ASND-CSCC merger and CSCC warning about earnings.
WESTFORD, MASS. (March 30) BUSINESS WIRE -March 30, 1997--Cascade Communications Corp. (NASDAQ:CSCC ), a global provider of carrier-class Frame Relay and Asynchronous Transfer Mode (ATM) switching products, which today announced a merger with Ascend Communications, Inc., announced that it expects to report revenues and earnings that are below analysts' expectations for the quarter ended March 29, 1997.
Based on current information, Cascade estimates that revenue for the first quarter of 1997 will be approximately $90 million. The Company expects that earnings per share for the first quarter, excluding a one-time charge associated with the acquisition of Sahara Networks Inc., will be in the range of $0.14 to $0.15 per share.
Cascade expects to report its actual first quarter 1997 results after the close of the financial markets on Thursday, April 10, 1997. |
