Reference Checks

By Joshua Weinberger  |  Posted 2003-05-01 Email Print this article Print
 
 
 
 
 
 
 

Durability certainly matters—whether it's a handheld device that can withstand a four-foot drop onto concrete, or the reputation of a company suddenly facing intense SEC scrutiny.

Reference Checks

MILLSTONE

Dave Ziegler

I.T. Manager

(513) 983-0197

Project: A Telxon user when Procter & Gamble acquired it in 1995, the coffee distributor changed to Symbol in 1999, in conjunction with iAnywhere's software package.

KIRKLAND'S

Mona Smith

Director, I.S.

(731) 660-7630

Project: Another Telxon veteran, the retailer began rolling out Symbol 8146s in 2002, in conjunction with Triversity's point-of-sale software.

OLD DOMINION FREIGHT LINE

Ken Erdner

VP, I.T.

(336) 889-5000

Project: Transport company has put Symbol 7500s in the hands of about 1,300 of its 2,000 drivers; the rest will soon follow.

U.S. POSTAL SERVICE

Robert L. Otto

CTO

(202) 268-5400

Project: Symbol's handhelds were part of a $100 million contract to provide data collection.

TOTES ISOTONER

Doug Baker

Dir., Distribution

(513) 682-8385

Project: Isotoner was using Symbol devices (and Manhattan Associates' software) in 1998, when it was acquired by Totes, which later upgraded and expanded the deployment.

GIANT EAGLE

Robert P. Garrity

Senior VP, I.S.

(412) 967-3729

Project: Yet another old-time Telxon user, the regional grocery chain now uses 425 PDT 6846s for shelf-price audits within its stores, along with other wireless infrastructure devices.

TAYLORMADE-ADIDAS GOLF

Rob McClellan

Dir., Global Supply Chain Management & eServices

(760) 476-6735

Project: The equipment company had never used handhelds for sales before deploying 80 units of the Pocket-PC-powered 2837 to its sales reps in the field.

The executives listed here are all SAP customers. Their willingness to talk has been confirmed by Baseline.

SYMBOL TECHNOLOGIES OPERATING RESULTS*

2003YTD§ 2002^ 2001#

Revenue $357M $1.3B $1.5B

Gross margin 38.9% 37.2% 27.1%

Operating income/loss $8.1M $28.3M -$61.2M

Net income/loss $4.8M $10.5M -$53.9M

Net margin 1.3% 0.8% -3.7%

Earnings per share $0.02 $0.05 -$0.24

R&D expenditure $35.3M $124M $117M *FY ends Dec. 31; results from 1999-2002 to be restated

§2003YTD reflects first three months; includes $5M special charge ^Includes $55.8M special charges #Includes $16.4M goodwill amortization

OTHER FINANCIALS**

Total assets $1.7B

Stockholders' equity $1.7B

Cash & equivalents $98.6M

Long-term debt $54.5M

Debt/equity ratio‡ 3.2%

Shares outstanding 234M

Market value at 4/29 $2.7B

**As of march 31, except as noted

‡long-term debt÷stockholders' equity

CHIPPING AWAY AT DEBT

$64.6

Long-term debt, in millions

$54

DEC '98

DEC '99

DEC '00

DEC '01

DEC '02

Mar '03



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Assistant Editor
joshua_weinberger@ziffdavisenterprise.com
After being on staff at The New Yorker for five years, Josh later traveled the world, hitting all seven continents in a single year. At Yale University, he majored in American Studies, English, and Theatre Studies.

 
 
 
 
 
 

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