Reference ChecksBy Joshua Weinberger | Posted 2003-05-01 Print
VCON's revenues may have taken a beating, but its market share has held steady in the realm of personal (or desktop) equipment.
TEXAS DEPT. OF HUMAN SERVICES
Videoconferencing Project Lead
Project: The state office has $35K invested in pilot devices—two MediaConnect 8000s and a dozen or so Escorts—but most are not yet deployed, due to financial constraints.
CELL MIGRATION CONSORTIUM
Project: The University of Virginia-based research initiative has spent about $200K on its videoconferencing equipment, including roughly 40 ViGos, a MediaConnect 9000, and Media Xchange Manager (MXM).
Technical Services Coordinator
(518) 370-8100 Ext. 120
Project: As part of a five-year, $10M grant to connect classrooms and "content providers" across New York, 12 ViGos, roughly 40 Escorts, a rebranded MediaConnect 8000 and MXM are all being used.
ACCESS SYSTEMS AMERICA
Project: Wireless-software firm had to deploy VCON Cruiser to match its Japanese parent.
Project: Canadian nonprofit organization has deployed 28 ViGos to facilitate its annual efforts to increase youngsters' scientific and technical literacy.
AUBURN UNIV. COLLEGE OF VETERINARY MEDICINE
Charles E. Branch
Project: Uses a ViGo himself; evaluated the MediaConnect and liked it, but opted instead for a Polycom ViewStation FX, for administrative reasons.
Executives listed here are all users of VCON videoconferencing products. Their willingness to talk has been confirmed by Baseline.
VCON OPERATING RESULTS*
2002 2001 2000
Revenue $20.2M $26.6M $36.2M
Gross margin 47.7% 24.0% 46.1%
Operating loss -$5.4M -$10.7M -$3.8M
Net loss -$6.7M -$11.5M -$6.5M
Net margin -33.3% -43.2% -18.1%
Earnings per share -$0.47 -$1.00 -$0.68
R&D expenditure $5.0M $6.1M $7.0M
*Fiscal year ends Dec. 31
Source: company reports
Total assets $23.4M
Cash & equivalents $6.0M
Long-term debt $3.2M
Debt-equity ratio‡ 24.4%
Accumulated deficit $55.9M
Shares outstanding 14.3M
Market value at 4/29 $5.5M
**As of Dec. 31, except as noted
‡ long-term debt÷stockholders' equity
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