EXHIBIT 99.1
MEADE
INSTRUMENTS CORP.
A World Leader in Design and Distribution of
Astronomical Telescopes, Binoculars and Riflescopes
FORWARD-LOOKING STATEMENTS
o This presentation, and discussions related to this presentation,
which are not historical facts may be considered forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Actual results could differ
materially from these forward-looking statements as a result of the
risk factors described in the Company's filings with the Securities
and Exchange Commission. In light of these risks and uncertainties,
there can be no assurance that the forward-looking information
expressed in this presentation will in fact transpire.
MEADE INSTRUMENTS CORP.
Nasdaq: MEAD
Common Shares Outstanding: 20.0 million
FYE 2003 Revenue: $110.8 million
FYE 2004 Estimated Revenue: $130.0 - $140.0 million
Market Cap: $70 million
OWNERSHIP
Management 8%
ESOP 9%
Institutions 59%
Mutual Funds 20%
Other 4%
MANAGEMENT TEAM
President and Chief Executive Officer 24 years
Senior Vice President - Sales 19 years
Senior Vice President - Manufacturing 16 years
Senior Vice President / Chief Financial Officer 10 years
Senior Vice President - Engineering 9 years
Senior Vice President and General Counsel 7 years
Senior Vice President - Corp. Development 5 years
Note: All time periods are approximate.
CORPORATE HISTORY
Founded 1986 Reacquired 1996 IPO 1999 Simmons Outdoor
1972 Sold 1991 ESOP 1997 Bresser Optik 2002
MEADE TODAY
o Branded Consumer Optics Company
MEADE
BRESSER
SIMMONS
WEAVER
REDFIELD
MEADE TODAY
o A World Leader in telescopes and sports optics
Meade #1 brand in telescopes worldwide
Bresser #1 brand in binoculars in Germany
Simmons top brand in mid-to-low priced sport optics in the U.S.
Weaver top brand in mid-to-high priced sports optics in the U.S.
Redfield specialty brand of sports optics in U.S.
MARKETING STRATEGIES
o Defining the brands
o Expand the category
o Consumer focus
o New product development
WORLDWIDE DISTRIBUTION
o Our major customers:
- Walmart - Aldi (Germany)
- Discovery Channel - Plus/Tengelm/KAIS (Germany)
- Jerry's Sport Center - LIDL (Europe)
- Dick's Sporting Goods - Broadhurst Clarkson Fuller (UK)
- Gander Mountain Worldwide - MIC International Corp. (Japan)
- Ellet Brothers - Astronomics
- Savage Arms - Sam's Club
- Cabella's - Brookstone
- Ritz Camera Center - Scope City
COMPLETE LINE OF TELESCOPES & ACCESSORIES
[PICTURES OF TELESCOPES & ACCESSORIES APPEAR HERE]
TELESCOPES
o Accessories
- Hardware
[PICTURES OF HARDWARE & SOFTWARE]
- Software
SIMMONS OUTDOOR
o A distributor and marketer of RIFLESCOPES and BINOCULARS for the sports
enthusiast and general consumer
o Owner of the Simmons(R), Redfield(R) and Weaver(R) brand names
SIMMONS OUTDOOR
[PICTURES OF RIFLESCOPES APPEAR HERE]
SIMMONS OUTDOOR
[PICTURES OF BINOCULARS APPEAR HERE]
BINOCULARS
CaptureView(R) - Integrated Binocular and Digital Camera
[PICTURES OF CAPTUREVIEWS APPEAR HERE]
Marketed throughout our worldwide distribution network
under the Meade and Simmons brand names
REVENUE BREAKDOWN
FISCAL YEAR 2003
[PIE CHART]
Telescopes 57%
Binoculars 24%
Accessories 9%
Riflescopes 8%
Other 2%
YTD 9 MONTHS FY04
[PIE CHART]
Telescopes 54%
Binoculars 21%
Accessories 5%
Riflescopes 17%
Other 3%
All percentages are approximate
FACILITIES
o California, Georgia, Germany, Mexico, China
o 500 employees worldwide
[PICTURES OF EMPLOYEES AT WORK APPEAR HERE]
BALANCE SHEET
11/30/03
--------
Current Assets $104.5 million
Total Assets $115.2 million
Current Liabilities $48.8 million
Stockholders' Equity $64.5 million
Tangible Book Value
(BV less Goodwill and Def'd Tax) $54.6 million
NET SALES & GROSS PROFIT
[BAR GRAPH APPEARS HERE]
[1998 THRU 2004]
Fiscal years ended February Thru Q3 ended Nov 30
GROSS MARGIN
[BAR GRAPH APPEARS HERE]
[1998 THRU 2004]
Fiscal years ended February Thru Q3 ended Nov 30
OPERATING MARGINS & NET INCOME
[BAR GRAPH APPEARS HERE]
[1997* THRU 2004]
Fiscal years ended February Thru Q3 ended Nov 30
* Before accretion on redeemable preferred stock and non-recurring ESOP charges.
MEADE OPPORTUNITIES
TOP-LINE GROWTH
- Product differentiation through innovation
- New products
- Expand market share in the sporting goods marketplace
MEADE OPPORTUNITIES
PRODUCT DIFFERENTIATION THROUGH INNOVATION
- AVOID commodities
- Leverage engineering in U.S. and China
- Complete product redesign in progress
MEADE OPPORTUNITIES
NEW PRODUCTS
- Digital laser range finder
- Night Vision
NEW PRODUCTS
Night Vision
[PICTURE APPEARS HERE] [PICTURE APPEARS HERE]
Laser Range Finder
MEADE OPPORTUNITIES
NEW PRODUCTS
- Smart Mount
- Autostar Suite with Meade LPI(TM) (Lunar Planetary
Imager/Autoguider)
MEADE OPPORTUNITIES
NEW PRODUCTS
o Meade Autostar Suite with Meade LPI(TM) (Lunar
Planetary Imager/Autoguider)
* WINNER OF POPULAR MECHANICS 2004
EDITOR'S CHOICE AWARD
MEADE OPPORTUNITIES
OVER $300 MILLION U.S. Meade percentages based on
fiscal year 2-28-03 sales
MARKET IN RIFLESCOPES AND
Meade 10% of
BINOCULARS Meade 6% of U.S. U.S. binocular
riflescope market market
- Estimated $175 million [PIE CHART APPEARS HERE]
binocular market in U.S.
94% of U.S. 90% of U.S.
- Estimated $150 million riflescope binocular
riflescope market in U.S. market market
- Prior to Simmons acquisition,
Meade had ~1% of U.S.
binocular market, no riflescopes
Note: all overall market information
is based on Company estimates only
BUSINESS CONSIDERATIONS
o Competitive and pricing advantages through innovation
o Market leadership
o Focused brand management and branding strategies
o Leveraged engineering and manufacturing
o Improving economy
o Strong and experienced management