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HDTV deal with LGE means upside

Spatialight, Inc.: Rodman comments on impact of LG Electronics deal (HDTV) 5.18 -0.46: Rodman and Renshaw comments on HDTV's 3-year agreement with LG Electronics (L.E.G.). Firm believes the contract not only represents material upside to their prior model, but also validates the co's technology, which in turn should help mgmt close additional contracts, and as such are raising their 2005 est. Firm believes that the L.E.G. business could generate $60 mln in 2005 sales, on total shipments of 161K chip sets. On the China front firm expects the China business to be weighted toward the New Year there in Feb 2005, and are shifting out their expectations into 2005. For 2005, Rodman is raising revs est to $92 mln from $59 mln and raising EPS to $0.19 from $0.04.

After the news, the stock actually went down, hitting 6 yesterday. I believe the view is this changes nothing until 2005, so why move now. LGE news was out previously, w.r.t the joint work.

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