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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	7/11/2001 6:46:35 AM
From: Sharck	of 37746

CMVT shorts, getting an indication of -4 from yesterdays close: Comverse Tech sees results below expectations WOODBURY, N.Y., July 11 (Reuters) - Telecommunications software maker Comverse Technology Inc (NasdaqNM:CMVT - news) on Wednesday said it expects earnings for the rest of the year to be below analysts' expectations as its customers delay purchases in light of the poor economic climate. Comverse said it expects second-quarter earnings will be about 28 cents a share, excluding a previously announced one-time charge of up to $9 million from its recent work force reduction, and up to $15 million for investment write downs. The company also said it expects third and fourth-quarter earnings will be about 20 cents and 23 cents, respectively, excluding one-time charges. Wall Street analysts polled by Thomson Financial/First Call had on average expected the company to post a profit of 43 cents a share for the second quarter, 45 cents for the third quarter and 48 cents a share for the fourth quarter. For fiscal 2002, the company said it expects earnings per share growth of 20 percent to $1.37. The First Call consensus estimate for fiscal 2002 is $1.79 a share. Shares of Comverse closed at $39.02 on the Nasdaq stock market on Tuesday.

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