Hat RMG Networks die Chance auf die 4 Dollar?

https://www.youtube.com/watch?v=AYqlwJQmttQ  

Das ist doch ein super Zeichen, wenn eine qualifizierte vernetzte Person wie John K. Moore sich für RMG Network entscheidet.

DALLAS, TX--(Marketwired - Mar 16, 2016) - RMG Networks Holding Corporation (NASDAQ: RMGN), or RMG Networks™, a leading provider of technology-driven visual communications solutions, has announced the hiring of John K. Moore as its new Senior Vice President, Client Services - North America. Moore will be responsible for managing RMG's Professional Services and Creative Services teams. Moore's primary objectives will be to: expand the scope / depth of RMG's consulting services; add a new strategic element of RMG's value proposition for its customers; optimize the overall customer experience and client satisfaction emanating from RMG's services and bolstering the revenues of the Client Services organization.

Moore brings a wealth of management consulting experience, previously holding executive and partner-level positions with global firms such as Arthur Andersen & Co., Accenture, PwC, Andersen, and Perot Systems. His expertise spans strategy development and innovation, process design and improvement, organization alignment, and profitable leverage of enabling technologies. Moore will leverage this expansive background to add new and innovative best practices into the organization.

"I'm honored to be joining such an experienced and innovative team, whose customer-first approach is second to none and consistently delivers strong client results," Moore said. "I look forward to building new client relationships and developing existing ones while leveraging RMG Networks' well-known standard of excellence when it comes to customer service."

"As RMG continues to grow, we will rely on John's proven track record of providing excellence in delivering outstanding service, quality and innovation for customers," said Robert Michelson, chief executive officer and president of RMG Networks. "John's industry expertise will be instrumental in both expanding our client base and further advancing our existing customer relationships."

Moore holds a Bachelor of Aerospace Engineering from the University of Michigan and a Masters of Business Administration from the University of Southern California.

STRONG BUY ZIEL 4 USD!  

Bitte anschnalllen der D-Zug fährt bald ab nach Peking.  

RMG Networks steht laut der Roth Konferenz mit über 40 neue Kunden im Bereich Supply Chain Solutions in Verhandlung. Davon sind alle Großunternehmen mit über 20 Vertriebscenter. In den letzten 3 Monaten hat RMG Networks 6 Pilot-Lösungen dort installiert.

http://www.rmgnetworks.com/blog/...dium=social&utm_source=twitter

Wenn ein Großkunde zugreift, geht die Aktie durch die 4 USD.  

DALLAS, TX--(Marketwired - Apr 7, 2016) - RMG Networks Holding Corporation (NASDAQ: RMGN), or RMG Networks™, a leading provider of technology-driven visual communications solutions, today announced it received a letter from the NASDAQ Listing Qualifications Staff on April 5, 2016, notifying the Company that it regained compliance with NASDAQ's minimum bid price requirements for continued listing.

Robert Michelson, chief executive officer and president of RMG Networks, commented, "We value our NASDAQ listing, which is important in maintaining liquidity in the trading of our common shares, and are pleased that we have been able to regain compliance with NASDAQ's minimum bid price rule."  

"The fundamentals of our business continue to improve each quarter as we execute against our strategic plan to deliver innovative and value-added solutions in new market verticals and further diversify sales beyond our core contact center business," commented Robert Michelson, Chief Executive Officer. "We are particularly encouraged by the improvement in the efficiency and productivity of our sales organization during the first quarter, which drove a 25% increase in product revenue on a year-over-year basis. Simultaneously, our cost rationalization efforts over the past year resulted in a 22% year-over-year decline in operating expenses, ultimately driving a $1.2 million improvement in EBITDA."

"We made progress on our key growth initiatives, including closing sales orders for three supply chain pilots, a million dollar retail banking deal and a $425,000 deal with a large telecommunications customer," Mr. Michelson continued. "We also advanced discussions with specific, targeted, third-party sales channel partners, who have the potential to augment our growth, and look forward to announcing new partnerships in the coming months. Overall, we are pleased with the strategic and financial progress made during the first quarter. We continue to broaden our customer base, expand our pipeline with larger and more meaningful sales opportunities and are optimistic in our outlook for 2016."

Business Outlook

"As expected, we experienced the historical seasonality that generally impacts our revenues in the first quarter," noted Mr. Michelson. "Despite top-line seasonality, we narrowed our first quarter EBITDA loss to just over $400,000, a significant improvement over the EBITDA loss reported in each of the first three quarters of 2015 and every quarter of 2014. Looking forward, we are encouraged by the progress we continue to make in our key growth initiatives, and believe the investments we are making in our sales organization will lead to continued sequential revenue growth in 2016."  

Eric Gomberg, Dane Capital Management - Analyst [16]

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That sounds great.

I guess last question, and you said, I think reasonable to good text, but just curious you talked in the prepared remarks about your confidence in terms of executing the long-term objectives. Bob, one of the things I like is you tend to be fairly understated. So hearing this confidence in hearing you today is nice change.

Without putting you down in terms of what long-term objectives are, I know you've had some options, re-prices in the quarter with the data. I usually don't like such things, but I'm very happy to have an incentivized Alliance deal to see that you have executed the plan. so may be big picture, I'm not trying to put you down. But when you think about long-term objectives what you think this company could be over time, how should we as investors think like that?

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Bob Michelson, RMG Networks - CEO [17]

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That's a great question and we probably spend more time on that topic at our board meetings than anything else. I joined the company and was incentivized by two things. One, was on the company's position in a really interesting growth industry, and two, my ability to make a lot of money and not salary bonus, but through equity. And you know, for me -- I guess everyone wants to make a lot of money but I want to be able to make millions and millions of dollars. And you know I certainly go back and do the math and say, "you know, to get where I want to get to and it's not just me -- obviously, I'm doing this for the stockholders -- this company needs to be significantly larger." And I didn't come to a company that was grow at like you 5% or 10% per year. You know, if you take a look at public companies, they get higher multiples when their growth is 20% plus.

I'm not here giving guidance that were going at 20% plus. But I'd be very disappointed it as a business, if we are not doing that even better in the long term. And that's what makes great value for our stockholders. And as we sit back internally and build our strategic plans, we are looking at what we can do organically, we are looking what we can do with what the marketplace to potentially do some acquisitions over time.

You've never heard me talk about acquisitions and I've been very careful with our leadership team not to get distracted during my initial tenure because we had to get our cost structure down and we had to build a foundation before we can start looking at acquisitions.

Right now we have no major acquisitions that we are on top of, but I can tell you, we long-term are going to do everything we can to take advantage of this market position we have to make RMG a fast-growing company and a profitable company. That's why I came here I and I know as investors, everybody wants to grow fast but we have to build the foundation first and I think were well on the way to this turnaround.

I can't say we're 100% there in single aspect but you know, I see many of the signs that we are making progress we want and we have not -- and I personally have not changed my view of where the opportunity is in this business long-term.  

https://www.youtube.com/watch?v=_bIo9euY1nE

InView soll ein Potential von 2 Mrd Dollar Umsatz haben.  

DALLAS, TX--(Marketwired - Jun 7, 2016) -  RMG Networks Holding Corporation (NASDAQ: RMGN), or RMG Networks™, a leading provider of technology-driven visual communications solutions, has announced the hiring of Jerry Rosen as its senior vice president, global chief marketing and creative officer.

As RMG Networks continues to evolve its positioning to provide enhanced value to its customers, the company is elevating its capabilities and product suites by provisioning more advanced innovation and strategic creative solutions. Rosen brings a degree of expertise, relationships and leadership far beyond what the company has enjoyed to date in these areas.

Rosen's contributions will further advance the company's positioning as an innovative and creative strategic partner with its clients, producing engaging digital content across state of the art technology for visual communications.

A native of Chicago, Rosen is a veteran advertising executive with a career that started at ad agency Campbell Mithun Esty. After Campbell, he opened his own agency, DiMeo Rosen Partners, in 1990 with the Chicago White Sox as its flagship client followed by the Bulls, Bears and other notable clients. He brings a plethora of experience to his new role, which includes holding founder and partner-level positions with The Plum Tree Group and ENRE@CH. As a visionary in the marketing and creative industry for more than three decades, Rosen has led organizations in strategizing, creating and delivering some of the most compelling creative content across broadcast, print and digital channels. His work has been earned more than 40 creative, advertising and marketing excellence awards prior to joining RMG Networks.

"Jerry has demonstrated a tremendous amount of success as a respected leader in the marketing and creative industries throughout his distinguished career," said Robert Michelson, chief executive officer and president of RMG Networks. "His expertise in those areas provides us with a major asset as we develop awe-inspiring creative content as a strategic partner with our customers."

Now poised to enhance RMG's global marketing and creative divisions, Rosen will also have an integral role in continuing the expansion of RMG's already prominent client base by introducing industry-leading digital content solutions to prospective organizations.

"It's an exciting time to be joining the company as we develop engaging digital solutions that will drive visual communications for some of the world's largest brands," Rosen said. "I'm looking forward to being a part of the next generation of integrated digital content that RMG Networks is developing for its clients."

Since 2014, Rosen has been proud to serve as vice chairman of Worldwide Partners, Inc., the largest global network of independent advertising and marketing communications agencies with 65 partner offices in over 50 countries with annualized billings of over $2.3 billion.

Ich rieche hier geht es bald ab. Immer mehr kompetentes Personal wechselt zu RMG Network und zu CEO Michelson. Hier kommt was in den nächsten Wochen.  

The Emerging Role Of Big Data And Visualization In Manufacturing

Consider the case of Fujitsu: The company installed displays on the shop floor that provide at-a-glance information about production efficiency and the number of errors in each process. The result? Errors that took six experts six hours to resolve can now be corrected in an hour by anyone on staff.

Productivity is down, but the amount of available production data is rapidly increasing. In combination with effective data analytics, it's possible to improve supply chain connections, identify root causes, and improve employee efficiency and morale.  

RMG Networks: Growth Inflection Should Drive Multi-Bagger Return

Summary

We expect RMG Networks to experience top and bottom line growth beginning in 2Q, with dramatic acceleration in 2017.

Potential near-term partnership announcements should drive additional investor focus and upside to shares.

At 0.7x EV/revenue, valuation is extremely low versus software/services peers, leaving room for substantial upside if the company performs as we believe it will.

We believe RMGN will be a $3-$5 stock within 12-18 months, versus Friday's close of $1.03.

Last December, we wrote a Top Idea about RMG Networks (NASDAQ:RMGN). Since then, shares have returned 50%, but we believe shares have much further to go. We expect the company to experience positive top- and bottom-line comps beginning in 2Q, as well as positive adjusted EBITDA and cash flow. We believe that by 4Q, the company should generate adjusted EBITDA of $1.5-$2.5 (our conservative model suggests $1.6 million), implying shares currently trade at a very undemanding 3x-5x year-end run-rate EV/EBITDA. As we discuss below, we expect growth to accelerate meaningfully in 2017. Further, at 0.7x EV/revenue, RMG is about as cheap as it gets in the software/services sector, with a valuation reflective of a company that is facing extreme challenges, not one on the cusp of a growth inflection. We believe RMGN will be $3-$5 stock in 12-18 months, 3-5x its current share price.

In this article we will:

Briefly review RMG's business
Review recent business trends
Discuss our visit with management at the company's Dallas, HQ
Potential for partnerships to accelerate growth
Review our model and valuation
RMG Networks background

Since we've previously written on RMG, we're going to keep this introduction brief.

RMG Networks is a $35 million enterprise-value company (with net cash) that provides software and solutions for organizations to communicate information internally and externally on displays (although one of its next generation solutions, InView, is for monitors and smartphones as well). Unfortunately under prior management, RMG presented itself as much more of a products/display company, both to its customers and to the investment community. However, the company does not manufacture or install displays, and under its new management - its 8 top employees have been at the company for less than 2 years - it is selling higher up in organizations as it positions itself as a value-add software/solutions provider.  

RMG Networks: Growth Inflection Should Drive Multi-Bagger Return

http://seekingalpha.com/article/...flection-drive-multi-bagger-return  

DALLAS, TX--(Marketwired - Jun 23, 2016) -  RMG Networks Holding Corporation ( NASDAQ : RMGN ), or RMG Networks™, a leading provider of technology-driven visual communications solutions, has announced the hiring of George Clopp as its senior vice president, chief technology officer.

As RMG continues to evolve its positioning to provide enhanced value to its customers, the company is elevating its capabilities and product suites by provisioning more advanced innovation and strategic technological solutions. Clopp brings a degree of expertise and leadership far beyond what the company has enjoyed to date in these areas.

Clopp's skill set eclipses standard software development and includes a robust level of expertise in infrastructure architecture, data warehouse, big data reporting and analytics, complex deployments and robust operational support for multi-terabyte systems.

Throughout his more than 20-year career, Clopp has focused on leading and delivering complex mission-critical software systems for some of the leading companies in the world including FedEx, Bloomberg, Macy's, Walgreens, Hilton, Exxon, Shell, JCP and the NFL. He has also led development teams of more than 200 people for several Silicon Valley companies and developed a strong foundation from his experiences at Bell South and Deloitte.

Most prominently, Clopp recently spent six years at Epsilon, one of the global leaders in "turning data-driven marketing into lasting relationships." Epsilon's market-leading technology, using a combination of systems and data/analytics, drove the company's immense success.

Robert Michelson, chief executive officer and president of RMG Networks, indicates "RMG is advancing its positioning and value to our customers by providing digital communication solutions that drive customer actions (sales and/or conversions) and employee engagement. Clopp's background in complex system development and data analytics are a perfect combination to accelerate and complete the value we will be bringing to our customers."

"It's amazing to join a company like RMG that has established an industry-wide reputation for developing innovative digital solutions," says Clopp. "I'm eager to work with RMG to develop next generation complex systems for some of the most recognizable brands worldwide."

Clopp has showcased his technical experience by designing and implementing mission-critical systems in the healthcare, financial, retail, travel, pharmaceutical, banking, aerospace, telecom, shipping and brokerage industries prior to joining RMG Networks. He holds an MBA from Southern Methodist University.

RMG Networks eine Firma mit 35 Mill Unternehmenswert gewinnt einen der besten vernetzten qualifiziertesten Person in der Branche. Die Produkte müssen solch ein enormes Potential haben, dass nach Jerry Rosen mit George Clopp der nächste Top Mann die Firma verstärkt.  

RMG Network braucht jetzt Abschlüsse Abschlüsse und Abschlüsse mit großen Neukunden dann geht es ganz schnell.  

Bloß was, wissen nur die Insider!  

... aber ich möchte den letzten Abschnitt von der 2. Quartal-Konferenz 2016 hier reinstellen:

Bob Michelson

Thank you, operator. And thank you RMG investors and friends for listening to the call. I guess I want to leave you with kind of my thoughts on the business. I certainly was disappointed that in the last quarter, our revenues were flat with the previous quarter. But, as I think about the company and the fundamentals of our business, I really couldn't be any more proud or excited about the future. And I just want to share a couple of things with you and kind of thinking extemporaneously.

When you think of a business, the first thing you look at is what's the health of the industry segment you are in. And there is an organization you may meet many of you never heard of called Frost & Sullivan, which is one of the leading consultants to the digital signage industry. And their data indicates that the market is growing from $16 billion or $17 billion, I don't remember the exact amount in 2015, I remember $27 billion in 2022. That's a CAGR of almost 7% and the software components even growing faster and not just the industry we are in.

And I'm just really optimistic about where we are going, based upon a number of things as Eric just mentioned our installed base; we got 70 out of the 100 largest customers which is really cool. Our North America business which is really a bellwether, it was up 15% in revenues in Q2 over Q1 and the sales orders in the first half of the year were up 20% over the previous year. I mean, I think that's just a really good predictor of the future. Certainly, we are frustrated that the international business was down 24% in the last quarter and if we would have had a similar 15% internationally, we would have had a great quarter. And international didn't do poorly because our business fundamentals are broken in those two areas, just due to these macro economic conditions, it had the short-term impact.

So, I do think that are fundamentally our revenues and our customers and what we are doing is really resonating. And you add to that at least three new channels announced one Manhattan, which I think is really cool, it's going to take some time.

Our supply chain business is really starting to mature now with Manhattan part of it. I think our dream of creating a business sector that eventually could grow to -- our contact center businesses is clearly in place. The enhanced positioning we have in our new content services with Jerry Rosen on board is really cool. I don't want to just limit it to Jerry. Our sales organization has really picked up very nicely and can take the messaging that Jerry has created and brought it to the market.

Our data and analytics capabilities that George Clopp is bringing is really fundamental. I just want to remind everybody, what we are doing is, we provide this infrastructure which are there for years, now we are going to be providing content. And the final piece, the value to customers is data and analytics, we can part with our customers, so they can determine which content has provided the greatest impact, the greatest engagement, the greatest sales.

Again, if you have that knowledge, then you know in real-time, what content to produce in front of the right person. And we never had that capability, which I think is just really cool.

And finally, and most important, if you guys remember, I was at a private equity firm for four years and I spent a lot of time with -- our CEOs at 34 portfolio companies, the most important thing of the business and determining the future was the stature of their leadership team. And I had been here now for just about 2 years and I don't know if this is good or bad, but I turned over the entire leadership, I would say it's good. I really just don't question myself. But, I will tell you each individual on the team or A+ folks. And not only individually are their skills outstanding, but from a collaborative standpoint, how we work together.

So if I had to predict, if you are in a really good industry sector that's growing and you got some decent strategies and you have a great leadership team, you are going to produce great results. I know as investors you are all patient and we want to see results today. And we are doing everything we can to drive revenues. But, I will tell you in the long-term, we have a built a foundation and a strategy and leadership to take us to the place we want to be. So, I remain as optimistic in fact, I'm more optimistic today than ever.

So, I thought I would leave with those kind of extemporaneous comments. Thank you everybody for your attention and interest and we look forward to talking with you about our Q3 results.

Man kann natürlich sagen nichts als Worte, aber der CEO Bob Michelson hat Erfahrung. Wenn er nach zwei Jahren im Amt den turn-around schafft und mit den neuen Produkten die Umsätze ankurbelt, ist bei der sehr gut Marge schnell ein dicker Gewinn drin.

http://seekingalpha.com/article/...6-results-earnings-call-transcript

http://rmgnetworks.com/

Ich bleibe bei 4 USD in 2016!!!  

https://www.youtube.com/watch?v=OR5d0Rca9_c&feature=youtu.be

Ich denke ja immer noch ,dass das visuelle intelligente supply chain Produkt eine noch größere Innovation ist. Das Management muss bloß mal verkaufen.  

... das Produkt visual intellectual supply chain solution.

http://rmgnetworks.com/blog/...ibility-to-increase-your-productivity/

Das ist doch fast ein Muss für unsere digitale Welt, den Vertrieb zu digitalisieren. Der Markt ist extrem unbesetzt. Wenn RMG Networks es schafft einige Topunternehmen zu gewinnen, dann ist die Marketcap von 30 Mill USD ein Witz.  

https://www.sec.gov/Archives/edgar/data/1512074/...6000738/a12994.htm

Manchmal kotzen mich die Manager und ihre Entscheidungen an!  

.. gelabbert in den Konferenzen. Ich bin schon leicht angepisst von den letzten Tagen und die Alarmglocken läuten lauter. Mit einer Kreditlinie von über 7 Mill, Cash von fast 3 Mill USD und im letzten Quartal ein Cashoutflow von unter 200T USD ist eine Ausgabe von neuen Aktien zu diesem niedrigem Kurs total unnötig. Wenn jemand hier investiert ist bitte schreibt eine Mail

brett@haydenir.com  

Für mich ist alleine das Produkt "Inview" viel mehr Wert.

Mark Ragan, president and chief executive officer of Ragan Communications. "RMG's expertise in pioneering innovative, robust internal communications technology will certainly produce tangible benefits to our clients and the Internal Communications industry. We look forward to providing a rapid and deep exposure of RMG INVIEW™ to the Internal Communications industry via our expansive array of conferences, webinars, and thought leadership."

https://finance.yahoo.com/news/...cations-inc-announce-213200369.html  

DALLAS, TX--(Marketwired - Oct 19, 2016) - RMG Networks Holding Corporation ( NASDAQ : RMGN ), or RMG, a leading provider of technology-driven visual communications, has announced the addition of RMG MAX, customizable LED display solutions for indoor and outdoor market applications. RMG's new MAX series is a continuation of a heritage began over 35 years ago when RMG launched its industry leading LCD display screens.

The LED display market for outdoor digital signage is projected to grow 26.5% CAGR from 2016 to 2024, to exceed $22.4B in 2024. RMG is ideally poised to participate in this growing market as it leverages the existing relationships with its customer base including many of the largest companies in the United States and leading customers throughout Europe and the Middle East.

RMG MAX is a new state of the art visual communications solution built on the unmatched performance of LED panel technology and RMG's world-class content management powerhouse. MAX rounds out RMG's product offerings with a wide range of configurable LED screen sizes to deliver large-scale messaging and information with high impact and engagement.

"RMG is one of the few digital signage companies offering a full custom LED solution that scales to high image HD quality, 4K and beyond," says RMG President and CEO Bob Michelson. Further, Michelson indicates: "Combining this exciting new LED technology with our high-quality content management software positions RMG to develop a new revenue stream."

RMG MAX LED display signs are fully customizable featuring multiple options in indoor, outdoor, mesh, and curved screens with no size limitations. RMG MAX screens are perfect for retail, campus, stadiums, hospitality, and real estate development applications and are flexible enough to be displayed anywhere.

"RMG MAX LED solutions are a great addition to our strong visual display product lines, providing even more options for our customers," says Michelson. "We are excited to deliver brilliant content on a much larger scale across a wide range of indoor and outdoor environments. MAX is the latest breakthrough product in our over 35-year history of implementing state-of-the-art technology around the world."

RMG MAX LED visual solutions integrate with RMG's current software and creative content media players to further leverage the strength of existing platforms. The dependability of MAX LED, along with RMG's one point of contact for a turnkey solution, provides another dynamic solution in RMG's arsenal of digital signage communications for customers.

For more information on RMG MAX and how intelligent digital signage solutions can improve business productivity, visit http://rmgmax.com.  

https://www.youtube.com/watch?v=_aJ2yjjO6yQ  

Empfehle jedem Investor den conference call!

http://ir.rmgnetworks.com/phoenix.zhtml?c=251935&p=irol-IRHome

EBITDA positiv mit 85T Dollar
Umsatz ein bisschen schwach mit 9.5M Dollar

Problem scheint die Middle East Division zu sein mit Millionen abgeschlossener Verträge auf Eis, da der Ölpreis den Emiraten und den Auftraggebern zu schaffen macht.

Produkte wie Inview, RMG Max, visuelle Supply Chain Solutions etc. werden die Umsätze bald anwachsen lassen.  

This growth was fueled by the continuing performance of the North American sales organization. North American sales increased 20% year-to-date compared to last year and even faster in Q3 with sales increased of 29% on a year-over-over basis. The traction we are gaining each quarter is encouraging and a direct result of the improved sales effectiveness and our focus on larger, more profitable deals.

Internationally, we experienced a noticeable rebound in sales within Eurasia during the quarter following a slowdown over the last several quarters as a result of the economic uncertainty associated with Brexit. This rebound is encouraging. In the Middle East, oil price volatility continues to impact the region in a significant way. As a result, many of our customers have slowed spending and delayed the timing of certain orders. We continue to work closely with these customers and believe these orders are merely delayed.

Despite the oil price volatility, we are optimistic on the long-term outlook for the geography given our strong pipeline and key partnerships in the region. The second area I'm highlighting is the progress we have achieved in advancing several of our key solution areas, specifically supply chain, internal communications with our new robust mobile solution and a brand new solution offering for large, indoor and outdoor digital screens that is named RMG MAX.

The first solution area I'm going to highlight is RMG's Supply Chain Solution and the customer progress we achieved in Q3. As indicated over last several quarters, RMG has chartered into supply chain industry as a core focus segment. Our strategy to penetrate the segment has included developing a robust solution, establishing RMG's industry expertise and credibility, building a significant sales pipeline, converting the sales pipeline to paid pilots and, finally, converting pilots to general customer rollouts.

I am pleased to report that we have made significant progress in each area. The RMG solution has been well-received in the industry, and several of our co-consultants have been featured as keynote speakers at two recent supply chain conferences. As a result of our new higher profile, credibility and sales activities, we have built a sales pipeline including over 40 supply chain prospects.

As indicated on our previous call, RMG was contracted earlier this year to deliver pilots with three significant global companies. I'm delighted to report that each of these pilots have been extended as our respective customers have engaged RMG to investigate the feasibility of rolling out the pilot functionality across our organizations in 2017 and beyond. If the deals are completed, each of these rollouts have the potential to be a million dollars or more.

Beyond these three pilots, our internal sales efforts continue to grow our pipeline beyond the 40 prospects. Further, these pipelines continues to grow in size as a result of our efforts of our strategic supply chain partner, Manhattan Associates. I will provide more detail about the progress we are making with our channel partner, Manhattan. The supply chain business segment is progressing nicely and we believe it may become a significant revenue producer for the Company for the long term.

Die visuelle Supply Chain Solutions muß der Standard zur Steigerung der Effizienz im Distribution Centers werden, dann ist diese Lösung alleine 250 Mio Dollar wert.