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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

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Aug 15 5:00 PM EST

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To: Greg h2o who wrote (20112)	4/6/2000 4:35:00 PM
From: Greg h2o	Read Replies (1) of 42804

Tellabs falls on profit warning By Tiffany Kary ZDII Shares of telecommunications equipment company Tellabs Inc. (Nasdaq: TLAB) Thursday plunged in pre-market trading after the company warned it will miss first quarter earnings estimates. Shares were down to 52 before Thursday's opening bell after closing at 61 Wednesday. The stock had been faring moderately well since the company beat estimates in its fourth quarter. The company said its first quarter will be hurt in part by lower gross profit margins. Excluding one time gains and charges, diluted earnings per share are expected to be in the range of 25 cents to 27 cents, compared to First Call's consensus estimate of 30 cents a share. Tellabs said the quarter was derailed by higher-than-expected component costs, which "adversely affected profitability and manufacturing efficiencies." Product mix also hurt margins. The company said it has worked with its suppliers to obtain sufficient components, albeit at higher cost, meet demand. "In the first quarter, we satisfied very strong customer demand in the face of some not insignificant component issues," said Tellabs CEO Michael J. Birck, in a statement. "That, combined with the accelerated R&D and SG&A expenses we forecasted in January in support of major new products and some shifts in product mix, strained profitability during the quarter." Tellabs said that it remains comfortable with current full-year consensus earnings per share estimates. First Call's consensus of 30 analysts expects the company to rake in $1.66 a share for the year. The company expects to announce first quarter results on April 18.

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