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Technology Stocks : Bay Networks (BAY)
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To: John Messbauer who wrote ()4/30/1997 9:20:00 PM
From: ioioioi   of 4270
 
BAY NETWORKS INC. (BAY) 17 1/2 +1 1/8. Shares of high speed routers, wide area network access
devices, local area networks switches, hubs and network management software are trading higher today
after the company's CFO David Rynne spoke at the Hambrecht & Quist Technology conference and said that
he sees revenues growing again in fiscal 1998 as 1997 revenues are projected to be flat. Mr.
Rynne did not say by how much he expected revenues to expand, but said that revenues would be
enhanced by the company's new Internet switching device, the SwitchNode. According to Mr.
Rynne, the SwitchNode is "the most fundamentally important switch for the future" of the company
and he expects that "it will become dramatically more important in the next generation of
switching." Revenues for the first three quarters of the fiscal year have grown less than 2% so far,
generating revenue of $1.55 billion versus $1.52 billion during the comparable period last year. The stock has
struggled for the past year as competition has eaten away at market share and dominance, and recent
revenue and earnings woes prompted the company to change management, recruiting well respected David
House from Intel last October. At the moment, the stock trade 13.8% above its 52 week low and significantly
below its $49 price reached in early 1996.
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