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Mobility
Electronics - Breaking the Boundaries of Mobile Computing |
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Editors Note:
A few weeks ago, I was returning from a trip to Florida and as
I went through the usual search in airport security I was amused
by the tangle of cords and wires in by bag with my laptop, mobile
phone, PDA, razor, and portable DVD player. My bag looked
like the return bin at Radio Shack!
I noted the problem subliminally and then marveled at the solution
no less then ten minutes later in an issue of Skymall where I
read about “Juice” technology, a universal power source
for most of your personal electronics. Further along the coincidence
trail, upon returning home I received a packet of information
on a new company we were considering bringing to our StockUpTicks
database- Mobility Electronics, Inc.
(Nasdaq/NMS: MOBE), the purveyor of the “Juice”
innovation.
Intrigued, I looked at Mobility a little deeper, just as you
will today. What I found was compelling as a consumer and an investor.
Mobility is a NASDAQ company with over 33,000 Juice adapters booked
already… and that's not all they do.
Mobility also brings to the marketplace a comprehensive and diverse
suite of connectivity hardware and software for PDA users (Word,
Excel, PowerPoint, etc.), truly liberating technology for those
of us who live on the go. Someday, say the futurists, the
home computer may be looked upon like corded phones are today,
a tethered dinosaur in an era of sheer MOBILITY.
"We make mobile computing
easier."
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ABOUT
MOBILITY ELECTRONICS INC. (Nasdaq/NMS: MOBE) |
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Mobility Electronics, Inc. (MOBE) designs, develops, and
markets products for portable and handheld computing devices like
PDAs (personal digital assistant) and laptop computers.
The company's products include widely compatible docking stations
for handheld and portable computers; connectivity and video products
for handheld computing devices; expansion products for desktop,
server and portable computers; and power products and accessories
for portable computing devices of all types.
Mobility's software programs are written specifically for handheld
and portable devices allowing users to have access to programs
they would normally find only on their larger desktop computers
or servers.
MOBE's all-in-one power adapter, simply
called Juice(TM),
is one of the mobile computing industry's hottest products!
"Mobility Electronics has come
up with a single power supply that can charge virtually any notebook,
PDA, or cell phone. Even better, it can charge any two of the
three simultaneously. Plus, it works with any power source--
the plug in your wall, the lighter in your car, and the outlet
offered by some airlines. Best of all, Mobility Electronics has
managed to squeeze the entire package into a power supply no bigger
than the dedicated power supply that comes with most notebook
computers."
(excerpt
from - ZD-Net Tech Update - David
Berlind 11/27/02)
Through the first half of the first quarter of 2003, cumulative
Juice bookings now exceed 33,000 units, including the OEM
versions.
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MARKETING
& SALES |
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Mobility Electronics markets its products through a worldwide
network of OEMs, distributors, resellers, retail channels and
direct catalog and e-commerce sales.
Industry forecasts project annual sales of more than 50
million portable computers
and handheld devices in 2003.
To increase its revenue share in these markets and establish
a strong position in the industry, Mobility acquired three companies
during the first three quarters of 2002. The acquisition of Cutting
Edge Software last year provided MOBE with a new customer
base of 400,000 mobile professionals that are a demographic match
to MOBE's other product lines. In addition, its acquisition
of iGo Mobility Products dramatically expanded the company's
distribution channels.
By developing parallel, channel-building relationships and partnerships
during its acquisition phase, Mobility created a backlog of demand
in the marketplace for its Juice power adapter in Q4 of 2002.
The backlog orders have been filled, but the positive notoriety
for demand has increased sales and full year 2003 revenue is
expected to increase by 50% or more, according to MOBE management.
The Company has leveraged its brand equity through numerous positive
reviews from media outlets such as CNN Headline News and The New
York Times to continue expanding its distribution outlets for
Juice. In addition to previously disclosed customers such as Ingram
Micro and Tech Data, MOBE has received purchase orders and/or
commitments for Juice from such companies as PC Mall, Zones, Buy.com,
PC Connection, CDW, Insight, Fry's Electronics, Costco Business
Center, Skymall, MicroCenter, various airlines and many others.
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MOBE
PRODUCT LINES |
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The mission at Mobility Electronics is simply to make mobile
computing easier - by developing
and marketing products that provide new functionality and
allow mobile users
to get the most out of their mobile computing devices.
MOBE Offers Innovative Products In Three Core Areas Through
Four Distinct Product Lines
Power products and batteries for portable
devices
Handheld computing devices
Expansion, Docking and Accessories
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Handheld
Magazine
Best
Spreadsheet
1998,
1999, 2000 and 2001
|
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Quickoffice 6.2! Work with Microsoft Excel
and Word documents on your Palm Powered Handheld!
Quickoffice brings together the industry leading Quicksheet,
Quickword and Quickchart apps.
Now available: Mac
version! |
NEW Quickoffice
Pro! Work with Microsoft Excel, PowerPoint and Word documents
on your Palm powered Handheld! Quickoffice Pro introduces
Quickpoint. Plus the industry leading Quicksheet, Quickword
and Quickchart apps. |
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RECENT
NEWS FROM MOBE |
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Mobility
Electronics' 'Juice' Multi-Function Power Adapter
To Support
Apple PowerBook and iBook Computers
- Juice to Be Available Through Apple Store, Apple Retail
Outlets, and Select Apple Resellers -
SCOTTSDALE, Ariz., March 18 /PRNewswire-FirstCall/ -- Mobility
Electronics, Inc. (Nasdaq: MOBE), a leading provider of innovative
portable computing solutions for the mobile computer user, today
announced its new Juice power
adapter's support for the Apple platform, expanding the company's
footprint in the mobile computing industry and offering Mac users
a powerful complement to their Apple PowerBook and iBook computers.
Juice is the first and only product that enables users to simultaneously
charge their laptop and a mobile phone or handheld from any power
source -- standard wall outlet, auto outlet or airline outlet
-- allowing mobile Mac users to carry a single power device for
all their laptop, mobile phone, and handheld device power and
charging needs.
Beginning in March,
Juice will be available through the online Apple Store ( www.apple.com
),
at Apple Retail Stores
and through select Apple Authorized Resellers.
To read the complete press release and its disclaimer, Click
Here
For a current quote and to review all of MOBE's recent
press releases and disclaimers, Click
Here
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Juice is
the only all-in-one mobile adapter that simultaneously
connects notebooks plus a mobile phone or handheld device
to any power source.
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SELECTED
FINANCIAL HIGHLIGHTS |
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Mobility
Electronics Reports 46% Increase
in Fourth
Quarter Revenues
- February
13, 2003 -
- * Revenue increases
46% over the fourth quarter of the prior year and 39% over prior
quarter.
- * Power and Handheld
product areas post more than 40% revenue growth over prior quarter.
- * Pro forma consolidated
operating expenses reduced 38%.
- * More than 33,000 units
booked for Juice power adapters.
- * Q1 2003 revenue expected
to increase 60-74% over Q1 2002.
MANAGEMENT BELIEVES IN THE COMPANY
At December 31, 2002, the Company had $3.2 million in cash and
cash equivalents, and had not drawn upon its $10 million line
of credit. The Company strengthened its financial position shortly
after the end of the fourth quarter through a private placement
of preferred stock that generated net proceeds of $1.25 million.
Three managers and three outside directors
invested an aggregate of $620,000 in this financing in
conjunction with a lead outside institutional investor.
Recent Price (03/21/03): $1.30
52-Week Range: $0.60 - $2.41
Market Capitalization: $26.3 million
Shares Outstanding: 20.3 million
Float: 16.7 million |
Average Daily Volume: 56k (3-month ave.)
Price to Book: 1.24 (most recent qtr)
*MOBE
currently has a solid cash position as well as a $10 million
working capital line of credit with Silicon Valley Bank
that has not yet been drawn upon.
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To view the SEC filings for MOBE, Click
Here
To view the press release for MOBE's last quarterly filing, Click
Here
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LEADERSHIP |
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Charles Mollo, Chairman,
Chief Executive Officer, President
Charles R. Mollo is a founder of the Company and has been the
Chairman and Chief Executive Officer of the Company since its
formation in May 1995, a director since September 1995 and its
President between March 1997 and June 1998. From September 1992
to May 1995, Mr. Mollo was the Director of the Wireless Telephone
Products Division of Andrew Corporation, a communications equipment,
services and systems company. From September 1986 to July 1992,
Mr. Mollo was the Vice President of Corporate Development of Alliance
Telecommunications Corporation, a wireless telecommunications
company. Mr. Mollo has a B.S.E.E. from Manhattan College, an M.S.E.E.
From Newark College of Engineering and an M.B.A. from the University
of New Mexico.
Values: Mobility
Electronics supports operating in a financially responsible manner
with effective, non-bureaucratic streamlined processes and controls.
Everyone is welcome and encouraged to communicate and work with
anyone in the company on a boundary-less basis.
Vision: Mobility Electronics'
vision is to be the leading worldwide developer and marketer of
innovative, highly differentiated products and solutions for the
converging mobile computing industry. Mobility Electronics will
lead by empowering top quality people in an environment of opportunity
and fun, by providing extraordinary customer and partner satisfaction,
and by providing substantial shareholder return.
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CONTACT |
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Joan Brubacher, CFO
Mobility Electronics, Inc.
408.596.0061
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Public Relations: Julia Kroner of Mobility Electronics, Inc.,
480.477.3583, jkroner@mobl.com
For information on Mobility Electronics' products and services,
call 480.596.0061
or visit the company Web site at: www.mobilityelectronics.com.
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The Magma series product line enables PCI expansion solutions
for desktop and mobile computing users. Magma’s solutions
overcome desktop PCI expansion restrictions and provide
options to add PCI slots for use with notebooks. The product
line also features PCI Expansion products for OEMs.
Mobility Electronics acquired Portsmith to expand its innovative
hardware product offerings for handheld mobile computing
devices. These products include cradles for popular PDAs
that allow for docking, charging and remote synchronization
and network access. Its "Pitch" presentation products
allow users to deliver full PowerPoint presentations directly
from a handheld device. This provides users functionality
that allows handheld devices to be used as more than just
a companion device.
Mobility Electronics' acquisition of Cutting Edge Software
added a line of innovative productivity software solutions
for handheld mobile computing users. These solutions allow
users to increase the functionality of their handheld
device with the Quickoffice Suite and Mobilefile. This
software has received a 5-Star rating from ZD-Net and
numerous other awards.
