Earnings Call Excerpt
FOCUS Enhancements, Inc. (FCSE)
Q1 2006 Earnings Conference Call
May 11th 2006, 4:30 PM.
Executives:
Kirsten Chapman, CFA Lippert/Heilshorn & Associates, Inc.
Brett Moyer, CEO, President and Director
Gary Williams, EVP of Finance and CFO
Thomas Hamilton, EVP and General Manager, Semiconductor Group
Analysts:
Edward Ching, Rodman & Renshaw, LLC
Robert Engbinder, Montauk Financial
Doug Ledewitz, Pronto Investments
Debbie Earnest, WR Hambrecht
Brian Ladin, Bonanza Capital
Presentation
Operator
Welcome to the Focus Enhancements First Quarter 2006 Earnings Conference Call. At this time, all participants are in a listen-only mode. Following management's prepared remarks, we'll hold a Q&A session. Operator Instructions As a reminder, this conference is being recorded, today May 11, 2006. I would now like to turn the conference over to Ms. Kirsten Chapman. Please go ahead, ma'am.
Kirsten Chapman, CFA Lippert/Heilshorn & Associates
Thank you, Derrick. Good afternoon and welcome to the Focus Enhancements first quarter 2006 conference call. We're pleased you are joining us today. Thank you for waiting to the delay. We are waiting for the wire service to post the 8-K/Q to the SEC. With us today from management are Brett Moyer, Chief Executive Officer; Gary Williams, Chief Financial Officer; and Tom Hamilton, General Manager of Semiconductor Group. If you need a copy of the press release, please visit our website at http://www.focusinfo.com/.
As a reminder, this conference call may contain forward-looking statements, including statements regarding management's intentions, hopes, expectations, representations, plans or predictions about the future. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include statements regarding management's expectations of funding requirements in 2006, demand for Focus Enhancements products, which impacts revenue, revenue expectations including the amount of revenue contributed by its business units, gross margin percentage and the cash from operations, and management's plan to complete it's Ultra Wideband known as UWB semiconductor chip design.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially include customers acceptance of recently introduced products; changes in customers order patterns; unforeseen increased costs, and delays in research and development; the company's ability to maintain adequate funding to deliver, to develop, and implement UWB technology; the ability of the company to migrate its UWB technology to silicon; the performance and acceptance of its UWB technology if and when successfully moved to silicon; and the risk factors specified in Item 1A of the company's Form 10-K for the year ended December 31, 2005, as well as other periodic filings with the SEC. These statements are based on information as of May 11, 2006, and the company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise. Now I will turn the call over to Brett.
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