ORCT-Very positive article on DSL and Orckit in Friday's Barron's Interative (see below on piece about Orckit).
"Levy also likes Orckit Communications (with a market capitalization of $475 million), which he rates a Buy, with a price target of 40 (it closed Thursday at 26 13/16). "They're the third largest vendor of DSL equipment in the world, behind Alcatel and Cisco," he says. Orckit has 17% of the global market, according to Dataquest, and its customers include Fujitsu, GTE and Deutsche Telecom.
Orckit's revenues from DSL more than doubled to $15 million in the third quarter of 1999, from $7 million in 1998.
"The market is just starting to take off," says Orckit president Izhak Tamir.
Orckit is 32% off its high of 38 7/16, and changes hands at a P/E of 15x expected 2001 earnings of $1.80, according to First Call. That's a nice discount to its projected 25% annual earnings growth rate." |
