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Technology Stocks : Ciena (CIEN)
CIEN 271.32+7.2%Feb 6 4:00 PM EST
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To: Chris Fischer who wrote (129)4/29/1997 10:57:00 PM
From: Stewart V. Nelson   of 12623
 
Chris

I like CIEN's prospects also but your reference to "how easily they through Pirelli out of Sprint is inaccurate." CIEN worked with Sprint for well over one year to put together their relationship. Currently Sprint is considring other vendors as a second source for WDM. Most large carriers will not single source these types of purchases. CIEN will also get competition from OC-192 equipment (Nortel maybe?).

As a data point to predict future revenue, Sprint purchased $50M in WDM equipment from CIEN in 1996 and has committed to $130M in 1997. Not quite 3X times last years revenue, but impressive to say the least, just from one customer. WorldCom has designated CIEN as sole WDM supplier through the end of this year. AT&T could choose CIEN as a second vendor behind LU.

Regards

Stewart V. Nelson
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