1	Meade Instruments Corp. Investor Presentation February 2007
2	Safe Harbor During the course of this presentation the Company or its representatives may make forward-looking remarks regarding future events or the future financial performance of the Company. We wish to caution that such statements are just predictions and actual events or results may differ materially. We refer you to the documents the Company files from time to time with the SEC. These documents contain important factors that could cause actual results to differ materially from those contained in any forward-looking statement of the Company made in connection with this presentation.
3	Table of Contents Our Business Meade in May 2006 Immediate Actions Taken The New Meade Blocking and Tackling Fiscal ’08 Discussion
4	Meade Instruments Global consumer optics company with worldwide brand recognition in telescopes, binoculars, riflescopes and other optical products Founded in 1972 Nasdaq: MEAD Market Cap: $59.1 million Shares Outstanding: 20.1 million Insider Ownership: ~30%
5	Consumer Preferred Products
6	Sales by Product (as % of total, F ‘07 YTD)
7	World Class Customer Base
8	Meade in May 2006 Award-winning products with Worldwide recognition Strong global distribution network Essentially no processes for running the business 750 SKUs worldwide, $34,000,000 of Inventory Major Supply Chain problems with critical, “bread and butter” products: For Example: Simmons Riflescopes Lengthy “time to market” new product development Minimal integration of acquisitions Oversized with Facilities and Employees Increasing SG&A, Declining margins Two fiscal years of losses (F’05 and F’06)
9	Immediate Actions Taken Recruited Operations and Manufacturing veterans New SVP Operations New VP of Manufacturing Engineering New VP Materials New Director of International Manufacturing New Director of Quality New Manager of Operations Began development of processes and accountability in all areas Consolidated U.S.-based manufacturing and distribution Closed Tuscon Closed Salt Lake City Closing Thomasville
10	Immediate Actions Taken (cont) Started process of rationalizing inventory levels and eliminating slow moving and obsolete products Feb ’05…$47,100,000 Feb ’06…$34,400,000 Feb ’07…$28,000,000 Est Continued process of rightsizing the employee base Dec ’04…578 Dec ’05…338 Dec ’06…282 Hired 360 Sourcing to partner in China
11	Immediate Actions Taken (cont) Began to rebuild the Senior Management Team Consolidated Sales Force Management Hired Marshall Assoc. to focus on “Big Box” retailers Rationalized customer relationships Eliminated inventory balancing returns Increased investment in new product development Increased Engineering headcount by +50% Increased Active Projects by 100%
12	FY 08 and Beyond: Work the Initiatives Fundamental: Build stockholder value as the world leader in optical products for recreational consumers. Immediate Initiatives: Fix the Operations Increase Margins Reduce Operating Costs Develop New Products Improve Customer Service Grow the Business where it makes sense
13	Initiative: Increase Margins to over +30% in 3 – 5 years Moved ETX Production out of Irvine, California Make Chinese production more efficient Reduce shipping costs by improving deliveries of riflescopes and other asian sourced products Capitalize on 360 Sourcing to impact first cost Reduce spread between Gross and Net Sales Returns Mark downs Quality
14	Initiative: Reduce U.S. Operating Costs to ~ 20% in 3 – 5 years Dramatic reduction in headcount levels Elimination of “one time” charges Option Issue Severance Reduction in facilities costs
15	Mission: Rationalize Inventory Sku Count Dropping F ’06 – 1099 skus F ’07 – 673 skus F ‘08 – 570 skus Inventory Dropping F ’06 - $34,400,000 F ’07 - $28,000,000(e) F ’08 - $27,000,000(e)
16	New Product Development 7 New Product introductions in F ’08 New Categories Telescopes Riflescopes Cameras More in F ’09
17	Meade: Sales & EBIT The Past & the Future
18	Sales Growth Drivers Short-term: Fixing the supply chain New product introductions Long-term New product introductions Increasing marketing of under-marketed high profile brands Expanding “big box” relationships New adjacent and OEM business categories
19	Operating Projections
20	Longer Term Financial Targets Revenue Growth 7 – 10% New Products, Riflescopes Gross Profit Margin 32 – 37% SG&A % 22 – 27% Operating Income Margin 10 – 15%
21	Closing Commentary Fixing the Supply Chain More efficient and effective Production Quality On-Time Deliveries Improving Margins Lower Costing Less Airfreight “in” Better Quality Reducing SG&A Headcount Facilities “Faster to Market” New Product Introductions Growing Sales Bigger/Better Sales Force On-Time Deliveries Re-introducing Profit to Meade Instruments Corp. Stockholders
22	F ‘07 Balance Sheet (select items)
23	F ’07 Income Statement