 Zeichen immer per umständlicher Tastatur eingeben zu müssen (wie grausam umständlich - die Technik kommt mir wie graue Urzeit vor)- wie einfach wäre die Eingabe per Sprache - ein kleiner Grund mehr, der LHSP-Zukunft zu vertrauen.
Ach und noch was ganz wichtiges!!!
Habt ihr schon irgendwann einmal in Europa oder in anderen Kontinenten TV-Werbung (oder Radio oder Printmedien) von LHSP gesehen?
Sollte es solche Filmchen, Spots, Anzeigen oder ähnliches geben, dann sollten das LHSP-Investoren auch wissen - also bitte mit veröffentlichen, sagen, weitersagen, bekanntmachen etc........
Gruß Milkman
also da bin ich ja enttäuscht, dass ihr nicht den LHSP-MSFT-Übersetzer im Internet nehmt !!!!!!!!!
Also: alle Favoriten-Links dahingehend ändern, ansonsten geht ihr in 10 Jahren immer noch arbeiten. *lol*
http://officeupdate.lhsl.com
Ach und noch was: Seid ihr (SMS-User) es nicht auch schon lange leid, eure verflixten max. 140 Zeichen immer per umständlicher Tastatur eingeben zu müssen (wie grausam umständlich - die Technik kommt mir wie graue Urzeit vor)- wie einfach wäre die Eingabe per Sprache - ein kleiner Grund mehr, der LHSP-Zukunft zu vertrauen.
Ach und noch was ganz wichtiges!!!
Habt ihr schon irgendwann einmal in Europa oder in anderen Kontinenten TV-Werbung (oder Radio oder Printmedien) von LHSP gesehen?
Sollte es solche Filmchen, Spots, Anzeigen oder ähnliches geben, dann sollten das LHSP-Investoren auch wissen - also bitte mit veröffentlichen, sagen, weitersagen, bekanntmachen etc........
Gruß Milkman
@Milkman
Nett, daß Du auf den Übersetzer verweist, doch dieser ist nicht eine auf spezialisierte und auf bestimmte Ansprüche zugeschnittene kostenpflichtige Version, sondern nur eine B-Ausgabe!
Das wirst Du sehr schnell merken,und man muß über die Resultate der Übersetzung schon ein bißchen lachen! Also, besser Englisch lernen und selbst versuchen! Ansonsten stimme ich Dir völlig zu!
Nett, daß Du auf den Übersetzer verweist, doch dieser ist nicht eine auf spezialisierte und auf bestimmte Ansprüche zugeschnittene kostenpflichtige Version, sondern nur eine B-Ausgabe!
Das wirst Du sehr schnell merken,und man muß über die Resultate der Übersetzung schon ein bißchen lachen! Also, besser Englisch lernen und selbst versuchen! Ansonsten stimme ich Dir völlig zu!
L&H Releases Dragon NaturallySpeaking Version 5
New Version of L&H Dragon NaturallySpeaking Improves Support for E-mail, Internet and Additional Office Applications; Provides Even Greater Accuracy, and Ease of Use
BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 14, 2000-- Lernout & Hauspie (NASDAQ: LHSP, EASDAQ: LHSP) (L&H) today announced the release of L&H(TM) Dragon NaturallySpeaking® version 5, the newest offering in the full family of L&H(TM) continuous speech recognition products. The new version offers increased accuracy and enhancements such as improved support for e-mail and Internet browsing. These features and others, based on extensive customer feedback, make L&H Dragon NaturallySpeaking version 5 more intuitive and even easier to use.
``By making the product easier to use, expanding the applications that the software supports and increasing its accuracy rates, we`ve created a product that delivers the benefits of speech to a broader range of users than ever before,`` said Bill DeStefanis, senior director of product management, L&H(TM) Applications Division. ``The L&H Dragon NaturallySpeaking version 5 family, like its predecessors, provide a wide range of features to support a wide variety of users` needs.``
Product Family Features and Benefits
L&H Dragon NaturallySpeaking version 5 includes new and improved features to make it both easier to use and more accurate. Version 5 adds an extensive set of new voice commands to browse the Web and manage email navigation by voice. Popular programs such as Microsoft® Outlook® and Outlook® Express, Qualcomm® Eudora®, Netscape® Messenger and AOL® can all be controlled with your voice. New commands such as ``Check for New Mail,`` ``Send Email,`` and ``Reply to message`` are supported.
In addition, Version 5 now makes it easier than ever to learn dictation with a new interactive tutorial based on the principles of how adults learn. This tutorial ``walks`` users through the program, teaching basic dictation techniques. While using the tutorial, customers can experiment and test features as they familiarize themselves with dictation and L&H Dragon NaturallySpeaking.
Many of the new features in version 5 are designed to help computer users discover the productivity benefits of using speech with their Microsoft® Windows® based applications. For example, the new ``Quick Correct`` feature speeds proofreading and correction. A new Quick Start guide provides step-by-step instructions, quickly moving users from installation to their first dictation. Finally, the ``Add Words from Document`` feature improves accuracy by quickly adding new words to the L&H Dragon NaturallySpeaking vocabulary from existing documents. This feature improves accuracy and customizes Dragon NaturallySpeaking version 5 to each individual user.
All L&H Dragon NaturallySpeaking version 5 products should require as little as five minutes of voice training and allow users to dictate and use voice commands in virtually any Microsoft® Windows®-compatible application. Voice commands are readily available with helpful on-screen and off screen reminders. The Preferred edition of L&H Dragon NaturallySpeaking version 5 also offers dictation shortcuts, allowing users to insert multiple lines of text with only a few words. The Preferred edition also features expanded support for Mobile recorders, including Sony® (ADR: SNE), Olympus®, and VoiceIt® brand recorder. For a complete list of approved recorders, please view our compatibility list at http://www.dragonsys.com/support/.
L&H Dragon NaturallySpeaking version 5 family of retail products includes L&H Dragon NaturallySpeaking Essentials, L&H Dragon NaturallySpeaking Standard, L&H Dragon NaturallySpeaking Preferred and L&H Dragon NaturallySpeaking Preferred USB. These new additions to the L&H family of products build upon the already outstanding accuracy levels available in L&H Dragon NaturallySpeaking version 4.
Pricing, System Requirements and Availability
L&H Dragon NaturallySpeaking version 5 supports Windows® 98, 2000, Millennium, or Windows NT® 4.0 (with SP-6 or greater) operating systems. Version 5 requires a 266 MHz processor or equivalent; at least 64 MB RAM is required. A minimum of 150 MB free disk space is needed for installation. A Dragon Systems® certified sound card, CD-ROM and speakers are also required. (Visit our Web site at www.lhsl.com or www.dragonsys.com for the latest hardware compatibility list.)
L&H Dragon NaturallySpeaking has been optimized for a variety of popular processors, including the Intel® Pentium® III, Intel® Pentium® II, Intel® Pentium® with MMX(TM), Intel® Celeron(TM), AMD K6®-2, AMD K6®-III with 3DNow!(TM), AMD Athlon(TM), and more.
The estimated prices of version 5 for L&H Dragon NaturallySpeaking Essentials, L&H Dragon NaturallySpeaking Standard, L&H Dragon NaturallySpeaking Preferred and L&H Dragon NaturallySpeaking Preferred USB are $59.00, $109.00, $199.00 and $249.00, respectively. The products are expected to be available in the coming weeks in over 3,500 retail outlets across the US and Canada. Each product includes software on a CD-ROM, documentation, and a noise-canceling microphone (USB version includes a USB microphone for optimal use with laptop computers).
--------------
Yours digitally
KiKo
New Version of L&H Dragon NaturallySpeaking Improves Support for E-mail, Internet and Additional Office Applications; Provides Even Greater Accuracy, and Ease of Use
BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 14, 2000-- Lernout & Hauspie (NASDAQ: LHSP, EASDAQ: LHSP) (L&H) today announced the release of L&H(TM) Dragon NaturallySpeaking® version 5, the newest offering in the full family of L&H(TM) continuous speech recognition products. The new version offers increased accuracy and enhancements such as improved support for e-mail and Internet browsing. These features and others, based on extensive customer feedback, make L&H Dragon NaturallySpeaking version 5 more intuitive and even easier to use.
``By making the product easier to use, expanding the applications that the software supports and increasing its accuracy rates, we`ve created a product that delivers the benefits of speech to a broader range of users than ever before,`` said Bill DeStefanis, senior director of product management, L&H(TM) Applications Division. ``The L&H Dragon NaturallySpeaking version 5 family, like its predecessors, provide a wide range of features to support a wide variety of users` needs.``
Product Family Features and Benefits
L&H Dragon NaturallySpeaking version 5 includes new and improved features to make it both easier to use and more accurate. Version 5 adds an extensive set of new voice commands to browse the Web and manage email navigation by voice. Popular programs such as Microsoft® Outlook® and Outlook® Express, Qualcomm® Eudora®, Netscape® Messenger and AOL® can all be controlled with your voice. New commands such as ``Check for New Mail,`` ``Send Email,`` and ``Reply to message`` are supported.
In addition, Version 5 now makes it easier than ever to learn dictation with a new interactive tutorial based on the principles of how adults learn. This tutorial ``walks`` users through the program, teaching basic dictation techniques. While using the tutorial, customers can experiment and test features as they familiarize themselves with dictation and L&H Dragon NaturallySpeaking.
Many of the new features in version 5 are designed to help computer users discover the productivity benefits of using speech with their Microsoft® Windows® based applications. For example, the new ``Quick Correct`` feature speeds proofreading and correction. A new Quick Start guide provides step-by-step instructions, quickly moving users from installation to their first dictation. Finally, the ``Add Words from Document`` feature improves accuracy by quickly adding new words to the L&H Dragon NaturallySpeaking vocabulary from existing documents. This feature improves accuracy and customizes Dragon NaturallySpeaking version 5 to each individual user.
All L&H Dragon NaturallySpeaking version 5 products should require as little as five minutes of voice training and allow users to dictate and use voice commands in virtually any Microsoft® Windows®-compatible application. Voice commands are readily available with helpful on-screen and off screen reminders. The Preferred edition of L&H Dragon NaturallySpeaking version 5 also offers dictation shortcuts, allowing users to insert multiple lines of text with only a few words. The Preferred edition also features expanded support for Mobile recorders, including Sony® (ADR: SNE), Olympus®, and VoiceIt® brand recorder. For a complete list of approved recorders, please view our compatibility list at http://www.dragonsys.com/support/.
L&H Dragon NaturallySpeaking version 5 family of retail products includes L&H Dragon NaturallySpeaking Essentials, L&H Dragon NaturallySpeaking Standard, L&H Dragon NaturallySpeaking Preferred and L&H Dragon NaturallySpeaking Preferred USB. These new additions to the L&H family of products build upon the already outstanding accuracy levels available in L&H Dragon NaturallySpeaking version 4.
Pricing, System Requirements and Availability
L&H Dragon NaturallySpeaking version 5 supports Windows® 98, 2000, Millennium, or Windows NT® 4.0 (with SP-6 or greater) operating systems. Version 5 requires a 266 MHz processor or equivalent; at least 64 MB RAM is required. A minimum of 150 MB free disk space is needed for installation. A Dragon Systems® certified sound card, CD-ROM and speakers are also required. (Visit our Web site at www.lhsl.com or www.dragonsys.com for the latest hardware compatibility list.)
L&H Dragon NaturallySpeaking has been optimized for a variety of popular processors, including the Intel® Pentium® III, Intel® Pentium® II, Intel® Pentium® with MMX(TM), Intel® Celeron(TM), AMD K6®-2, AMD K6®-III with 3DNow!(TM), AMD Athlon(TM), and more.
The estimated prices of version 5 for L&H Dragon NaturallySpeaking Essentials, L&H Dragon NaturallySpeaking Standard, L&H Dragon NaturallySpeaking Preferred and L&H Dragon NaturallySpeaking Preferred USB are $59.00, $109.00, $199.00 and $249.00, respectively. The products are expected to be available in the coming weeks in over 3,500 retail outlets across the US and Canada. Each product includes software on a CD-ROM, documentation, and a noise-canceling microphone (USB version includes a USB microphone for optimal use with laptop computers).
--------------
Yours digitally
KiKo
GooD NewS:
Lernout & Hauspie Wins Contract to Localize Microsoft`s Internet-Based Customer Support Databases
BURLINGTON, Mass. & IEPER, Belgium--(BUSINESS WIRE)--Aug. 15, 2000--
Localization Includes More than 20,000 Documents in European and Asian Languages; New L&H Localization Workflow Management System To Be
Deployed in Project
Lernout & Hauspie (NASDAQ:LHSP - news; EASDAQ:LHSP) (L&H(TM)) today announced that Microsoft (Nasdaq: MSFT - news) has awarded its Globalization & Internet Translation group a contract under which L&H will localize into multiple languages Microsoft`s Internet-based knowledge base. The contract is one of many localization and translation projects that L&H has with Microsoft, serving to strengthen and broaden the longstanding relationship between the two companies.
As part of the project L&H will employ new fully Internet-enabled project and workflow management software, ProMIS. The integrated client/server system is accessible to all project participants via the Internet and designed to help project managers and business executives of global service companies more effectively and cost-efficiently run projects. ProMIS provides continuous information that helps customers, project managers and service professionals track and manage project resources, events and finances. By using the system both L&H and Microsoft will constantly have up to date information regarding status of the multi-faceted localization project.
The contract localizes approximately 20,000 English-language documents contained in Microsoft`s Internet-based customer support knowledge base into a wide range of European and Asian languages. Microsoft Product Support Services (PSS) Group`s customer support knowledge base--supports all Microsoft products ranging from games (like Flight Simulator) to corporate servers (like Exchange).
``The size and complexity of this project underscores the breadth of our resources and technologies and our unparalleled expertise as well as the confidence that Microsoft has in those abilities,`` said Florita Mendez, president of L&H`s Globalization and Internet Translation business group. ``By using our new ProMIS project and workflow management system we can provide even greater levels of customer communication and satisfaction and further enhance what is already a strong, well-established relationship with Microsoft.``
L&H has successfully localized many Microsoft products, such as Windows 2000, Office, the Internet Information Server, Encarta, MSN, Microsoft Works and Microsoft Money, Microsoft selected L&H because of their experience with product localization on larger projects, its efficient workflow management tools like ProMIS and its reliability on delivery and account management.
By applying L&H`s localization expertise, Microsoft`s internet based customer support knowledge base will be enhanced to provide their global customers with access to localized documents regardless of where they are based or what language they speak.
-------------
Yours digitally
KiKo
Lernout & Hauspie Wins Contract to Localize Microsoft`s Internet-Based Customer Support Databases
BURLINGTON, Mass. & IEPER, Belgium--(BUSINESS WIRE)--Aug. 15, 2000--
Localization Includes More than 20,000 Documents in European and Asian Languages; New L&H Localization Workflow Management System To Be
Deployed in Project
Lernout & Hauspie (NASDAQ:LHSP - news; EASDAQ:LHSP) (L&H(TM)) today announced that Microsoft (Nasdaq: MSFT - news) has awarded its Globalization & Internet Translation group a contract under which L&H will localize into multiple languages Microsoft`s Internet-based knowledge base. The contract is one of many localization and translation projects that L&H has with Microsoft, serving to strengthen and broaden the longstanding relationship between the two companies.
As part of the project L&H will employ new fully Internet-enabled project and workflow management software, ProMIS. The integrated client/server system is accessible to all project participants via the Internet and designed to help project managers and business executives of global service companies more effectively and cost-efficiently run projects. ProMIS provides continuous information that helps customers, project managers and service professionals track and manage project resources, events and finances. By using the system both L&H and Microsoft will constantly have up to date information regarding status of the multi-faceted localization project.
The contract localizes approximately 20,000 English-language documents contained in Microsoft`s Internet-based customer support knowledge base into a wide range of European and Asian languages. Microsoft Product Support Services (PSS) Group`s customer support knowledge base--supports all Microsoft products ranging from games (like Flight Simulator) to corporate servers (like Exchange).
``The size and complexity of this project underscores the breadth of our resources and technologies and our unparalleled expertise as well as the confidence that Microsoft has in those abilities,`` said Florita Mendez, president of L&H`s Globalization and Internet Translation business group. ``By using our new ProMIS project and workflow management system we can provide even greater levels of customer communication and satisfaction and further enhance what is already a strong, well-established relationship with Microsoft.``
L&H has successfully localized many Microsoft products, such as Windows 2000, Office, the Internet Information Server, Encarta, MSN, Microsoft Works and Microsoft Money, Microsoft selected L&H because of their experience with product localization on larger projects, its efficient workflow management tools like ProMIS and its reliability on delivery and account management.
By applying L&H`s localization expertise, Microsoft`s internet based customer support knowledge base will be enhanced to provide their global customers with access to localized documents regardless of where they are based or what language they speak.
-------------
Yours digitally
KiKo
Interessant:
------------------
In defense of Lernout & Hauspie
Shareholders lend LHSP their cybersupport
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 4:01 PM ET Aug 16, 2000 NewsWatch
Latest headlines
SAN FRANCISCO (CBS.MW) -- With their stock lost in a spin cycle of accounting concerns, mounting class-action lawsuits and less-than-perky media coverage, Lernout & Hauspie longs have endured a rough summer.
The speech-recognition acquisition machine that lit up the Nasdaq earlier this year has, indeed, fallen on hard times. Once proudly trading over $70 a share, LHSP has disintegrated more than 50 percent ... leaving shareholders dazed and confused.
But, over on The Motley Fool, cooler heads prevailed. DieterH garnered an impressive handful of recommendations with his scathing media critique. Here`s just a small sampling of the post: "At times like these, staying invested in a company like this does take some faith, because, as has so ably been demonstrated, it is easy to construe a very negative picture without much in the way of facts at all.
"Only time will tell what the real facts are. But based on how I`ve seen this company execute, where this industry is going, and L&H`s dominant position, I`m confident that in a few years we`ll look back at the summer of 2000 as just another hiccup on the way to excellent returns."
Mr.Microphone took the bullishness one step further: "There is something that excites me about all of this hullabaloo. It`s hard to see one`s investment cut in half, but it`s also fun to think that one day, when we look back, we`ll see this period as the time that we went through the mire, only to have risen gloriously like the phoenix. It really is an adventure, and that`s what makes it fun.
"This is the swamp, the part where we have to fight off evil monsters ... and keep our eyes on the path ahead -- the steady climb toward spectacular sales and earnings growth. Maybe, just maybe, these trials will make them stronger and better."
And while the short-selling vultures were in circling formation, Hochizon offered up this quirky retort to the snowballing criticism: "Lets recap here: LHSP has hired an independent firm to do the audit. The firm must be independent, or the shorts will claim the audit is fraudulent. LHSP denied the article the day it came out. LHSP has had great news about some pretty big deals (oh ... but the U.S. Army never really spends much money ... right). I fail to see what LHSP could have done better, or different, over the last couple weeks.
"What is interesting here is that far as I can tell ... no one is saying that Dragon was a bad purchase ... that the technology of LHSP sucks ... that voice recognition won`t be a major growth area ... that LHSP is not the leader in that area ... that the competitors of LHSP are better. So to my bearish, short and trollish brethren, I sa y...
" `Tis time to cover the shorts, me buckos. The stock has been pounded, and yer efforts are rewarded. Now, take the profits ... because the audit won`t show any major problems, and you are running out of areas to dog the stock on (LOOK OUT, LOOK OUT, LHSP OVERSTATED ITS CUSTOMER BASE IN THE ALEUTIAN ISLANDS) ... so cover the shorts, and turn your wet and hungry gaze to another target."
Well, there`s no denying it, the shorts have certainly had their fun, but will they continue to reap the rewards of a southbound stock?
One thing is certain: Their bearish stance will be substantially weakened should KPMG`s audit prove Lernout & Hauspie (LHSP: news, msgs) innocent of cooking the books on Korea`s sales figures.
And that`s just what many of the bulls are banking on.
---------
Yours digitally
KiKo
------------------
In defense of Lernout & Hauspie
Shareholders lend LHSP their cybersupport
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 4:01 PM ET Aug 16, 2000 NewsWatch
Latest headlines
SAN FRANCISCO (CBS.MW) -- With their stock lost in a spin cycle of accounting concerns, mounting class-action lawsuits and less-than-perky media coverage, Lernout & Hauspie longs have endured a rough summer.
The speech-recognition acquisition machine that lit up the Nasdaq earlier this year has, indeed, fallen on hard times. Once proudly trading over $70 a share, LHSP has disintegrated more than 50 percent ... leaving shareholders dazed and confused.
But, over on The Motley Fool, cooler heads prevailed. DieterH garnered an impressive handful of recommendations with his scathing media critique. Here`s just a small sampling of the post: "At times like these, staying invested in a company like this does take some faith, because, as has so ably been demonstrated, it is easy to construe a very negative picture without much in the way of facts at all.
"Only time will tell what the real facts are. But based on how I`ve seen this company execute, where this industry is going, and L&H`s dominant position, I`m confident that in a few years we`ll look back at the summer of 2000 as just another hiccup on the way to excellent returns."
Mr.Microphone took the bullishness one step further: "There is something that excites me about all of this hullabaloo. It`s hard to see one`s investment cut in half, but it`s also fun to think that one day, when we look back, we`ll see this period as the time that we went through the mire, only to have risen gloriously like the phoenix. It really is an adventure, and that`s what makes it fun.
"This is the swamp, the part where we have to fight off evil monsters ... and keep our eyes on the path ahead -- the steady climb toward spectacular sales and earnings growth. Maybe, just maybe, these trials will make them stronger and better."
And while the short-selling vultures were in circling formation, Hochizon offered up this quirky retort to the snowballing criticism: "Lets recap here: LHSP has hired an independent firm to do the audit. The firm must be independent, or the shorts will claim the audit is fraudulent. LHSP denied the article the day it came out. LHSP has had great news about some pretty big deals (oh ... but the U.S. Army never really spends much money ... right). I fail to see what LHSP could have done better, or different, over the last couple weeks.
"What is interesting here is that far as I can tell ... no one is saying that Dragon was a bad purchase ... that the technology of LHSP sucks ... that voice recognition won`t be a major growth area ... that LHSP is not the leader in that area ... that the competitors of LHSP are better. So to my bearish, short and trollish brethren, I sa y...
" `Tis time to cover the shorts, me buckos. The stock has been pounded, and yer efforts are rewarded. Now, take the profits ... because the audit won`t show any major problems, and you are running out of areas to dog the stock on (LOOK OUT, LOOK OUT, LHSP OVERSTATED ITS CUSTOMER BASE IN THE ALEUTIAN ISLANDS) ... so cover the shorts, and turn your wet and hungry gaze to another target."
Well, there`s no denying it, the shorts have certainly had their fun, but will they continue to reap the rewards of a southbound stock?
One thing is certain: Their bearish stance will be substantially weakened should KPMG`s audit prove Lernout & Hauspie (LHSP: news, msgs) innocent of cooking the books on Korea`s sales figures.
And that`s just what many of the bulls are banking on.
---------
Yours digitally
KiKo
Ich will jetzt nicht das Board zukopieren, fand dies aber lesenswert:
--------------------------------
I must admit, I really like The Motley Fool. Their emphasis on doing your own homework, on making up your own mind, on not simply taking for gospel anything you see in writing, all that really strikes a cord with me.
Of course, one of the things I like most about the Fool is their mission - Learning Together. This is an important concept, for without learning there is no knowledge and without knowledge we distinguish ourselves from our primate cousins only by being a little less hairy. And from what I`ve seen on these boards, most of us here want to be a lot more than hairless apes, which is where the learning together part comes in. So let`s see what we can learn from TMFOtter`s recent words of wisdom on Lernout & Hauspie and maybe in the process we can help TMFOtter learn a little something, too.
To begin with, I could point out that the first thing TMFOtter might want to learn is how to correctly spell the name of the CEO of the company he so liberally blasts. But that would - probably correctly - be considered petty and since I don`t want to appear petty, I won`t suggest that. We`ll just leave it to TMFOtter`s innate desire to be a little more accurate in his future writing.
But back to the relevant stuff, we`re here to learn together, to analyze objectively the pros and cons of all the news reported about a given company and then to make up our own minds about where to put our money. In that context we must admit that once you are long a stock, the temptation to be less than objective exists. Therefore, it is always good to get an opposing view point. At worst it offers a challenge that makes us reevaluate our position, while at best it can actually offer valuable information. That doesn`t mean we`ll like hearing it, most often we won`t.
So let`s have a look at how valuable, informative and objective TMFOtter`s assessment of L&H is. Excerpts from his comments will be in italics below.
"In particular, the company`s aggressive acquisitions, high percentage of affiliate sales, and relative lack of reporting have made it difficult to make an accurate assessment of the true performance of the company. (Until this year, Lernout & Hauspie had filed only the minimum required by the SEC for foreign companies listed in the U.S., and not in electronic form.)"
The myth of Lernout & Hauspie`s reporting is perpetuated. As an investor looking to gauge where LHSP might go in the future, why would I be interested in what detail L&H did or did not report in the past, if they are practising full disclosure now for all current and past information? And wouldn`t it be helpful if TMFOtter could have backed up the alleged "high percentage of affiliate sales" with some actual numbers?
Aggressive acquisitions make it difficult to assess the true performance of the company? Yes, true, but so what? That`s just as true for Cisco and JDS Uniphase and I`m sure they`ve heard their share of criticism over the years. But the only alternative seems to be to forego growth via acquisitions, which would be silly.
"Korea has traditionally been an extremely difficult market for foreign companies to operate in, most companies achieving success only after many years of relationship building, if at all."
I guess that what TMFOtter is implying here is that if L&Hs reported revenues for Korea are correct then there must be something fishy about them or, worse, those revenues don`t really exist. Does he offer any facts support these implications? None, zero, but then you don`t need any facts to support something that you only implied but didn`t say, do you?
"But skeptical observers have questioned the veracity of Lernout & Hauspie`s Korean sales after the company`s chief executive, Gaston Bastaens, volunteered names and approximate sales numbers for 30 Korean customers."
Correct me if I`m wrong, but I thought the sequence of events was the other way around.
"The company insists the sales numbers in its last quarterly report are accurate. This insistence has done nothing to stem the flood of class action filings on behalf of shareholders. While some law offices seem to file such suits if a CEO has a bad hair day, should Lernout & Hauspie`s numbers turn out to be incorrect, these suits may have some merit and a longer-term impact."
Very misleading and without merit. What constitutes a flood? A handful of law suits? A dozen? Two dozen? Or just two?
If Lernout & Hauspie`s numbers turn out to be incorrect, the law suits and their cost are the last thing we`ll have to worry about. The share price will tank faster than we could yell `sell!`.
"The company`s CEO is not intimately aware of the details of the company`s largest customers in the only market where it is growing?"
Huh? Where did this one come from? Without evidence it`s purely speculative and it`s a huge leap from the fact that L&H as engaged KPMG to audit the situation to the speculation that this implies that the CEO, Gaston Bastiaens, has brought in the auditors to tell him the facts. If he really didn`t know (quite unlikely), wouldn`t it be much simpler for him to simply ask his own people in Korea?
"Even after the acquisition of Dragon, its largest competitor, we find that sales everywhere else are decreasing?"
Where, I wonder, did we find this? We can only find these sort of gems of "reliable" reporting if we take the writings of others sight unseen and don`t bother to check the facts ourselves. Sales are down in Singapore and Belgium, but up in Europe, the U.S. and, of course, Korea. If you take out the $31 million impact from Dragon and Dictaphone, essentially flat in the U.S. but still up quite a bit in Europe (over 40%).
Three Months Ended June 30, ------------------------------ 1999 2000 -------- -------- United States............ $18,691 $ 48,909 Belgium.................. 10,750 8,562 Europe, other............ 18,578 27,342 Singapore................ 25,436 890 Korea.................... 1,124 68,059 Far East, other.......... 1,436 1,144 ------- -------- $76,015 $154,906 ======= ========
http://www.freeedgar.com/search/WL.asp?C=1002131&F=10-Q&D=8/…
In summary, TMFOtter has accurately regurgitated most of the bad press L&H has been getting of late. If that is his job, fine. However, if his job is to actually add some objectivity and analysis to the discussion, then I suggest that he came rather short of the goal, not because he did not exonerate L&H (nobody but L&H management can do that), but because he provided no fresh insights and no objectivity. He had nothing to offer in support of allegations already made elsewhere, but nonetheless proceeded to condemn the company and find them guilty without even analyzing the scant evidence and hearsay that had been proffered by the sources of the original allegations. Nonetheless, I want to thank TMFOtter for adding a little more fuel to an already stimulating discussion.
Whatever happened to innocent until proven guilty? The WSJ makes an accusation, ignores additional information from L&H the company WSJ has accused, then simply says it "stands by its story". It is now left to L&H, the accused, to prove, their innocence, i.e. the accuracy of their reporting. Curious state of affairs, isn`t it?
As individual investors it behooves us to do our own research and make up our own minds. It also behooves us to be wary of whatever `information` is provided by analysts and journalist if it is not substantiated by facts and analyses that we can confirm independently. No matter what its source, an unsubstantiated allegation carries no more truth, no more substance. Keep in mind that whether the allegation comes from Herb Greenberg, the WSJ or somebody at The Motley Fool, without facts and substance to back it up, it is only an allegation.
Thank you, TMFOtter for illustrating this very important aspect of "Learning together".
Having said all that, the simple fact is that we still don`t know whether the WSJ report is true or whether L&H has been accurate in its reporting of client names, or do we? If L&H had been lying, then why bother to invite an independent auditor to come in and review the situation? If they are the lying, cheating bastards that some would have us believe, then the only possible answer is that they are planning to buy a report from KPMG that gives L&H a clean bill of health. Let`s play with that one for a minute, assume that it is LHSP`s intention to pay KPMG to put out a fake report (their only choice if they have been lying). Assume even that KPMG could be bought (my apologies to LHSP and KPMG for the insinuation, remember this is for illustration purposes only). Ignore, for the time being, the question of KPMG`s own desire to be truthful, assume the worst, but remember that last year Cisco decided to invest $1 billion in a strategic alliance with KPMG. Can we really believe that KPMG would risk its entire reputation for the few bucks they would get from L&H for this audit?
So assume the worst, imagine LHSP management as deceitful and misleading, KPMG as an auditor for hire who will write whatever report the paymaster dictates. Then take it a few steps further. If L&H were as deceitful as recent press reports would have you believe, then what would make KPMG believe that they could get away with a fake report? If things at LHSP are as bad as they have been made out to be in some quarters, then KPMG would have to assume that the truth would come out sooner rather than later. Knowing that, would they risk their reputation and risk seeing lucrative opportunities like the $1billion alliance with Cisco disappear faster than you can say fraud? Not in this life. If we can figure this one out, don`t you think that L&H management - scheming and manipulative as they allegedly are - would have to come to the same conclusion? And if they have to inevitably come to this conclusion, why bother hiring KPMG in the first place? All it could possibly buy them is a few days or weeks at best.
That allows only one conclusion, L&H management is confident in the accuracy of their statements and is intent on proving it beyond a doubt.
At times like these staying invested in a company like this does take some faith, because as has so ably been demonstrated, most recently by TMFOtter, it is easy to construe a very negative picture without much in the way of facts at all. Only time will tell, what the real facts are. But based on how I`ve seen this company execute and based on where this industry is going and L&Hs dominant position, I`m confident that in a few years we`ll look back at the summer of 2000 as just another hickup on the way to excellent returns. But take that for what it is, just my opinion.
Dieter
---------------
Yours digitally
KiKo
--------------------------------
I must admit, I really like The Motley Fool. Their emphasis on doing your own homework, on making up your own mind, on not simply taking for gospel anything you see in writing, all that really strikes a cord with me.
Of course, one of the things I like most about the Fool is their mission - Learning Together. This is an important concept, for without learning there is no knowledge and without knowledge we distinguish ourselves from our primate cousins only by being a little less hairy. And from what I`ve seen on these boards, most of us here want to be a lot more than hairless apes, which is where the learning together part comes in. So let`s see what we can learn from TMFOtter`s recent words of wisdom on Lernout & Hauspie and maybe in the process we can help TMFOtter learn a little something, too.
To begin with, I could point out that the first thing TMFOtter might want to learn is how to correctly spell the name of the CEO of the company he so liberally blasts. But that would - probably correctly - be considered petty and since I don`t want to appear petty, I won`t suggest that. We`ll just leave it to TMFOtter`s innate desire to be a little more accurate in his future writing.
But back to the relevant stuff, we`re here to learn together, to analyze objectively the pros and cons of all the news reported about a given company and then to make up our own minds about where to put our money. In that context we must admit that once you are long a stock, the temptation to be less than objective exists. Therefore, it is always good to get an opposing view point. At worst it offers a challenge that makes us reevaluate our position, while at best it can actually offer valuable information. That doesn`t mean we`ll like hearing it, most often we won`t.
So let`s have a look at how valuable, informative and objective TMFOtter`s assessment of L&H is. Excerpts from his comments will be in italics below.
"In particular, the company`s aggressive acquisitions, high percentage of affiliate sales, and relative lack of reporting have made it difficult to make an accurate assessment of the true performance of the company. (Until this year, Lernout & Hauspie had filed only the minimum required by the SEC for foreign companies listed in the U.S., and not in electronic form.)"
The myth of Lernout & Hauspie`s reporting is perpetuated. As an investor looking to gauge where LHSP might go in the future, why would I be interested in what detail L&H did or did not report in the past, if they are practising full disclosure now for all current and past information? And wouldn`t it be helpful if TMFOtter could have backed up the alleged "high percentage of affiliate sales" with some actual numbers?
Aggressive acquisitions make it difficult to assess the true performance of the company? Yes, true, but so what? That`s just as true for Cisco and JDS Uniphase and I`m sure they`ve heard their share of criticism over the years. But the only alternative seems to be to forego growth via acquisitions, which would be silly.
"Korea has traditionally been an extremely difficult market for foreign companies to operate in, most companies achieving success only after many years of relationship building, if at all."
I guess that what TMFOtter is implying here is that if L&Hs reported revenues for Korea are correct then there must be something fishy about them or, worse, those revenues don`t really exist. Does he offer any facts support these implications? None, zero, but then you don`t need any facts to support something that you only implied but didn`t say, do you?
"But skeptical observers have questioned the veracity of Lernout & Hauspie`s Korean sales after the company`s chief executive, Gaston Bastaens, volunteered names and approximate sales numbers for 30 Korean customers."
Correct me if I`m wrong, but I thought the sequence of events was the other way around.
"The company insists the sales numbers in its last quarterly report are accurate. This insistence has done nothing to stem the flood of class action filings on behalf of shareholders. While some law offices seem to file such suits if a CEO has a bad hair day, should Lernout & Hauspie`s numbers turn out to be incorrect, these suits may have some merit and a longer-term impact."
Very misleading and without merit. What constitutes a flood? A handful of law suits? A dozen? Two dozen? Or just two?
If Lernout & Hauspie`s numbers turn out to be incorrect, the law suits and their cost are the last thing we`ll have to worry about. The share price will tank faster than we could yell `sell!`.
"The company`s CEO is not intimately aware of the details of the company`s largest customers in the only market where it is growing?"
Huh? Where did this one come from? Without evidence it`s purely speculative and it`s a huge leap from the fact that L&H as engaged KPMG to audit the situation to the speculation that this implies that the CEO, Gaston Bastiaens, has brought in the auditors to tell him the facts. If he really didn`t know (quite unlikely), wouldn`t it be much simpler for him to simply ask his own people in Korea?
"Even after the acquisition of Dragon, its largest competitor, we find that sales everywhere else are decreasing?"
Where, I wonder, did we find this? We can only find these sort of gems of "reliable" reporting if we take the writings of others sight unseen and don`t bother to check the facts ourselves. Sales are down in Singapore and Belgium, but up in Europe, the U.S. and, of course, Korea. If you take out the $31 million impact from Dragon and Dictaphone, essentially flat in the U.S. but still up quite a bit in Europe (over 40%).
Three Months Ended June 30, ------------------------------ 1999 2000 -------- -------- United States............ $18,691 $ 48,909 Belgium.................. 10,750 8,562 Europe, other............ 18,578 27,342 Singapore................ 25,436 890 Korea.................... 1,124 68,059 Far East, other.......... 1,436 1,144 ------- -------- $76,015 $154,906 ======= ========
http://www.freeedgar.com/search/WL.asp?C=1002131&F=10-Q&D=8/…
In summary, TMFOtter has accurately regurgitated most of the bad press L&H has been getting of late. If that is his job, fine. However, if his job is to actually add some objectivity and analysis to the discussion, then I suggest that he came rather short of the goal, not because he did not exonerate L&H (nobody but L&H management can do that), but because he provided no fresh insights and no objectivity. He had nothing to offer in support of allegations already made elsewhere, but nonetheless proceeded to condemn the company and find them guilty without even analyzing the scant evidence and hearsay that had been proffered by the sources of the original allegations. Nonetheless, I want to thank TMFOtter for adding a little more fuel to an already stimulating discussion.
Whatever happened to innocent until proven guilty? The WSJ makes an accusation, ignores additional information from L&H the company WSJ has accused, then simply says it "stands by its story". It is now left to L&H, the accused, to prove, their innocence, i.e. the accuracy of their reporting. Curious state of affairs, isn`t it?
As individual investors it behooves us to do our own research and make up our own minds. It also behooves us to be wary of whatever `information` is provided by analysts and journalist if it is not substantiated by facts and analyses that we can confirm independently. No matter what its source, an unsubstantiated allegation carries no more truth, no more substance. Keep in mind that whether the allegation comes from Herb Greenberg, the WSJ or somebody at The Motley Fool, without facts and substance to back it up, it is only an allegation.
Thank you, TMFOtter for illustrating this very important aspect of "Learning together".
Having said all that, the simple fact is that we still don`t know whether the WSJ report is true or whether L&H has been accurate in its reporting of client names, or do we? If L&H had been lying, then why bother to invite an independent auditor to come in and review the situation? If they are the lying, cheating bastards that some would have us believe, then the only possible answer is that they are planning to buy a report from KPMG that gives L&H a clean bill of health. Let`s play with that one for a minute, assume that it is LHSP`s intention to pay KPMG to put out a fake report (their only choice if they have been lying). Assume even that KPMG could be bought (my apologies to LHSP and KPMG for the insinuation, remember this is for illustration purposes only). Ignore, for the time being, the question of KPMG`s own desire to be truthful, assume the worst, but remember that last year Cisco decided to invest $1 billion in a strategic alliance with KPMG. Can we really believe that KPMG would risk its entire reputation for the few bucks they would get from L&H for this audit?
So assume the worst, imagine LHSP management as deceitful and misleading, KPMG as an auditor for hire who will write whatever report the paymaster dictates. Then take it a few steps further. If L&H were as deceitful as recent press reports would have you believe, then what would make KPMG believe that they could get away with a fake report? If things at LHSP are as bad as they have been made out to be in some quarters, then KPMG would have to assume that the truth would come out sooner rather than later. Knowing that, would they risk their reputation and risk seeing lucrative opportunities like the $1billion alliance with Cisco disappear faster than you can say fraud? Not in this life. If we can figure this one out, don`t you think that L&H management - scheming and manipulative as they allegedly are - would have to come to the same conclusion? And if they have to inevitably come to this conclusion, why bother hiring KPMG in the first place? All it could possibly buy them is a few days or weeks at best.
That allows only one conclusion, L&H management is confident in the accuracy of their statements and is intent on proving it beyond a doubt.
At times like these staying invested in a company like this does take some faith, because as has so ably been demonstrated, most recently by TMFOtter, it is easy to construe a very negative picture without much in the way of facts at all. Only time will tell, what the real facts are. But based on how I`ve seen this company execute and based on where this industry is going and L&Hs dominant position, I`m confident that in a few years we`ll look back at the summer of 2000 as just another hickup on the way to excellent returns. But take that for what it is, just my opinion.
Dieter
---------------
Yours digitally
KiKo
@KiKo
Mit solchen Artikeln kopierst Du hier bestimmt nichts zu, denn sie entsprechen dem, was die meisten denken oder hoffen!(Meine Meinung). Nach der Prüfung wird sich hoffentlich genau das herausstellen!
Wenn dem so sein sollte , ist das noch ein Grund mehr, den so genannten offiziellen Aktienpropagandisten mit gehöriger Skepsis zu begegnen!!!!!!!!
Mit solchen Artikeln kopierst Du hier bestimmt nichts zu, denn sie entsprechen dem, was die meisten denken oder hoffen!(Meine Meinung). Nach der Prüfung wird sich hoffentlich genau das herausstellen!
Wenn dem so sein sollte , ist das noch ein Grund mehr, den so genannten offiziellen Aktienpropagandisten mit gehöriger Skepsis zu begegnen!!!!!!!!
Bitte neuen Thread eröffnen. Das Laden dauert so lange und nervt.
Bin ein treuer LHSPler (seit über 2 Jahren alle Höhen und Tiefen mitgemacht und immer noch voller Hoffnung)
Bin ein treuer LHSPler (seit über 2 Jahren alle Höhen und Tiefen mitgemacht und immer noch voller Hoffnung)
Laden geht recht schnell, wenn ihr als Suchwort <kiko> oder <Lernout> eingebt und dann den weissen Zettel anklickt. So werden nur die letzten 20 Postings geszeigt, das neueste zuoberst.
Wenn noch mehr der Meinung sind, fange ich nat. einen neuen Thread an. Wollte so bis mind. 100 warten, da der dritte Teil noch nicht so alt ist.
Yours digitally
KiKo
Wenn noch mehr der Meinung sind, fange ich nat. einen neuen Thread an. Wollte so bis mind. 100 warten, da der dritte Teil noch nicht so alt ist.
Yours digitally
KiKo
Ichs sehe es positiv (sollten sich die Vorwürfe verschlagen). Potential bis mind. 55$ Lest selbst:
--------------------------------
Lernout & Hauspie : Sprache verschlagen!
18.08.2000
Schwer unter die Räder gekommen ist die Aktie des belgischen Herstellers und weltweiten Markführers für Spracherkennungs- und Übersetzungssoftware Lernout & Hauspie Speech Products. Von ihrem Top bei 72,5 USD im März verlor die Aktie über 50% und notiert nun bei 35 USD. Grund dafür waren unter anderem Spekulationen über falsche Angaben zu Kunden in ihrem letzten Geschäftsbericht und darauffolgende Klagen amerikanischer Anteilseigner.
Die Vision
Die belgische Lernout & Hauspie wurde 1987 von Jo Lernout und Pol Hauspie gegründet. Ihr Geschäft ist die Entwicklung und Anwendung computergestützter Spracherkennungs- und Übersetzungstechnologien. Das Unternehmen bietet Lösungen in den Feldern automatisches Diktieren, Übersetzung, Klangkomprimierung, Sprachsynthese und industrielle Dokumentation für die gewerbliche und private Nutzung an. Vision der Firmengründer ist es, eine Brücke zwischen Mensch und Computer zu schlagen. Künftig sollen Computer, Autos und Häuser dem Menschen aufs Wort gehorchen. An diesem Ziel arbeiten bei L&H 1.750 Mitarbeiter in über vierzig Ländern rund um den Globus.
Die Realität
Die Produkte von L&H basieren auf vier Kerntechnologien: Erstens die automatische Spracherkennung (ASR), die sprecherunabhängig natürlich und fließend gesprochene Sprache erkennen kann, zweitens das Text-to-Speech (TTS), das jeden Text vom Computer in natürlich klingende Sprache umwandelt, drittens Speech & Music Coding (SMC) für digitale Sprachkompression und viertens maschinelle Übersetzungsanwendungen (MT) von einer Sprache in eine andere.
Anwendungsgebiete für diese Technologien sind z.B. professionelle Spracheingabesysteme in der Pathologie, Notaufnahme, Radiologie und Kardiologie, aber auch im privaten Bereich. Weiterhin stellt L&H Übersetzungssoftware für die private und geschäftliche Nutzung her. Einen hohen Stellenwert haben L&H-Produkte in der industriellen Anwendung. Hier versucht man, Produkte zu schaffen, die menschliche Sprache verstehen, Dokumente vorlesen oder auf gesprochene Anweisungen reagieren.
Ziel aller Anwendungen ist es, die Bedienung von Maschinen und Computern zu vereinfachen. Der Mensch soll sich zukünftig nicht an seinen digitalen Freund anpassen, sondern umgekehrt. Man erhofft sich durch die vereinfachte Bedienung von Maschinen und Computern ein riesiges Geschäftspotential. Nicht umsonst hält Microsoft 7% von L&H. Nach Aussage von Bill Gates ist Sprache die Zukunft des Computers. Weiterer Großaktionär ist Intel denen 3,5% des Unternehmens gehört.
Nach Ansicht vieler Experten steckt die Technologie jedoch noch in den Kinderschuhen, da die Fehlerquote bei der Spracherkennung einfach noch zu hoch ist. Sollte aber in der Sprachtechnologie der Durchbruch gelingen, steht L&H durch die Vielzahl der Anwendungsmöglichkeiten ein schier astronomisches Umsatz- und Wachstumspotential offen.
Zahlen, Daten, Fakten
L&H erwirtschaftete im ersten Halbjahr 2000 einen Umsatz von 265,6 Mio. USD, was eine Steigerung von 81% gegenüber 1999 bedeutet. Während im 1. Halbjahr 1999 noch ein beachtlicher Nettogewinn von 20,6 Mio. USD ausgewiesen werden konnte, wird die 2000er Bilanz durch einen Verlust von 17,2 Mio. USD belastet. Grund dafür waren Goodwill-Abschreibungen in Höhe von 35,5 Mio. USD für die erst kürzlich übernommenen Unternehmen Dictaphone und Dragon.
Mit diesen Übernahmen ist L&H zum wichtigsten Player im Bereich der Sprachtechnologien geworden. Dragons Spracherkennungssystem Dragon Naturally Speaking ist eines der weltweit bekanntesten und findet Anwendung im Bereich der Medizintechnik und in Produkten für private Anwender. Weiterhin beschäftigt sich Dragon mit den Sprachen Japanisch, Italienisch und Spanisch, wo bei L&H noch Lücken existieren. Mit dem Kauf von Dragon übernahm L&H darüber hinaus 170 hochqualifizierte Entwickler und Spracherkennungs-Wissenschaftler. Kunden von Dragon sind u.a. Boeing, Citibank, Compaq, Deutsche Bank, Fujitsu, Peugeot und Sony. Dragon erwirtschaftete 1999 bei einem Umsatz von 61 Mio. USD einen Verlust von 22 Mio. USD.
Dictaphone hingegen arbeitet bereits profitabel. Bei einem Umsatz von 350 Mio. USD betrug der EBIT in 1999 30 Mio. USD. Als Hersteller analoger Diktiergeräte gestartet, gehört Dictaphone mittlerweile zu den führenden Anbietern von Diktiersystemen und Aufzeichnungslösungen für Call Center. Mit der Akquisition will L&H sowohl im Bereich medizinischer Diktiersysteme als auch auf dem Telekommunikationsmarkt sein Produktionsprogramm aufbauen und darüber hinaus seinen Kundenstamm um rd. 5.000 Kunden erweitern.
Für das laufende Jahr kann mit einem Umsatz von 700 Mio. USD gerechnet werden. Dieser soll im nächsten Jahr auf 1,2 Mrd. USD gesteigert werden. Die Schätzungen für den Gewinn je Aktie liegen bei 0,58 USD in diesem und 1,18 USD im nächsten Jahr. Das KGV liegt bei knapp 30 auf Basis der 2001er Gewinne. Bei einem durchschnittlichen Gewinnwachstum von rund 47% (CAGR 02-04) ergibt sich ein theoretisches Kurspotential bis ca. 55 USD, was auf Basis des momentanen Kurses über 57% Kurschance bedeutet.
Fader Beigeschmack
Dennoch ist die Aktie z. Zt. mit Vorsicht zu genießen. Mitte August wurde in den USA eine Klage gegen L&H eingereicht, in der der Gesellschaft vorgeworfen wird, in ihrem letzten Quartalsbericht falsche Angaben über koreanische Kunden gemacht zu haben. Angeblich wurden Geschäftsbeziehungen und Umsätze dazuphantasiert. Als die Vorwürfe zum ersten mal im Wall Street Journal publiziert wurden, brach der Kurs um 25% ein. Vom Vorstand wurden diese Gerüchte umgehend dementiert. Zwar hat sich die Aktie seit ihrem Tiefststand von 26,75 USD bisher recht gut erholt, Anleger sollten sie jedoch momentan untergewichten, bis das Gerichtsverfahren beendet ist. Sollten sich die Vorwürfe bestätigen, wird es zu weiteren Kurseinbrüchen kommen. Anderenfalls wird sich die Aktie aufgrund der guten Fundamentaldaten rasch erholen. Performaxx wird Sie über die aktuellen Entwicklungen auf dem Laufenden halten.
Jaroslaw Gabor
---------------------
Quelle: performaxx
Yours digitally
KiKo
--------------------------------
Lernout & Hauspie : Sprache verschlagen!
18.08.2000
Schwer unter die Räder gekommen ist die Aktie des belgischen Herstellers und weltweiten Markführers für Spracherkennungs- und Übersetzungssoftware Lernout & Hauspie Speech Products. Von ihrem Top bei 72,5 USD im März verlor die Aktie über 50% und notiert nun bei 35 USD. Grund dafür waren unter anderem Spekulationen über falsche Angaben zu Kunden in ihrem letzten Geschäftsbericht und darauffolgende Klagen amerikanischer Anteilseigner.
Die Vision
Die belgische Lernout & Hauspie wurde 1987 von Jo Lernout und Pol Hauspie gegründet. Ihr Geschäft ist die Entwicklung und Anwendung computergestützter Spracherkennungs- und Übersetzungstechnologien. Das Unternehmen bietet Lösungen in den Feldern automatisches Diktieren, Übersetzung, Klangkomprimierung, Sprachsynthese und industrielle Dokumentation für die gewerbliche und private Nutzung an. Vision der Firmengründer ist es, eine Brücke zwischen Mensch und Computer zu schlagen. Künftig sollen Computer, Autos und Häuser dem Menschen aufs Wort gehorchen. An diesem Ziel arbeiten bei L&H 1.750 Mitarbeiter in über vierzig Ländern rund um den Globus.
Die Realität
Die Produkte von L&H basieren auf vier Kerntechnologien: Erstens die automatische Spracherkennung (ASR), die sprecherunabhängig natürlich und fließend gesprochene Sprache erkennen kann, zweitens das Text-to-Speech (TTS), das jeden Text vom Computer in natürlich klingende Sprache umwandelt, drittens Speech & Music Coding (SMC) für digitale Sprachkompression und viertens maschinelle Übersetzungsanwendungen (MT) von einer Sprache in eine andere.
Anwendungsgebiete für diese Technologien sind z.B. professionelle Spracheingabesysteme in der Pathologie, Notaufnahme, Radiologie und Kardiologie, aber auch im privaten Bereich. Weiterhin stellt L&H Übersetzungssoftware für die private und geschäftliche Nutzung her. Einen hohen Stellenwert haben L&H-Produkte in der industriellen Anwendung. Hier versucht man, Produkte zu schaffen, die menschliche Sprache verstehen, Dokumente vorlesen oder auf gesprochene Anweisungen reagieren.
Ziel aller Anwendungen ist es, die Bedienung von Maschinen und Computern zu vereinfachen. Der Mensch soll sich zukünftig nicht an seinen digitalen Freund anpassen, sondern umgekehrt. Man erhofft sich durch die vereinfachte Bedienung von Maschinen und Computern ein riesiges Geschäftspotential. Nicht umsonst hält Microsoft 7% von L&H. Nach Aussage von Bill Gates ist Sprache die Zukunft des Computers. Weiterer Großaktionär ist Intel denen 3,5% des Unternehmens gehört.
Nach Ansicht vieler Experten steckt die Technologie jedoch noch in den Kinderschuhen, da die Fehlerquote bei der Spracherkennung einfach noch zu hoch ist. Sollte aber in der Sprachtechnologie der Durchbruch gelingen, steht L&H durch die Vielzahl der Anwendungsmöglichkeiten ein schier astronomisches Umsatz- und Wachstumspotential offen.
Zahlen, Daten, Fakten
L&H erwirtschaftete im ersten Halbjahr 2000 einen Umsatz von 265,6 Mio. USD, was eine Steigerung von 81% gegenüber 1999 bedeutet. Während im 1. Halbjahr 1999 noch ein beachtlicher Nettogewinn von 20,6 Mio. USD ausgewiesen werden konnte, wird die 2000er Bilanz durch einen Verlust von 17,2 Mio. USD belastet. Grund dafür waren Goodwill-Abschreibungen in Höhe von 35,5 Mio. USD für die erst kürzlich übernommenen Unternehmen Dictaphone und Dragon.
Mit diesen Übernahmen ist L&H zum wichtigsten Player im Bereich der Sprachtechnologien geworden. Dragons Spracherkennungssystem Dragon Naturally Speaking ist eines der weltweit bekanntesten und findet Anwendung im Bereich der Medizintechnik und in Produkten für private Anwender. Weiterhin beschäftigt sich Dragon mit den Sprachen Japanisch, Italienisch und Spanisch, wo bei L&H noch Lücken existieren. Mit dem Kauf von Dragon übernahm L&H darüber hinaus 170 hochqualifizierte Entwickler und Spracherkennungs-Wissenschaftler. Kunden von Dragon sind u.a. Boeing, Citibank, Compaq, Deutsche Bank, Fujitsu, Peugeot und Sony. Dragon erwirtschaftete 1999 bei einem Umsatz von 61 Mio. USD einen Verlust von 22 Mio. USD.
Dictaphone hingegen arbeitet bereits profitabel. Bei einem Umsatz von 350 Mio. USD betrug der EBIT in 1999 30 Mio. USD. Als Hersteller analoger Diktiergeräte gestartet, gehört Dictaphone mittlerweile zu den führenden Anbietern von Diktiersystemen und Aufzeichnungslösungen für Call Center. Mit der Akquisition will L&H sowohl im Bereich medizinischer Diktiersysteme als auch auf dem Telekommunikationsmarkt sein Produktionsprogramm aufbauen und darüber hinaus seinen Kundenstamm um rd. 5.000 Kunden erweitern.
Für das laufende Jahr kann mit einem Umsatz von 700 Mio. USD gerechnet werden. Dieser soll im nächsten Jahr auf 1,2 Mrd. USD gesteigert werden. Die Schätzungen für den Gewinn je Aktie liegen bei 0,58 USD in diesem und 1,18 USD im nächsten Jahr. Das KGV liegt bei knapp 30 auf Basis der 2001er Gewinne. Bei einem durchschnittlichen Gewinnwachstum von rund 47% (CAGR 02-04) ergibt sich ein theoretisches Kurspotential bis ca. 55 USD, was auf Basis des momentanen Kurses über 57% Kurschance bedeutet.
Fader Beigeschmack
Dennoch ist die Aktie z. Zt. mit Vorsicht zu genießen. Mitte August wurde in den USA eine Klage gegen L&H eingereicht, in der der Gesellschaft vorgeworfen wird, in ihrem letzten Quartalsbericht falsche Angaben über koreanische Kunden gemacht zu haben. Angeblich wurden Geschäftsbeziehungen und Umsätze dazuphantasiert. Als die Vorwürfe zum ersten mal im Wall Street Journal publiziert wurden, brach der Kurs um 25% ein. Vom Vorstand wurden diese Gerüchte umgehend dementiert. Zwar hat sich die Aktie seit ihrem Tiefststand von 26,75 USD bisher recht gut erholt, Anleger sollten sie jedoch momentan untergewichten, bis das Gerichtsverfahren beendet ist. Sollten sich die Vorwürfe bestätigen, wird es zu weiteren Kurseinbrüchen kommen. Anderenfalls wird sich die Aktie aufgrund der guten Fundamentaldaten rasch erholen. Performaxx wird Sie über die aktuellen Entwicklungen auf dem Laufenden halten.
Jaroslaw Gabor
---------------------
Quelle: performaxx
Yours digitally
KiKo
!
Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an feedback@wallstreet-online.de
Schön zu lesende Zusammenfassung von den Fools:
http://www.fool.com/portfolios/rulebreaker/2000/rulebreaker0…
Break Down: Lernout & Hauspie Speech Products
Lernout & Hauspie Speech Products makes four types of software products that have good potential for future revenue: voice recognition, transcription services, text-to-speech, and translation. The technology has gotten much better in the last two years, but still has a way to go to become widely accepted. When the company`s four products are combined, they become a killer mobile Internet application that breaks down numerous communication barriers. Lernout & Hauspie is positioned to lead this industry.
By Brian Lund (TMF Tardior)
August 22, 2000
Break Down August continues today with the company that finished second in the voting during this spring`s Rule Breaker seminar: Lernout & Hauspie Speech Products (Nasdaq: LHSP). (Ballard Power, which we ran through the paces in June, finished first in the seminar.)
I wrote this report -- or, rather, spoke this report -- using L&H`s voice recognition (VR) software Voice Xpress Advanced on a Pentium III/500 computer with 256Mb RAM. I had never used voice recognition software before. It proved to be much simpler than I had thought. After only about an hour of training, consisting of reading a few pre-programmed passages and feeding in a couple of writing samples, the software recognized my natural speech with about 90% accuracy.
Some of the tasks would have been easier by hand, but the recognition rate was pretty darn good. With some further training, I imagine I could get it up to the high 90s. I really want VR to work well, so that I can save all my wrist injuries for foosball.
VR software has come a long way in the last two years, partially because of improvements in the technology, but mostly because VR requires a great deal of processing power. The Pentium II brought the required level of performance to the desktop, a vital moment for L&H`s Voice Xpress.
Still, VR is not L&H`s whole story.
Top dog and first-mover in an important, emerging industry
L&H has products in several different areas. I break it down into four main groups, though they all can relate to one another: 1) voice recognition, 2) transcription, 3) text-to-speech, and 4) translation.
1. Voice recognition
In addition to developing its own VR product, L&H recently bought one of its biggest competitors, privately held Dragon Systems. Between Dragon`s NaturallySpeaking (the latest version of which appeared last week) and L&H`s Voice Xpress, L&H has the lead in VR products. The other serious competitor, IBM (NYSE: IBM) through its ViaVoice line, doesn`t have nearly the focus on the industry that L&H has. As Fool writer Richard McCaffery says, IBM doesn`t wake up in the morning thinking, "What`s happening in our VR unit?"
VR presents a number of opportunities. First, the corporate world calls out for a workable product in this field. You`ve probably heard people complain of arm ailments from repetitive stress, if you haven`t felt them yourself. I`ve had a number of people here at the Fool tell me that they want to hear how my software works out in order to decide whether they want to try it themselves.
The problem is that people expect a lot from VR. They want the Star Trek world, where you can simply command the computer to answer any problem you have. VR technology is not quite there, though I can attest that it has reached a comfortable "natural speech" level. The commands are simple and easily recognized with normal cadence. In another few years, it may well become a force in the personal computing world.
The second, and potentially much bigger, opportunity is in telephony. I`ll talk more about this later.
2. Transcription
Though its recent acquisition of Dictaphone, L&H has about 60% market share in medical transcription, an estimated $6 billion market. Combined with the purchase last year of a speech-recognition company that specializes in processing speech recorded over the telephone, L&H plans to expand Dictaphone`s service to include an outsourcing transcription service. Dictophone offers similar opportunities in the legal, insurance and even trading businesses.
3. Text-to-speech
This technology has been around for many years (remember the computer voice in WarGames -- "Shall we play a game?"), but it has only recently begun to take on the qualities of natural speech. L&H says that its RealSpeak product is almost indistinguishable from human speech.
The big application here is audio feedback from Web pages. Combined with speech recognition, RealSpeak can read content to a mobile phone user who issues commands to the browser. L&H has licensed RealSpeak to numerous voice portals and telephony companies, including 50 new contracts in the latest quarter. L&H is also working on a deal with Visteon (NYSE: VC) and Delphi Automotive (NYSE: DPH) to offer automotive voice controls and Internet speech portal services.
Competition comes from Nuance Communications (Nasdaq: NUAN), which develops speech-based interfaces and voice verification for telephony applications. Many analysts see Nuance as the current market leader in this space, which its market cap, similar to L&H, reflects. Dain Rauscher Wessels doesn`t even consider L&H a serious competitor. Nuance certainly has the jump here, but L&H is booking more and more clients. It clearly intends to compete. Newly public SpeechWorks (Nasdaq: SPWX) and Philips Electronics (NYSE: PHG) also offer competing products.
4. Translation
Anyone who has used Babelfish knows that automated translation hasn`t been perfected yet. L&H offers iTranslator, both for gist-level translation and for incorporation in software development. It also has iTranslator Online, which combines automated and human translation to achieve better results.
The whole package -- is L&H top dog?
L&H leads in some of these fields and trails in others, but it is the only company that partakes in all of them. Allowing that each area will require further development (especially translation), the combination of all four could be powerful. Imagine a Japanese-speaker dialing up his Internet account from his car, requesting Microsoft`s latest press release, and having it read to him in Japanese. That`s one killer app. No language barriers, no need for mobile keyboards for your Palm Pilot, no need to occupy your hands. It`s Star Trek, man.
Can it happen? That`s the ultimate goal, and L&H is the first mover and top dog. There is plenty of potential revenue strewn on the path along the way.
That`s only the first criterion, though. There are five more hurdles that L&H needs to clear to qualify as a Rule Breaker. I`ll examine those points tomorrow.
Until then, let us hear what you think of L&H on the Rule Breaker Companies discussion board.
Fool on!
Brian Lund, for rent to parties and bah mitzvahs as TMF Tardior.
Related Links:
Lernout & Hauspie discussion board
Lernout & Hauspie web site
Fool Plate Special, 8/14/00: Lernout & Hauspie Claims Korean Customers
Rule Breaker Seminar candidate company list
See Also
Internet Report -- Wireless Web
RB Beginners Discussion Board
RB Strategies Discussion Board
RB Companies Discussion Board
Strategies
http://www.fool.com/portfolios/rulebreaker/2000/rulebreaker0…
Break Down: Lernout & Hauspie Speech Products
Lernout & Hauspie Speech Products makes four types of software products that have good potential for future revenue: voice recognition, transcription services, text-to-speech, and translation. The technology has gotten much better in the last two years, but still has a way to go to become widely accepted. When the company`s four products are combined, they become a killer mobile Internet application that breaks down numerous communication barriers. Lernout & Hauspie is positioned to lead this industry.
By Brian Lund (TMF Tardior)
August 22, 2000
Break Down August continues today with the company that finished second in the voting during this spring`s Rule Breaker seminar: Lernout & Hauspie Speech Products (Nasdaq: LHSP). (Ballard Power, which we ran through the paces in June, finished first in the seminar.)
I wrote this report -- or, rather, spoke this report -- using L&H`s voice recognition (VR) software Voice Xpress Advanced on a Pentium III/500 computer with 256Mb RAM. I had never used voice recognition software before. It proved to be much simpler than I had thought. After only about an hour of training, consisting of reading a few pre-programmed passages and feeding in a couple of writing samples, the software recognized my natural speech with about 90% accuracy.
Some of the tasks would have been easier by hand, but the recognition rate was pretty darn good. With some further training, I imagine I could get it up to the high 90s. I really want VR to work well, so that I can save all my wrist injuries for foosball.
VR software has come a long way in the last two years, partially because of improvements in the technology, but mostly because VR requires a great deal of processing power. The Pentium II brought the required level of performance to the desktop, a vital moment for L&H`s Voice Xpress.
Still, VR is not L&H`s whole story.
Top dog and first-mover in an important, emerging industry
L&H has products in several different areas. I break it down into four main groups, though they all can relate to one another: 1) voice recognition, 2) transcription, 3) text-to-speech, and 4) translation.
1. Voice recognition
In addition to developing its own VR product, L&H recently bought one of its biggest competitors, privately held Dragon Systems. Between Dragon`s NaturallySpeaking (the latest version of which appeared last week) and L&H`s Voice Xpress, L&H has the lead in VR products. The other serious competitor, IBM (NYSE: IBM) through its ViaVoice line, doesn`t have nearly the focus on the industry that L&H has. As Fool writer Richard McCaffery says, IBM doesn`t wake up in the morning thinking, "What`s happening in our VR unit?"
VR presents a number of opportunities. First, the corporate world calls out for a workable product in this field. You`ve probably heard people complain of arm ailments from repetitive stress, if you haven`t felt them yourself. I`ve had a number of people here at the Fool tell me that they want to hear how my software works out in order to decide whether they want to try it themselves.
The problem is that people expect a lot from VR. They want the Star Trek world, where you can simply command the computer to answer any problem you have. VR technology is not quite there, though I can attest that it has reached a comfortable "natural speech" level. The commands are simple and easily recognized with normal cadence. In another few years, it may well become a force in the personal computing world.
The second, and potentially much bigger, opportunity is in telephony. I`ll talk more about this later.
2. Transcription
Though its recent acquisition of Dictaphone, L&H has about 60% market share in medical transcription, an estimated $6 billion market. Combined with the purchase last year of a speech-recognition company that specializes in processing speech recorded over the telephone, L&H plans to expand Dictaphone`s service to include an outsourcing transcription service. Dictophone offers similar opportunities in the legal, insurance and even trading businesses.
3. Text-to-speech
This technology has been around for many years (remember the computer voice in WarGames -- "Shall we play a game?"), but it has only recently begun to take on the qualities of natural speech. L&H says that its RealSpeak product is almost indistinguishable from human speech.
The big application here is audio feedback from Web pages. Combined with speech recognition, RealSpeak can read content to a mobile phone user who issues commands to the browser. L&H has licensed RealSpeak to numerous voice portals and telephony companies, including 50 new contracts in the latest quarter. L&H is also working on a deal with Visteon (NYSE: VC) and Delphi Automotive (NYSE: DPH) to offer automotive voice controls and Internet speech portal services.
Competition comes from Nuance Communications (Nasdaq: NUAN), which develops speech-based interfaces and voice verification for telephony applications. Many analysts see Nuance as the current market leader in this space, which its market cap, similar to L&H, reflects. Dain Rauscher Wessels doesn`t even consider L&H a serious competitor. Nuance certainly has the jump here, but L&H is booking more and more clients. It clearly intends to compete. Newly public SpeechWorks (Nasdaq: SPWX) and Philips Electronics (NYSE: PHG) also offer competing products.
4. Translation
Anyone who has used Babelfish knows that automated translation hasn`t been perfected yet. L&H offers iTranslator, both for gist-level translation and for incorporation in software development. It also has iTranslator Online, which combines automated and human translation to achieve better results.
The whole package -- is L&H top dog?
L&H leads in some of these fields and trails in others, but it is the only company that partakes in all of them. Allowing that each area will require further development (especially translation), the combination of all four could be powerful. Imagine a Japanese-speaker dialing up his Internet account from his car, requesting Microsoft`s latest press release, and having it read to him in Japanese. That`s one killer app. No language barriers, no need for mobile keyboards for your Palm Pilot, no need to occupy your hands. It`s Star Trek, man.
Can it happen? That`s the ultimate goal, and L&H is the first mover and top dog. There is plenty of potential revenue strewn on the path along the way.
That`s only the first criterion, though. There are five more hurdles that L&H needs to clear to qualify as a Rule Breaker. I`ll examine those points tomorrow.
Until then, let us hear what you think of L&H on the Rule Breaker Companies discussion board.
Fool on!
Brian Lund, for rent to parties and bah mitzvahs as TMF Tardior.
Related Links:
Lernout & Hauspie discussion board
Lernout & Hauspie web site
Fool Plate Special, 8/14/00: Lernout & Hauspie Claims Korean Customers
Rule Breaker Seminar candidate company list
See Also
Internet Report -- Wireless Web
RB Beginners Discussion Board
RB Strategies Discussion Board
RB Companies Discussion Board
Strategies
22.08. 09:18
Lernout & Hauspie mit neuem Service
--------------------------------------------------------------------------------
Lernout & Hauspie`s Tochterunternehmenung L&H Dictaphone Healthcare Solutions Group verkündet mit L&H iChart seinen ersten Service im Gesundheitsbereich. Der Internet-basierte Service bietet Gesundheitsorganisationen eine einzige End-to-End Lösung für die Verwaltung von klinischen Dokumentationen über das Applikation Service Provider Modell.
Yours digitally
KiKo
Lernout & Hauspie mit neuem Service
--------------------------------------------------------------------------------
Lernout & Hauspie`s Tochterunternehmenung L&H Dictaphone Healthcare Solutions Group verkündet mit L&H iChart seinen ersten Service im Gesundheitsbereich. Der Internet-basierte Service bietet Gesundheitsorganisationen eine einzige End-to-End Lösung für die Verwaltung von klinischen Dokumentationen über das Applikation Service Provider Modell.
Yours digitally
KiKo
Computer zum Diktat:
aktuelle ct nr. 17 Seite 118-133
Jetzt würd ich ja mal gerne wissen, wer sich die ct aufgrund dieses Threads gekauft hat...
Yours digitally <gespannt>
KiKo
aktuelle ct nr. 17 Seite 118-133
Jetzt würd ich ja mal gerne wissen, wer sich die ct aufgrund dieses Threads gekauft hat...
Yours digitally <gespannt>
KiKo
Hallo
Ich hab mir die ct gerade gekauft, werde es mir jetzt durchlesen und Euch danach Bericht erstatten.
Frage an KiKo:
Wie wär es eigentlich mit einem 4. Teil?
Der 3. Teil hat jetzt schon ca. 100 Beiträge und wird ziemlich langsam.
Ich hab mir die ct gerade gekauft, werde es mir jetzt durchlesen und Euch danach Bericht erstatten.
Frage an KiKo:
Wie wär es eigentlich mit einem 4. Teil?
Der 3. Teil hat jetzt schon ca. 100 Beiträge und wird ziemlich langsam.
Moin moin
Hier poste ich mal ´ne Nachricht, die mir nicht gerade unwesentlich erscheint (Quelle: finance-online.de):
Vorstand von Lernout & Hauspie tritt zurück
Nach dem starken Kursverfall der Aktie des belgischen Sprachsoftwareherstellers Lernout & Hauspie wird der bisherige CEO Gaston Bastiaens zurücktreten. Er wird ersetzt durch John Duerden, der bisher in der medizinischen Abteilung tätig war.
Aufgrund der jüngsten Akquisitionen brauche die Firma jetzt ein Management, das die Firma wieder zusammenführe, so ein Zeitungsbericht.
Lernout & Hauspie war vor Kurzem aufgrund möglicherweise falsch veröffentlichten Informationen in die Kritik geraten, was auch den Aktienkurs in Mitleidenschaft gezogen hatte.
25.08.00 09:48 -jo
MfG LuckyWinner
Hier poste ich mal ´ne Nachricht, die mir nicht gerade unwesentlich erscheint (Quelle: finance-online.de):
Vorstand von Lernout & Hauspie tritt zurück
Nach dem starken Kursverfall der Aktie des belgischen Sprachsoftwareherstellers Lernout & Hauspie wird der bisherige CEO Gaston Bastiaens zurücktreten. Er wird ersetzt durch John Duerden, der bisher in der medizinischen Abteilung tätig war.
Aufgrund der jüngsten Akquisitionen brauche die Firma jetzt ein Management, das die Firma wieder zusammenführe, so ein Zeitungsbericht.
Lernout & Hauspie war vor Kurzem aufgrund möglicherweise falsch veröffentlichten Informationen in die Kritik geraten, was auch den Aktienkurs in Mitleidenschaft gezogen hatte.
25.08.00 09:48 -jo
MfG LuckyWinner
Hallo
Ich schreib hier jetzt mal die Zusammenfassung aus der c´t Heft 17 rein.
Da in dem Heft ein schönes Fazit ist, übernehme ich dies einfach.
Wer es genauer wissen will, muss sich halt das Heft kaufen.
Zuerst mal die Preise der einzelnen Programme:
FreeSpeech 2000 (Philips) kostet 350.- DM
NaturallySpeaking Preferred 4.0 (Dragon Systems) kostet 400.- DM
ViaVoice Millennium Pro (IBM)kostet 400.- DM
ViaVoice Millennium für Mac (IBM) kostet 200.- DM
VoiceXpress Professional 4.0 (Lernout&Hauspie) kostet 350.- DM
“ FreeSpeech 2000 und ViaVoice Millennium für Windows zeichnen sich durch einen großen Funktionsumfang aus: In ihnen kann man beliebige Makros anlegen, Benutzerprofile auf andere Rechner portieren und den Originalton jederzeit wieder abrufen. Anders als die IBM-Software ist FreeSpeech jedoch nicht in andere Windows-Programme integriert.
Dafür glänzt das Programm NaturallySpeaking mit einer ausgezeichneten Vokabularverwaltung. Das Diktiersystem aus Holland erwies sich allerdings als ausgesprochen instabil, was den ansonsten sehr guten Gesamteindruck erheblich trübte.
Auch die gute Erkennungsleistung und die Mehrsprachigkeit machten die vielen unkontrollierten Abstürze von FreeSpeech nicht wett.
Das Windows-Programm von ViaVoice Millennium ist zwar ein echtes Allround-Talent, doch sein ständiger Trainingsbedarf kostet einfach zu viel Zeit und nervt.
Die Erkennungsqualität schwankt in unseren Testläufen stark; bei diktierten Komposita schien es oft dem Zufall überlassen, ob zwei einzelne oder ein zusammengesetztes Wort im Dokument auftauchen. Gleiches gilt auch bei VoiceXpress der Fall.
ViaVoice für den Mac ist im Vergleich zu Windows-Ausgabe fast schon rudimentär: keine Befehls- und Anwendungsmakros, keine Vorlesefunktion, keine Anwendungsintegration und Diktat nur in das SpeakPad. IBM wollte mit seiner Version für Apple-Computer vor allem schnell auf den Markt – die Portierung auf das Mac OS hat darunter gelitten. Die Fehlerrate im Diktat war zwar unter Mac OS und Windows in etwa gleich. Leider nutzt IBM auch für die Mac OS - Version das Zeit raubende Trainingskonzept.
Lernout&Hauspie VoiceXpress ist ebenso wie die Windows-Produkte von Philips und IBM makrofähig und kann Benutzerprofile beliebig ex- und importieren; es zeichnet jedoch keinen Originalton auf und ist damit für Fremdkorrekturen ungeeignet. Interessant ist die Integration in den PowerTranslator von L&H – damit liegen diktierte Texte quasi sofort als übersetzte – wenn auch nicht fehlerfreie – Dokumente vor. Die Dokumentation zu VoiceXpress ist trotzt sehr guter Online-Hilfe reichlich dünn ausgefallen. Diktate erkannte VoiceXpress mit mittelmäßigem Erfolg; Korrekturen sind hier allerdings ziemlich zeitaufwändig.
Dragon hat in NaturallySpeaking etliche Funktionen ausgeklammert: Der O-Ton lässt sich nicht speichern, die Makrofähigkeit ist stark eingeschränkt und Benutzerprofile können nicht auf andere Rechner übertragen werden. Offenbar haben die Entwickler stattdessen viel Energie in des Pudels Kern, nämlich die Erkennung selbst gesteckt: Das Programm meistert unsere Trainingsabläufe mit Abstand am besten. Die ausgefeilte Fähigkeit zur Kompositabildung reduzierte die Fehlerrate und die zeit für Textkorrekturen erheblich. Auch kurze Wörter erkannte NaturallySpeaking recht zuverlässig. Ohne O-Ton-Wiedergabe und ohne Exportmöglichkeiten bleibt NaturallySpeaking zwar eine reine Einzelplatzlösung, doch die läuft stabil und ist richtig gut.
Angesichts der ausgezeichneten Erkennungsqualität von NaturallySpeaking auf der einen und der umfangreichen Ausstattung von VoiceXpress auf der anderen Seite darf man auf das kommende Diktiersystem gespannt sein, das aus dem Zusammenschluss von L&H und Dragon Systems hervorgehen wird. Wann dieses Diktiersystem auf den Markt kommt, steht indes noch nicht fest; voraussichtlich im Herbst soll erst mal die Nachfolgeversion 5.0 von NaturallySpeaking erscheinen.“
Mitch
Ich schreib hier jetzt mal die Zusammenfassung aus der c´t Heft 17 rein.
Da in dem Heft ein schönes Fazit ist, übernehme ich dies einfach.
Wer es genauer wissen will, muss sich halt das Heft kaufen.
Zuerst mal die Preise der einzelnen Programme:
FreeSpeech 2000 (Philips) kostet 350.- DM
NaturallySpeaking Preferred 4.0 (Dragon Systems) kostet 400.- DM
ViaVoice Millennium Pro (IBM)kostet 400.- DM
ViaVoice Millennium für Mac (IBM) kostet 200.- DM
VoiceXpress Professional 4.0 (Lernout&Hauspie) kostet 350.- DM
“ FreeSpeech 2000 und ViaVoice Millennium für Windows zeichnen sich durch einen großen Funktionsumfang aus: In ihnen kann man beliebige Makros anlegen, Benutzerprofile auf andere Rechner portieren und den Originalton jederzeit wieder abrufen. Anders als die IBM-Software ist FreeSpeech jedoch nicht in andere Windows-Programme integriert.
Dafür glänzt das Programm NaturallySpeaking mit einer ausgezeichneten Vokabularverwaltung. Das Diktiersystem aus Holland erwies sich allerdings als ausgesprochen instabil, was den ansonsten sehr guten Gesamteindruck erheblich trübte.
Auch die gute Erkennungsleistung und die Mehrsprachigkeit machten die vielen unkontrollierten Abstürze von FreeSpeech nicht wett.
Das Windows-Programm von ViaVoice Millennium ist zwar ein echtes Allround-Talent, doch sein ständiger Trainingsbedarf kostet einfach zu viel Zeit und nervt.
Die Erkennungsqualität schwankt in unseren Testläufen stark; bei diktierten Komposita schien es oft dem Zufall überlassen, ob zwei einzelne oder ein zusammengesetztes Wort im Dokument auftauchen. Gleiches gilt auch bei VoiceXpress der Fall.
ViaVoice für den Mac ist im Vergleich zu Windows-Ausgabe fast schon rudimentär: keine Befehls- und Anwendungsmakros, keine Vorlesefunktion, keine Anwendungsintegration und Diktat nur in das SpeakPad. IBM wollte mit seiner Version für Apple-Computer vor allem schnell auf den Markt – die Portierung auf das Mac OS hat darunter gelitten. Die Fehlerrate im Diktat war zwar unter Mac OS und Windows in etwa gleich. Leider nutzt IBM auch für die Mac OS - Version das Zeit raubende Trainingskonzept.
Lernout&Hauspie VoiceXpress ist ebenso wie die Windows-Produkte von Philips und IBM makrofähig und kann Benutzerprofile beliebig ex- und importieren; es zeichnet jedoch keinen Originalton auf und ist damit für Fremdkorrekturen ungeeignet. Interessant ist die Integration in den PowerTranslator von L&H – damit liegen diktierte Texte quasi sofort als übersetzte – wenn auch nicht fehlerfreie – Dokumente vor. Die Dokumentation zu VoiceXpress ist trotzt sehr guter Online-Hilfe reichlich dünn ausgefallen. Diktate erkannte VoiceXpress mit mittelmäßigem Erfolg; Korrekturen sind hier allerdings ziemlich zeitaufwändig.
Dragon hat in NaturallySpeaking etliche Funktionen ausgeklammert: Der O-Ton lässt sich nicht speichern, die Makrofähigkeit ist stark eingeschränkt und Benutzerprofile können nicht auf andere Rechner übertragen werden. Offenbar haben die Entwickler stattdessen viel Energie in des Pudels Kern, nämlich die Erkennung selbst gesteckt: Das Programm meistert unsere Trainingsabläufe mit Abstand am besten. Die ausgefeilte Fähigkeit zur Kompositabildung reduzierte die Fehlerrate und die zeit für Textkorrekturen erheblich. Auch kurze Wörter erkannte NaturallySpeaking recht zuverlässig. Ohne O-Ton-Wiedergabe und ohne Exportmöglichkeiten bleibt NaturallySpeaking zwar eine reine Einzelplatzlösung, doch die läuft stabil und ist richtig gut.
Angesichts der ausgezeichneten Erkennungsqualität von NaturallySpeaking auf der einen und der umfangreichen Ausstattung von VoiceXpress auf der anderen Seite darf man auf das kommende Diktiersystem gespannt sein, das aus dem Zusammenschluss von L&H und Dragon Systems hervorgehen wird. Wann dieses Diktiersystem auf den Markt kommt, steht indes noch nicht fest; voraussichtlich im Herbst soll erst mal die Nachfolgeversion 5.0 von NaturallySpeaking erscheinen.“
Mitch
starte heute Abend einen 4. Teil mit den Kommentaren zum Rücktritt.
Jetzt wenig Zeit.
...und Dank an Mitch
Yours digitally
KiKo
Jetzt wenig Zeit.
...und Dank an Mitch
Yours digitally
KiKo
jetzt fällt der Kurs - ich bin überrascht. Denken die Amis, dass der Rücktritt bedeutet, dass WSJ Recht hatte? Anfang nächster Woche werden die Resultate des Audit veröffentlicht...dann wird es wieder aufwärts gehen.
Da ich davon überzeugt bin, dass Sprachsteuerung und -erkennung in den nächsten Jahren immer mehr an Bedeutung gewinnen werden, habe ich mich entschlossen mittelfristig (2-3 Jahre) in diesem Bereich zu investieren.
Neben IBM und Philips bietet sich LHSP hierfür an.
Ich beobachte diesen Wert seit ca. 3 Monaten und stelle fest, dass er (häufig auch gegen den Markt) zwischen 30 und 40 EUR auf und ab pendelt.
Wie seht ihr die nahe Zukunft? Haben wir jetzt Einstiegskurse?
Neben IBM und Philips bietet sich LHSP hierfür an.
Ich beobachte diesen Wert seit ca. 3 Monaten und stelle fest, dass er (häufig auch gegen den Markt) zwischen 30 und 40 EUR auf und ab pendelt.
Wie seht ihr die nahe Zukunft? Haben wir jetzt Einstiegskurse?
Shares of Lernout & Hauspie
Speech Products NV on Friday tumbled more than 8
percent after the Belgian voice-recognition company said its
chief executive would step down and be replaced by the former
head of Dictaphone, which the company recently acquired.
Shares were down 3-3/16 to 31-5/8 and were among the top
net losers on the Nasdaq.
Earlier in the day, the company said Gaston Bastiaens would
resigned as president and CEO but would remain as a member of
the board.
In his place, the company named John Duerden, the chief
executive of the company`s Health Care Solutions Group.
"Clearly, this is prompted by an announcement of a management
change," said Rob Stone, analyst with SG Cowen, which has rated
the stock a strong buy. "We think it`s a wrong interpretation,
maybe prompted by short selling rather than shareholders
getting out of the stock."
The change comes in the midst of an audit the company
commissioned accounting firm KPMG to do after the Wall Street
Journal cited alleged discrepancies in its sales information.
Stone argued, however, that the management change should
not be interpreted as a harbinger of bad news to follow. He
pointed to Bastiaens` recent purchase of 625,000 shares at $40
a share.
"It`s not something an executive would do if there was any
reason to think there would be problems," he said.
Duerden was the former chief executive officer of
Dictaphone Corp., the U.S. dictation and call center systems
maker that Lernout acquired in May. Stone said he saw the
board`s move as a positive step because health care represented
Lernout`s largest near-term opportunity. In addition,
Dictaphone was about the same size as Lernout before it was
acquired.
"You need to integrate the two companies of nearly the same
size," he said.
Speech Products NV on Friday tumbled more than 8
percent after the Belgian voice-recognition company said its
chief executive would step down and be replaced by the former
head of Dictaphone, which the company recently acquired.
Shares were down 3-3/16 to 31-5/8 and were among the top
net losers on the Nasdaq.
Earlier in the day, the company said Gaston Bastiaens would
resigned as president and CEO but would remain as a member of
the board.
In his place, the company named John Duerden, the chief
executive of the company`s Health Care Solutions Group.
"Clearly, this is prompted by an announcement of a management
change," said Rob Stone, analyst with SG Cowen, which has rated
the stock a strong buy. "We think it`s a wrong interpretation,
maybe prompted by short selling rather than shareholders
getting out of the stock."
The change comes in the midst of an audit the company
commissioned accounting firm KPMG to do after the Wall Street
Journal cited alleged discrepancies in its sales information.
Stone argued, however, that the management change should
not be interpreted as a harbinger of bad news to follow. He
pointed to Bastiaens` recent purchase of 625,000 shares at $40
a share.
"It`s not something an executive would do if there was any
reason to think there would be problems," he said.
Duerden was the former chief executive officer of
Dictaphone Corp., the U.S. dictation and call center systems
maker that Lernout acquired in May. Stone said he saw the
board`s move as a positive step because health care represented
Lernout`s largest near-term opportunity. In addition,
Dictaphone was about the same size as Lernout before it was
acquired.
"You need to integrate the two companies of nearly the same
size," he said.
In der neuen Zeitschrift "Business2.0" ist ein Artikel über "Websurfen per Ansage" und "intelligente Sprachdienste" drin.
Es geht dabei um das Zusammenwachsen von Internet und Handy.
Kurz angesprochen wurde auch L&H: Die Sprachtüftler L&H und die US-Website-Betreiber BeVocal haben eine Allianz gegründet, um Millionen von Internet-Nutzern den Zugang zum Web per Sprachportal zu ermöglichen.
Desweiteren steht in dem Artikel, daß eine Prognose der Kelsey-Gruppe ergeben hat, daß das weltweite Umsatzvolumen von Sprachportalen im Jahr 2005 auf über 12 Milliarden Dollar wachsen soll.
Naja, ist ja noch einige Zeit bis dahin.
Sonst gibt es in dem Artikel eigentlich nicht viel Inhalt.
Mitch
Es geht dabei um das Zusammenwachsen von Internet und Handy.
Kurz angesprochen wurde auch L&H: Die Sprachtüftler L&H und die US-Website-Betreiber BeVocal haben eine Allianz gegründet, um Millionen von Internet-Nutzern den Zugang zum Web per Sprachportal zu ermöglichen.
Desweiteren steht in dem Artikel, daß eine Prognose der Kelsey-Gruppe ergeben hat, daß das weltweite Umsatzvolumen von Sprachportalen im Jahr 2005 auf über 12 Milliarden Dollar wachsen soll.
Naja, ist ja noch einige Zeit bis dahin.
Sonst gibt es in dem Artikel eigentlich nicht viel Inhalt.
Mitch
4. Teil wohl doch erst morgen, kümmere mich noch um einen Arbeitsvertrag.
Yours digitally
KiKo
Yours digitally
KiKo
Kiko for President!!!!
mfg
thefarmer
mfg
thefarmer
Thread Teil 4 ist ist angelaufen. Bitte in Zukunft dort posten.
Suchwort: >KiKo< oder >Lernout<
@More: Antwort in Teil 4
Dieses war der dritte Streich, doch der nächste folgt sogleich
Man dankt.
Yours digitally
KiKo
Suchwort: >KiKo< oder >Lernout<
@More: Antwort in Teil 4
Dieses war der dritte Streich, doch der nächste folgt sogleich
Man dankt.
Yours digitally
KiKo
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