Collins Stewart, LLC

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• Collins Stewart, LLC
• Fourth Annual Growth Conference
• July 9, 2008

Safe Harbor Statement Under the Private
Securities Litigation Reform Act of 1995 This
presentation contains forward-looking statements
that involve risks and uncertainties. Statements
of the Companys plans, objectives, expectations
and intentions and statements containing terms
such as believe, expects, plans,
anticipates, may or similar terms are
considered to contain uncertainty and are
forward-looking statements. Similarly,
statements that describe the Companys business
strategy, outlook, objectives, plans or goals
also are forward-looking statements and are based
on information available to management at the
time of such statement. Such statements are not
guarantees of future performance and involve
risks, uncertainties and assumptions, including
risks related to the ability to integrate the
acquisitions as planned, the ability to compete
in the highly competitive markets, rapid changes
in technologies that may displace products and
services sold by the combined company, declining
prices of networking products, the combined
company's reliance on distributors, delays in
product development efforts, uncertainty in
consumer acceptance of the combined company's
products, changes in the companys level of
revenue or profitability, expectations and
stability of the international business
environment in which the company operates,
availability and cost of raw materials and labor,
loss of major customers or significant change in
demand from company forecasts, projections of
future performance, future financial and
operating results, as well as the other risks
detailed from time to time in the Companys SEC
reports, including the report on Form 10-K for
the year ended August 31, 2007. The company does
not assume any obligation to update any
information contained in this release. This
disclosure speaks as of the date of its most
recent posting July 9, 2008, and the Company
cannot assure its accuracy after that date and
does not undertake to update the disclosures
contained herein.
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RFM Value Creation Strategy for Customers and
Shareholders

• Build upon our established profitable, cash
  generating core business in Wireless Components
  and low power radio technology

1979 thru 2006 Core Business RF Components
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Simple Connectivity
to millions of
processes, devices, and machines
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Global Connectivity
to billions of
processes, devices, and machines
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Transforming Margins

• Commitment to leadership position in the emerging
  M2M market
• Broadest embedded module offering in the
  marketplace based on various radios
• Emphasis on increasing gross margin and
  optimizing operational efficiencies
• Value-added application and services software
  capability for enterprise-class EAM and CMMS
  deployments

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Revenue and Margin Expansion
Goal Increased Revenue Expanded Margins
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• Product Mix Shift towards Wireless Solutions
• Fabless business model for components

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• Economic Pressure Refine Focus
• Two Distinct Offerings
• Sizable, Profitable Hardware Products Offering,
  with Positive Cash Flow
• Solutions Offerings for Emerging Markets
  Requiring Continued Ongoing Investment and is not
  yet Profitable
• Monitoring near term indicators and events to
  determine our level of investment
• Returning to Profitability and Positive Cash Flow

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• Decisive Actions
• Fabless Business Model (5.0M in Annual Savings)
• Consolidation, Centralization and Process
  Efficiency Initiative (1.7M in Annual Savings)
• Restructuring
• Reorganization
• Consolidating Office Space (400K in Annual
  Savings)

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• Growth Opportunities
• Chinese Cellular Base Stations Filters
• Satellite Radio Penetration Filters
• Medical Low Power Radios, Modules
• Vehicle Tracking Low Power Radios
• M2M Single Chip ZigBee Modules
• Facilities Management Custom Module Solutions

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FinancialHighlights
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• Q408 Guidance
• Overall Flat to Slightly up from Q308F
• Sales 12.5M - 13.5M.
• Gross Profit Margin 35.0 - 37.0
• EPS NonGAAP Loss 0.04 - 0.09 / share

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• 2008 FY Estimates
• Sales - 56.0-57.0M. Flat with 07F
• Gross Profit Margin 37-38 Approx
  500 Basis Points Improvement
• Non-GAAP EPS Loss 0.03-0.05 / share
• Full Year Operating Cash Flow Neutral to a Small
  Net Cash Investment

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• Summary
• Building upon a core profitable and positive cash
  flow Hardware business
• Implemented a series of cost reduction
  initiatives
• Monitoring near-term events to determine
  investment levels in the new business based on a
  goal of profitability and positive cash flow by
  early in calendar year 09

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