PCTEL Simplifying Wireless Wireless Solutions For Private And Public Networks 1.
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Transcript of PCTEL Simplifying Wireless Wireless Solutions For Private And Public Networks 1.
Safe Harbor StatementSafe Harbor Statement
This presentation contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Specifically, the statements regarding PCTEL’s future business prospects, forecasted financial information, technology roadmap, strategy, and perceived growth opportunities are forward looking statements within the meaning of the safe harbor. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. These risks and uncertainties include, among others:
• demand for wireless broadband products; • PCTEL’s ability to develop and grow its wireless business;• PCTEL’s ability to implement new technologies and license its intellectual property; • competitive pricing pressures; • PCTEL’s ability to make accretive acquisitions and successfully integrate them; • PCTEL’s ability to contain operating expenses; and • demand for secure smartphones and Android platforms.
These and other risks and uncertainties are detailed in PCTEL’s filings with the SEC. The “forward-looking statements” contained in this presentation are made only as of this date, and PCTEL disclaims any obligation to update or revise them including the financial projections.
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AGENDAAGENDA
PCTEL History
Financials
Favorable Trends
Products, Competitors And Addressable Market
Key Applications
PCTEL Secure
Summary
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From Modems To WirelessFrom Modems To Wireless
2001-20122001-2012
Acquired (11): $88mAcquired (11): $88m Divested (3) $120mDivested (3) $120m
•Antennas ($66m)
•Scanning Receivers ($21m)
•Software Tools ($1.6 m)
•Antennas ($66m)
•Scanning Receivers ($21m)
•Software Tools ($1.6 m)
•HSP Modem ($55m)
•Mobility ($65m)
•European LMR ($.3m)
•HSP Modem ($55m)
•Mobility ($65m)
•European LMR ($.3m)
PCTEL simplifies wireless. We are the leading provider of specialized antennas to private networks and the dominant provider of scanning receivers to the cellular market.
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RevenueRevenue
$15.6
$17.8
($ in Millions)($ in Millions)
$17.3
$18.6$18.2
Consistent, Long-Term Growth With “Lumpy” Test and Measurement Business
$19.1$19.5
$20.0
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Solid Balance SheetSolid Balance Sheet
The Company Does Not Provide Balance Sheet GuidanceThe Company Does Not Provide Balance Sheet Guidance
(in millions) 12/31/2011
Cash and Investments $68.8
Debt $0
Share Count(Treasury method for EPS Calculation)
17.5
Total Shares (Including Restricted Shares)
18.2
NEO Stock Ownership 1.0M / 5%
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Major Trends Driving GrowthMajor Trends Driving Growth
LTE Explosion
In-Building and Offloading
Wire to Wireless Enterprise Transition
Vertical Market
Process Automation, Oil & Gas, Railroad, Fleet
Management, Cellular Offloading, Healthcare
Spectrum Crunch
Security Issues
PCTEL Flagship ProductsPCTEL Flagship Products• GPS Antennas – High
Interference Rejection
• Railroad And Commercial Fleet Tracking Antennas
• MIMO And Multiband Antennas
• MX Scanning Receiver
• ProsettaCore™
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Antenna ProductsAntenna Products
GPS/Timing
LMR/Public LMR/Public SafetySafety
™
Tradenames and Trademarks are the property of their respective ownersTradenames and Trademarks are the property of their respective owners
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Scanning Receiver ProductsScanning Receiver ProductsProduct Name Technologies
SeeGull® MXHigh Performance Multi-Band receiver for
LTE/WCDMA/GSM/CDMA/EVDOMulti-Technology networks
SeeGull® EXLTE, UMTS/HSDPA, GSM
WiMAX, CDMA/EVDO
SeeGull® CXUMTS/HSDPA, GSM
TD-SCDMA
SeeHawk®
Drive Test Application suite supporting all technologies, bands, and measurements
for the SeeGull scanning receivers product lines
Clarify® GSM
UMTS
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PCTEL CompetitorsPCTEL Competitors
Laird
Larsen-Pulse
Huber Suhner
L-COM
MTI Wireless
Rhode & Schwarz
JDSU
Boeing (DRT)
AntennasAntennas Scanning ReceiversScanning Receivers
Addressable MarketAddressable Market
18$30B +
Enterprise WLAN:$3B
Precision GPS: $3B+
Smart grid, Utilities, Oil & Gas, Process
Automation (SCADA):$15B+
Fleet Management & MRM:$2B
System Solutions TAM
Antenna And
Ancillaries5-10%
$1.5B-$3B
ScannersDrive Test Systems
$350M
$80M
Antennas And Ancillaries Scanners
Sources: VDC Research, IDC, Dell’Oro Group, Frost & Sullivan, Research And Markets, ARC Advisory Group, PCTEL Estimates
PCTEL TAM PCTEL TAM
Public Safety: $3B+
DOD: $3B+
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• Produces Measurements to Assess Performance and Diagnose Problems
• Key Characteristics: Accuracy, Speed, Signal Level, Multiple Simultaneous Technologies
• Crucial Data for Use in Planning, Deployment, and Optimization Tools (CLARIFY®)
• Technologies: GSM, WCDMA, HSDPA, EDGE, CDMA2000/EV-DO, WiMAX, TD-SCDMA, and LTE (FDD & TDD)
• Covers the Widely Deployed Bands: 450, 700, Japan 800, 850/1900, 900/1800, 1500, 2100, AWS, 2600, and 2500/3500 for WiMAX
Scanning Receiver Applications For Scanning Receiver Applications For Commercial CellularCommercial Cellular
Handsets ScanningReceiverGPS Receiver
Benchmarking or Test and Measurement Solution
OEM SYSTEM PCTEL
Ÿ WCDMAŸ
CDMAŸEVDO
Ÿ iDENŸ LTE (FDD/TDD)
Position and Call StatusNetwork
Characteristics
Ÿ GSM
SCADA Applications:SCADA Applications:Oil & Gas, Mining, Waste Water, Smart GridOil & Gas, Mining, Waste Water, Smart Grid
Rugged Yagi Antennas For Remote Monitoring Units
Embedded Antennas For Flow Monitoring
Meter Reading Antennas Infrastructure Antennas
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Instrumentation and Automation
Remote Monitoring and Data Transfer
Manufacturing and Process Control
ProductsProducts
Focus On Verticals Has Lead To Focus On Verticals Has Lead To New Opportunities and DirectionsNew Opportunities and Directions
Applications For Our Antennas
Applications For Scanning Receivers
Acquisition Ideas
Marketing Activities (e.g., No CTIA or MWC Booths; Instead “SCADA in Oil and Gas”)
Exposure - Through Defense Systems Integrators - To The Growing Problem Of Cell Phone Vulnerability
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Current RisksCurrent Risks Audio eavesdropping
Trojans, viruses, and other malware
Data interception (e.g. email or text messages)
Spying using the Microphone, GPS, Bluetooth, WiFi, etc
Location Information; Tracking
Industrial Network Hacking According to the U.S. Department of Homeland Security, attacks on critical
infrastructure jumped to 86 from 11 the same period a year ago (New York Times, March 13, 2012)
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PCTEL Secure™ ArchitecturePCTEL Secure™ Architecture
• PCTEL Secure™ Leverages SE Linux and the IsoCore® (Isolation core) Technology
• IsoCore Monitors Application Performance, Function and Anomalies
• Protocol Driven Inspection and Action
• PCTEL Secure IP Protocols Define the IsoCore Foundation
• PCTEL Secure Leverages Android Policies and Secure Applications.
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PCTEL SECURE™ AdvantagesPCTEL SECURE™ Advantages Behavioral vs. Taxonomic Analysis
Not looking for specific threats, viruses, files, or patterns, but rather any behavior
not allowed in the policy
Policies
Temporal in addition to cryptographic and other isolation methods
Sandboxing, virtualization, etc. cannot provide this level of isolation
Device Support
Moves easily to new devices without the re-engineering efforts involved in
porting virtualization or hypervisor solutions
IP Protection
Three Patent Disclosures
PCTEL Secure TimelinePCTEL Secure Timeline
Technical product requirements
complete
Technical product requirements
complete
OEM agreement with device
manufacturer complete
OEM agreement with device
manufacturer complete
Prototype dual-mode device
Prototype dual-mode device
Patent filed on base technology in
SCADA environments
(includes fixed wired and wireless)
Patent filed on base technology in
SCADA environments
(includes fixed wired and wireless)
Patent filed on secure kernel
technology
Patent filed on secure kernel
technology
Patent filed on base technology (ProsettaCore™)
Patent filed on base technology (ProsettaCore™)
Baseline product complete
Baseline product complete
PCTEL Inc. acquisition of all
PCTEL Secure LLC stock and assets
PCTEL Inc. acquisition of all
PCTEL Secure LLC stock and assets
Provisional patent filed on base technology
Provisional patent filed on base technology
SummarySummary PCTEL Assets
We have distinctive capabilities in wireless technology that are fundamental to our businesses
We have valuable customer relationships and access to distribution channels that allow us to exploit our capabilities
We have enviable positions in growing market segments including LTE, China, SCADA, Offloading, and Security
Strong financial characteristics
Growing Revenue and Earnings
Strong, debt-free balance sheet
We Have Opportunities (and past success) For Growth Through Acquisition.
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