Mr. Johnson continued: “In our OEM business, we have recently been awarded several large programs by two major customers. We anticipate that these programs will begin to contribute meaningfully to revenues in the second half of fiscal 2012. In addition, we have experienced increased interest from several existing customers in both diabetic and consumer electronics products. We are committed to growing our OEM business and we are encouraged by the momentum we are experiencing in this channel. At the same time, there are also headwinds in this market, as we continue to face a very price-constrained environment and are looking at increases in supplier prices.”
“As previously announced, our strategy is to leverage our design, logistics, and sourcing expertise to build a global, multi-channel (retail, corporate, online and OEM) consumer electronics accessory brand that defines itself through leading edge technology. We have invested significantly in product development and sales resources in order to launch a “Forward” branded line of cases and accessories into the retail and corporate marketplace. This product range will include an extensive collection of cases for smartphones, tablets and portable computers, incorporating our exclusive license of G-Form’s revolutionary and patented protection technology.”
“We believe the investments we have made in experienced sales, design, product development, operations, and administrative personnel, will bear fruit in fiscal 2012 with the expansion of our product range, customer base and geographic coverage. As a result, we hope to achieve our goal of transitioning Forward from a predominantly “in-box” medical OEM case company, to a multi-channel, multi-product, geographically diverse business that differentiates itself through cutting-edge technology, design and innovation.”
The tables below are derived from the Company’s audited, consolidated financial statements included in its Annual Report on Form 10-K filed today with the Securities and Exchange Commission. Please refer to the Form 10-K for complete financial statements and further information regarding the Company’s results of operations and financial condition relating to the fiscal years ended September 30, 2011 and 2010. Please also refer to the Form 10-K for a discussion of risk factors applicable to the Company and its business.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV