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Non-Tech : Invest / LTD
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To: Peter V who wrote (11556)1/20/2000 7:35:00 PM
From: SJS  Read Replies (1) of 14427
 
CSFB report on CNXT......
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Conexant Reports $0.24 EPS, Beating Consensus Again. Management Ups 2000 Outlook for Revenue and Margins F2000E/F2001E: $0.86/$1.10

· Conexant beat expectations again reporting $0.24 EPS versus consensus of $0.20, on record revenue of $510 million coming from strength across all business segments.

· Equally impressive was the 320 basis points increase in operating income to 14.4% from just 11.2% in the September 99 quarter, achieved through tight cost controls and the increase in revenues.

· Given CSFB's role as advisor, CNXT remains a restricted name in our universe until the completion of its merger with Maker Communications.

· We have increased our estimates for FY00 EPS to $0.83 and FY01 to $1.10 (formerly $0.78 and $1.09) based on guidance by management of 40% revenue growth in FY00 and expectations of achieving 15% operating margins sooner than expected -- by the end of the fiscal year.
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