Mattie,
Don't know if you still have tern. It looks better and better each day.
Terayon shares rise after cable modem certified
NEW YORK, Sept 2 (Reuters) - Shares of Terayon Communication Systems Inc.
(Nasdaq:TERN - news) rose sharply on Thursday after it received industry certification for
modems that offer high-speed Internet access over cable television lines.
Santa Clara, Calif,- based Terayon became the first company to pass the CableLabs test on
its first try. The test looks to see if a company's cable modems can communicate with other
systems that operate using similar technology.
Shares of Terayon rose $4 to $37.44, a gain of nearly 12 percent, in Thursday afternoon trading on Nasdaq.
The certification, which clears the way for Terayon's modems to be used by major cable operators, broadens the company's
list of potential customers, said analyst Jeff Lipton of Hambrecht & Quist, which underwrote Terayon's initial public offering in
1998.
CableLabs said companies such as 3Com Corp. (Nasdaq:COMS - news), Cisco Systems Inc. (Nasdaq:CSCO - news), and
Sony Corp. , have passed its cable modems certification test.
Companies are competing to provide cable modems, which can handle telephone, cable television and Internet service coming
into a home through a single line.
Lipton said Terayon's certification demonstrates the overall strength of the company.
''Their execution has just been flawless to date,'' Lipton said. ''It demonstrates there strong technical capabilities.''
Iris |
