Globes, Tel Aviv, Israel, Shlomi Cohen column
Jan 14, 2013 (Globes - McClatchy-Tribune Information Services via COMTEX) --
Israeli companies will begin announcing their financials next week, but we will already know this week the way the wind is blowing, because almost all of them will attend Needham and Company's Growth Conference, which will run through Thursday in New York.
Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) chairman, president and CEO Eyal Waldman will make his first appearance on Thursday since the company's revenue warning. The company will publish its financials the following week.
Among the companies which have not published warnings, I expect optimistic presentations at the conference by Radware Ltd. (Nasdaq: RDWR) CFO Meir Moshe. The company's network traffic control and security solutions have had positive momentum for several quarters, in part through OEM agreements with Check Point Software Technologies Ltd. (Nasdaq: CHKP), Juniper Networks Inc. (Nasdaq: JNPR), and other manufacturers.
Like Check Point, more than a third of Radware's current value is in its net cash reserves, which I estimate at $280 million, and investors will want to hear from Moshe about the company's plans for this cash mountain, which will continue to grow.
Another interesting presentation at the Growth Conference will be made by Nova Measuring Instruments Ltd. (Nasdaq:NVMI; TASE:NVMI) president and CEO Gabi Seligsohn. The company today reaffirmed its guidance for the fourth quarter. Attunity Inc. (Nasdaq: ATTU) CEO Shimon Alon and Telit Communications plc (AIM:TCM) CEO Oozi Cats will also make presentations.
Nova, a manufacturer of metrology solutions for semiconductor production, has an excellent starting position for 2013. On one hand, major technological changes are underway in semiconductor production lines, which means strong demand for the company's products, and there will be major changes between the semiconductor manufacturers and their major customers, such as Apple Inc. (Nasdaq: AAPL), which will switch production from Samsung Semiconductor Ltd. to Taiwan Semiconductor Manufacturing Co. Ltd. (TWSE: 2230; NYSE: TSM), on the other hand. This means potential for more metrology solutions.
As for Attunity, I believe that 2012 was a year of its consolidation and recognition as a small supplier of cloud computing and big data solutions, following the company's bitter war for survival in 2009-11. The company is now growing rapidly on the basis of OEM and other cooperation agreements signed last year with IT giants. I believe that the share price will begin to respond, after jumping over the past few months to $7.50.
Telit is a global leader in the sale of wireless modules for machine-to-machine (M2M) communications, like the ones found in new cars, alarm systems, taxi hailers, vending machines, and a great many other applications. The company is profitable, and probably passed the $200 million sales threshold in 2012.
The interesting thing about Telit, and Cats will probably expand on this point at the conference, is that it established a services support arm last year, mainly for European customers, on the basis of contracts with Telefonica SA (BMAD; NYSE: TEF; LSE: TDE). Two weeks ago, Telit acquired a small US services company on the basis with contracts with AT&T Inc. (NYSE: T), which will give Telit a strong foothold in the US market.
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