Miranda announced their results for Q3 today.
The press release is here, and here is an article from Reuters
To hear a replay of the conference, dial +1-877-289-8525 and enter code 4169895#
Here are a few highlights:
* Sales for the quarter were C$31.8m, which represents a 2% increase versus last quarter and 16% decrease versus the same quarter last year
* Net income of C$1.1m, which is an 86% decrease compared to the same period last year
* Grass Valley manufacturing (Nvision products) is moving to Montreal, but certain specialist functions (assembly, test order fulfillment and new product introduction) will remain in Grass Valley
* The addition of the Nvision product line has helped the company win more business, both stand-alone router product deals and multi-product sales
* There continues to be strong price pressure in the market
* The company said that they are seeing build-up in their sales pipeline, particularly in the international market, and that the US market is still challenging.
* Company expects 2010 to be better than 2009
* When asked by an analyst about a supplier who is anticipating 8% growth to return to their business, Miranda said they would agree that the overall market will return to 5-10% annual growth and that Miranda will likely grow faster than the market