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Technology Stocks : FORE Inc.
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To: Jerome Hay who wrote (2465)4/18/1997 11:59:00 PM
From: Glenn D. Rudolph   of 12559
 
Jerome,

Here is the present analyst estimates from Zacks:

FORE SYSTEMS 4/12/97
ZACKS ANALYST WATCH

MEAN HIGH LOW NUMBER MEAN CHG
EST LAST MNTH
($)
FISC YR END 3/98 0.62 0.84 0.38 15 -0.20
FISC YR END 3/97 0.51 0.56 0.48 15 -0.04
VS ACTUAL 3/96 0.37

QUARTER END 3/97 0.11 0.16 0.09 15 -0.04
VS ACTUAL 3/96 0.11
QUARTER END 6/97 0.12 0.19 0.07 7 -0.05
VS ACTUAL 6/96 0.12
NEXT 5 YR GRTH (%) 40.08 50.00 25.00 12 -4.05

Note the quarter that ended 3/97 at .11 versus the quarter that
ended 3/96 at .11. Also, note estimate for quarter ending
6/97 compared to the quarter ending 6/96. Both are .12.
What is the growth there? Zero I believe.

The company is not going bankrupt. I also am very long
FORE but am concerned about zero growth. As far as FORE being
in Ethernet, I believe not. FORE believes in only one strategy
which is ATM. There have been a variety of articles on this issue with
interviews of the CEO. Note FORE's home page indicates all roads
lead to ATM. ATM is their only product to the best of my knowledge.
The plus side is their ATM is the finest on the market. I suspect
your thoughts that FORE was involved with Ethernet was the recent press
release about their ATM products being price competive with Ethernet.
That sounds like a plus but it cuts gross margins on FORE's products.
The first assumption is many network equipment buyers were opting for
the less expensive Ethernet. FORE needed to combat that so had to
reduce price.

Glenn
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