|The phone number to listen to the conference call replay is 800 633-8284, access # 15635016.|
Fukai mentioned, as AVT management has done in the past, that in 1999 many companies spent 2 or 3 times their normal year's communication budgets, and things are now slow as a result. The transition from PBX to IP telelphony is also adding to the current weakness in sales. However, Fukai pointed out that AVT is not losing market share to the competition in any key markets, and that the current slowdown is purely due to marketwide conditions, which will eventually improve. Meanwhile, AVT continues to make money, has no debt, and has almost $3/sh in cash. Fukai stated his belief that all their markets have good potential growth and that AVT has the best products. He stated that the worst is over and there would be quarterly sequential growth in sales in all the company's business segments going forward. I don't look for AVT to do much in the near term but as sales continue to pick up eventually the stock will come back.