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Comdial: Thriving Amid Challenges in the Market

Discover how Comdial outperforms competitors despite financial hurdles & introduces successful products, improving financial stability. Explore reasons for market success and financial gains through data analysis.

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Comdial: Thriving Amid Challenges in the Market

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  1. Comdial Market Success Comdial Outperforms Market and Competitors, Despite Poor Market Conditions and Challenging Financial Situation December 18, 2001 Mark Lindsay

  2. Agenda • Why has Comdial enjoyed market success? • What about Comdial’s financial situation? • Outperforming the market • Growing market share • Beating the competition • First Reporting of IP PBX Numbers for Comdial Comdial Corporation Confidential

  3. Reasons for Comdial’s Market Success • Introduced great products this year • FX II in March • DX-80 in April • FX II Networking in April • iPrimo in October • Continued dealer loyalty • Installed base momentum Comdial Corporation Confidential

  4. Comdial’s Improving Financial Condition Income Statement Data • Change in YTD revenues vs. last year exceeded market by 5% • Phillips still estimates that market revenues are off 26.8% for 2001 • Comdial revenues are off 22% from $80.6M YTD3Q00 to $62.7M YTD3Q01 • Decreased fixed manufacturing overhead by $15M or 18% of revenue • Improves profitability and enables Comdial to weather market downturns • Improved gross profit by 72% from $4.3M in 3Q00 to $7.3M in 3Q01 • Reflects streamlined product lines and outsourcing efforts • Cut SG&A by at least 35% • Consolidated operations and reduced work force by 75% from 1,000 employees in 2000 to 250 employees in 2001 • Net loss reduced 41.7% from $5.1M in 3Q00 to $3M in 3Q01 Source: Phillips InfoTech: Key/Hybrid Shipment Summary: Lines, Systems, and Revenues Estimate Comdial Corporation Confidential

  5. Comdial’s Improving Financial Condition Balance Sheet Data • Outsourced manufacturing and sold facility and equipment • 50% of workforce was related to manufacturing • Reduced bank debt by $15M or 40% from $38M in 2000 to $23M in 2001 • Hired Raymond James to assist with debt restructuring Comdial Corporation Confidential

  6. Systems Comdial Performance versus the Market

  7. 11% Increase in Units Shipped(as compared to same period last year) Systems Source: Phillips InfoTech 3Q01, Key/Hybrid System Shipments Comdial Corporation Confidential

  8. 41.5% Growth in Market Share(as compared to same period last year) 5.5% 3.9% Systems Source: Phillips InfoTech 3Q01, Key/Hybrid System Shipments Comdial Corporation Confidential

  9. Increased Market Share in a Down Market(as compared to same period last year) Comdial Increases 11% Market Decreases 21.5% Systems Source: Phillips InfoTech 3Q01, Key/Hybrid System Shipments Comdial Corporation Confidential

  10. Systems Comdial Performance versus the Competition

  11. Largest Unit Growth(as compared to same period last year) Systems Source: Phillips InfoTech 3Q01, Key/Hybrid System Shipments Comdial Corporation Confidential

  12. Largest Market Share Increase(as compared to same period last year) Systems Source: Phillips InfoTech 3Q01, Key/Hybrid System Shipments Comdial Corporation Confidential

  13. Stations Comdial Performance versus the Market

  14. 1.8% Increase in Units Shipped(as compared to same period last year) Stations Source: Phillips InfoTech 3Q01, Key/Hybrid Stations Shipments Comdial Corporation Confidential

  15. 34.6% Growth in Market Share (as compared to same period last year) 7.0% 5.2% Stations Comdial Corporation Confidential

  16. Stations Comdial Performance versus the Competition

  17. Largest Market Share Increase w/o Mergers (as compared to same period last year) NEC and Nitsuko merger Stations Source: Phillips InfoTech 3Q01, Key/Hybrid Station Shipments Comdial Corporation Confidential

  18. Largest Unit Growth w/o Mergers (as compared to same period last year) NEC and Nitsuko merger Stations Source: Phillips InfoTech 3Q01, Key/Hybrid Station Shipments Comdial Corporation Confidential

  19. IP PBX Comdial Submits IP PBX Shipments

  20. Entered 5th Slot in IP PBX Segment Comdial 5% Systems Source: Phillips InfoTech 3Q01, IP PBX Converged System Shipments Comdial Corporation Confidential

  21. Thank You

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