John-I listened to the cc. and the opinion I got was that Mike was telling it straight. He had figured that new products would be kicking in to help '99 results and they didn't, mainly because customers needed more time and development is so complex. The quarter results we saw were mainly older revamped products (Titan based) with so-so results in Martis area.
Now these results were decent and beat the street.
Ot-it's like Big Red Nebraska football team, ranked no. 3, relying on it's fullback to smash up the middle while still developing it's new trick plays, options and passing game to prevail for the rest of the season and go up in the polls. Sorry for the plug guys,but that is all we have in Nebraska,besides sage hens.
They are giving up on Erickson for international sales and going with their own sales force. The new optical hybrid products will be kicking in BIGTIME in 2000 and they are so optimistic they are building a new corporate headquarters on 55 acres.
I may give a executive summary of cc.,if I can get to it.
Overall,they are firing on 8 cylinders and I look for growth of gross revenues of 40% in 2000 and growth of net revenues in 2000 of about 46%+ . I was very pleased with prospects, mgt. team, answers to cc. and remain even more optimistic about Tellabs for the future 3-5 years.I have been following them for 4 years and those that follow my views know that I do my homework.
Good Hunting
DAVE DICKERSON |
