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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here

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To: Warren Gates who started this subject	2/5/2001 2:09:25 AM
From: Frank A. Coluccio	Read Replies (2) of 12823

COPPER MOUNTAIN EXPECTS 80% DROP IN Q1 REVENUES [from Converge!Digest] Copper Mountain reported that it expects Q1 revenues of $8-10 million, an 80% decline from the $47 million of sales for Q4 2000, citing the erosion of its CLEC customer base and an industry wide reduction in capital expenditures. The company’s customer base is comprised almost entirely of CLECs, which have been canceling and sharply reducing orders since the end of Q4. McLeodUSA represented 64% of Copper Mountain’s Q4 revenue, and Northpoint was one of the company’s biggest customers in 2000. Northpoint filed for Chapter 11 bankruptcy protection last month. In Q4, Copper Mountain took charges of $4.9 million related to receivables from Northpoint, and $35 million to reduce future inventory commitments and add to reserves for the possibility of excess inventory. The company has also implemented hiring restrictions and discretionary expenditure controls. Copper Mountain’s management said that it is nearly impossible to provide accurate guidance past the current quarter, and it expects the company’s challenges to increase in 2001. coppermountain.com

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