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MRV COMMUNICATIONS (MRVC) 21 +2. Shares of this once high-flying networking stock are receiving a strong lift at the
open on positive comments from its Pres/CEO, who said his company continues to experience strong orders and sales. "In
contrast to recent announcements by other vendors, we have not experienced any moderation in sales in Japan or Europe. In
fact, we are seeing accelerating growth in these parts of the world. Our business continues to be robust across all product lines,
including those in our relationships with key strategic partners: Intel, Fujitsu, Digital Equipment and Newbridge Networks." Citing
strong shipments of its MegaSwitch II triple speed Ethernet/Fast Ethernet/Gigabit Ethernet switch, MRV expects to report 1st qtr
revenue growth in excess of 100%, allowing the company to achieve its 29th consecutive quarter of sequential growth. For the
1st qtr of 1996 the company reported revenues of $15.5 million and net income of $1.9 million, or $0.09 share. Though MRV's
boast of more than 100% top line growth sounds extremely impressive, it does not seem quite as significant when placed against
MRV historical revenue numbers. For instance, MRV recorded 4th qtr revenue of $31 million and full year revenue of $88 million,
increases of 142% and 127%, respectively. Regardless, the momentum players who drove these once high-flying shares to a
52-week high of $40.25 are grabbing the news and running with it, rewarding the company's CEO for playing their type of game.
MRV plans to report final results on April 28 . |
