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STOCK DETAILS
Symbol: IPFS
Exchange: OTCBB
Shares Outstanding: 13,379,000
Current Price: $1.10
Industry: Wireless Manufacturing and Technology
COMPANY DETAILS
Integrated Performance Systems Inc
17300 N. Dallas Parkway, Ste. 2040
Dallas, Texas 75248
Phone: 972/381-1212
Web: www.IntegratedPerformanceSystems.com
<http://www.IntegratedPerformanceSystems.com>
BUSINESS SUMMARY
Integrated Performance Systems,
Inc. ("IPFS") is a Dallas, Texas based holding company which serves
the
wireless microwave and communication industry. From its state of the
art manufacturing plant north of Dallas, IPFS manufactures high
performance digital and microwave products for the defense, avionics,
and telecommunications industries. IPFS manufactures for industry
leaders like Lockheed Martin, Rockwell, Honeywell, Ball Aerospace, L-3,
Raytheon and Celestica, and has won customer awards for its high quality
manufacturing. The company is engaged in a strategic plan to capitalize
on its industry leadership through internal growth and synergistic
acquisitions, with the goal of achieving dramatic growth while enhancing
profitability through elimination of redundant overhead.
<http://www.hotpennies.net/images/IPFS/HPIM0606.JPG> Through it's
Asian
subsidiary, Voium, the company has gained an entrance into the fast
growing Asian wireless market by providing wireless data streaming
technologies. The company has just begun offering instant news and
financial messaging services to Singapore wireless customers in
affiliation with Standard and Poors and Sing Tel. It is anticipated
that this service will be expanded to China and to other markets and
telecommunication carriers now that the revenue enhancement potential
for carriers has been proven. In addition, Voium is pursuing
opportunities to develop wireless infrastructure using a patented
broadband technology in conjunction with Asian telecom companies. These
technologies, beyond their significant profit potential, may also open
the door for IPFS to begin manufacturing operations in Asia as a part of
its worldwide expansion plan.
IPFS benefits from:
* Blue chip client base
* Reputation from superior quality
* Niche markets with few qualified competitors
* High margins (70%) over material cost
* Strong partners in Asian Telecom market
Clients use IPFS because of:
* Ability to deliver hard to build products
* Product design improvements
* Cost reductions for long running programs
* Superior data streaming technology enhances revenues for Asian
Telcos
Highlights of recent accomplishments:
* IPFS achieves positive EBITDA in fourth quarter on increased
telecommunications business
* Wireless data streaming partnership with Standard & Poors and
Sing Tel proves concept for Chinese and other Asian telcos.
* IPFS receives record defense orders in month following start of
Iraq war
* IPFS acquires Voium, entering Asian wireless technology market
IPFS is poised for explosive growth through its acquisition program and
the anticipated growth in the defense and telecommunications industry
over the next few years.
PRODUCTS AND TECHNOLOGY OVERVIEW
Manufacturing
IPFS is a contract manufacturer of microwave frequency components,
high-speed digital boards, antennas, and other wireless communications
components. As these products become more complex, the need for IPFS'
experience in delivering high speed, performance driven components
continues to grow. Products manufactured in the company's 45,000 square
foot plant in Frisco, Texas, include:
* Metal Back Microwave Circuit Boards are used in military,
avionics, and telecommunications applications where high frequency and
high power generate large heat loads which must be dissipated. IPFS has
sophisticated machine shop and lamination facilities which make it one
of the only U.S. producers of metal back boards. Examples of metal back
boards include cell tower power amplifiers and commercial aircraft
collision control devices.
* High Speed Digital Boards are produced with a licensed
technology using insulated wires to build high-speed boards. IPFS is
one of the two licensees of this technology, known as "DWT", in the
U.S.
Currently DWT boards are used in telecommunications switching.
* Antennas are a specialty of IPFS because of its unique
capability to produce large format antennas up to 80 inches long. In
addition, IPFS' microwave expertise allows it to produce radar antennas.
Company products are used in cell towers, several U.S. missiles, and in
Navy Aegis warships.
* Value Added Components allow IPFS to deliver a more finished
product to the customer, saving manufacturing time and expenses. These
products are assembled on to basic boards and antennas produced by the
Company.
Data Streaming Technology
Through its subsidiary, Voium, IPFS empowers content providers, content
aggregators, content service resellers, mobile operators, and
information portals with turnkey technology and business solutions to
exploit new market opportunities for mobile information services.
Products include:
* Financial and news content services are provided by using
proprietary technology to extract data from a news source and send the
data to wireless customers of a telco. This service allows the news
source to generate additional revenue from its data and permits the
telco to enhance revenues from its customer base. The recently
announced partnership between Standard and Poors (News Source), Voium
and SingTel (Telco) is an example.
* Commercial Data Streaming Services allow customers to use the
company's technology to move data through wireless channels. Currently
developed products include an airport bird strike prevention system,
remote monitoring for petroleum products, and a wireless pest control
system.
* Wireless Broadband Services are available using a wireless
broadcast technology owned by a joint venture partner and licensed for
use in Asia. The technology allows wireless broadband service to be
delivered for a very low investment in infrastructure. The company is
currently working on proposals involving broadband Internet access and
pay per view television.
Technology
The manufacturing processes used by IPFS, with the exception of the DWT
Technology, are not
<http://www.hotpennies.net/images/IPFS/HPIM0609.JPG> patentable and are
commonly used throughout the industry. The Company does possess trade
secrets which is has developed to enhance its manufacturing processes
and enables it to produce difficult to manufacture parts. The DWT
technology is licensed to IPS and one other U.S. company.
The wireless data streaming technology is proprietary with patent
protection. The technology consists of four software platforms known as
V-Control, V- Charon, Mercury, and V-Phobus. These four platforms are
used alone or in combination to produce fourteen proprietary products
which are available to customers. The Company also owns, through a
joint venture, the Asian rights to the patented Wireless Broadband
Technology which allows deployment of wireless broadband services with
very low infrastructure cost.
IPFS Technology Delivers
* High quality, high performance microwave and high speed
components
* Ability to manufacture difficult to build products
* Communications technology which extracts selected data from a
database (such as Standard & Poors News) for wireless transmission to
Telco customers.
* The wireless broadband product can deliver high-speed data
transmission, including movies, over a wide area with total reliability.
IPFS Technology Benefits Include:
* Manufacturing processes and technologies continually updated
through interaction with clients
* Ability to work with difficult materials such as Teflon
* Quick turn around time on new products
* Communications platforms recognized as best in Singapore by IBC
and Mobile Metrix
* Wireless Broadband Technology allows coverage of large areas at
a fraction of the cost of competing technologies
MARKET DESCRIPTION
Manufacturing
IPS targets customers using high frequency, high speed, high performance
components. These customers, reached through a system of manufacturer's
representatives and in-house sales personnel, fall into three markets:
* Defense Market demand for microwave products continues to
expand as "Smart" wireless systems become a focus of U.S. defense
strategy. Thus, makers of "Smart" bombs, GPS guided missiles, radar
tracking systems, and upgraded aircraft systems are customers of IPFS
* Avionics Market demand for products, such as the collision
avoidance device made by IPFS, has seen a decline after the September 11
airline-manufacturing slump. This market continues to show weakness,
but signs of revival in the airline business may indicate that the worst
is past.
* Telecommunication Market demand for microwave
infrastructure and switching products suffered an abrupt reversal as the
result of the tech meltdown of 2001 and September 11. However, the need
for continued technical improvement and increased customer demand for
wireless communications is creating spending pressure as balance sheets
of telcos improve. Growth in sales of power amplifiers are projected to
increase 25%, to over $300 million, by 2004 while antenna sales are
projected to grow at a rate of 30% per year from $100 million through
2005. Overall, the wireless communications market is expected to grow
40% through 2005. Thus, the Company expects significant growth in its
telecommunications business over the next few years.
Data Streaming Technology
Financial and News Content Services
The Company's Asian business focus is on demand for wireless
communication platforms by matching content providers looking for new
markets with telcos looking for new revenue sources for their existing
customer bases. Thus, Standard and Poors News and Financial Information
is now available to four million Singaporeans through Sing Tel. Beyond
Singapore, however, the Chinese market looms with hundreds of millions
of subscribers as potential users for the technology, as do markets in
Australia and Eastern Asia. The Company anticipates breaking into these
markets through existing relationships in these countries.
* Commercial Data Streaming Service
The commercial data streaming market in Asia is growing as more
and more companies find it advantageous to enhance their productivity
through use of wiring technology. For example, the company has
developed wireless technology in partnership with a leading pest control
company in Singapore which promises to revolutionize the worldwide pest
control supply industry. The Company is seeking strategic partners in
other industries such as oil and gas, to exploit its technology in this
immense and growing market.
* Wireless Broadband Service
While the cities of Asia are often well served by broadband
infrastructures, there are large areas where services are not available
because of infrastructure cost. The Company's wireless broadband
technology can provide the interconnection solution, and the Company is
actively pursuing negotiations with strategic partners in Singapore,
China, Australia, Thailand, and other Asian countries. In addition,
some Asian telcos have expressed an interest in using the technology to
broadcast pay per view television. Thus, the company can leverage into
the multi-billion build out of Asian wiring infrastructure through its
existing relationships.
Management
D. Ronald Allen 53 President & CEO
William C. Robinette 60 Technology Manager
Ben Ng 40 President of Voium
Danny Kolb 47 Plant Manager
Steve Hallmark 50 Sales Manager
Brooks Harman, Jr. 56 Director
MILESTONES ACHIEVED
* More than 20 years as a manufacturer of high performance
components used in defense avionics and telecommunications industries.
* Blue chip clients in U.S. and Asia.
* Earned quality manufacturing recognition from Lockheed Martin
and Rockwell.
* Became a fully reporting public company, trading on the OTC BB
under the symbol "IPFS"
* Survived industry shakeout through triple dip recessions caused
by the tech meltdown, September 11, and the pre-Iraq war slowdown.
* Acquired Voium, Singapore based company recognized as a wireless
industry leader by IDC and Mobil Metrix
* Received record defense orders after Iraq war began with
deliveries boosting 3rd quarter sales over 2nd quarter sales.
* Rolled out wireless data streaming joint venture with Standard
and Poors and SingTel in Singapore, proving concept for China and other
markets
* Achieves positive EBITDA in fourth quarter on strength of
increased telecommunications orders.
[Chart] <http://finance.yahoo.com/q/bc?s=IPFS.OB&t=1d>
DETAILS
Index Membership: OTCBB
Sector: Technology <http://biz.yahoo.com/p/_techno.html>
Industry: Computer Services
<http://biz.yahoo.com/p/_techno-cmpsrv.html>
Market Cap: 15.5 Million
HEADLINES
Webcast Alert: Integrated Performance Systems' Chairman
Interview to be Webcast on Vcall.com
<http://biz.yahoo.com/prnews/030923/dctu026_1.html>
Tue, Sep 23 - PR Newswire
Integrated Performance Systems Retains Mergers and Acquisitions
Consulting Firm and Investment Banker
<http://biz.yahoo.com/bw/030919/195380_1.html>
Fri, Sep 19 - Business Wire
Integrated Performance Systems Asian Subsidiary Launches S&P
Wireless Financial Services Through Singapore Telecommunications
<http://biz.yahoo.com/bw/030821/215286_1.html>
Thu, Aug 21 - Business Wire
chart chart
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