GREY:WSMXF - Post by User
Post by
99921on Oct 09, 2003 9:48pm
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Post# 6509047
AGM
AGMGood summary Peety. A few random things I picked up. Herring got a lot of
flak at last AGM because Sears order wasn't firmed up - he said today they got
the order four days after that AGM. Sears "doesn't write the biggest monthly
cheque" to WRX - Fedex Ground does. Sears is "the first buyer of the second
generation product "- their efficiency in the field went from 70% to 100% using
WRX. Ten million of the 50 million service vehicles in the market "match the
Sears model." The companies that have looked at Sears and then asked for a
proposal represent 30,000 units. A number of pilot programs are in process -
"when we have an order we"ll announce it." Schlumberger seems to be doing
a lot of big company navel gazing instead of hustling business. Herring said
Schlum. has "identified 18 "work flows" they could automate in the field. WRX
has done all the training work it needs to do with Schlum. and it is now up to
Schlum. to book the orders - WRX then gets monthly revenue for supplying its
software. At Road is the biggest supplier to the companies with 20 to 30
trucks in their fleets. Herring feels that WRX has no competition in markets
like Sears. Financial targets are to be EBITDA positive and to have positive
EPS. I personally dislike the EBITDA concept - those are costs that cannot be
ignored by creating a new acronym.