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Technology Stocks : Network Appliance
NTAP 115.66-2.9%Dec 12 9:30 AM EST
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To: Lynn who wrote (2678)3/15/2000 2:07:00 PM
From: pirate_200   of 10934
 
From Lynn's ML post:

>  NTAP shares are weak today on what we believe
> is a misinterpretaion of comments by NTAP?s CEO
> who is on the road in Asia. During the CEO?s
> presentation he referenced round numbers of $500
> mill for revenue in FY00 which he expects to
> double to $1 bn in FY01. We believe investors
> mistook this as the CEO lowering the
> company?s forecast for revenue for FY00.

I agree that round numbers can be the issue. However, Dan &
Company have been pretty good about sticking to the standard
party line of: "We try to grow 100%, but we expect over the
long term to gravitate towards the growth rate of the NAS
market in general". He apparently got into specifics this
time and ended up with this mess.

CEO's should just parrot the party line and not freelance.

>  We are currently estimating revenue of $570 mill
> in FY00 (4qe $171 mill). We spoke with company and it
> confirmed it is not changing its outlook for revenue.
> We are estimating revenue of $922 mill in FY01 and we
> believe the CEO?s comments could indicate the company
> is bullish for next year?s outlook

This is still screwed up. He says $570M for FY00 with 4Q of
$171M but they have already booked $379M so $570 - $379 is
$191M not $171M!

I'll assume $570M is correct, $191M is the target for Q4
which is 112% increase in revenue Q4 FY99 to Q4 FY00.

This makes sense given the bullish back-to-back stock
splits. Maybe I'll mail Merrill's Steve M. a TI BA-35
solar calculator to help with his math. :)
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