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Comdial Market Success

Comdial Market Success. Comdial Outperforms Market and Competitors, Despite Poor Market Conditions and Challenging Financial Situation December 18, 2001 Mark Lindsay. Agenda. Why has Comdial enjoyed market success? What about Comdial’s financial situation? Outperforming the market

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Comdial Market Success

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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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