Turnstone Systems, Inc. (TSTN) Message Board

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Technology Stocks : Turnstone Systems, Inc. (TSTN)

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To: Qtrlytrades who wrote (21)	4/25/2000 8:31:00 AM
From: Glenn Petersen	Read Replies (1) of 64

TSTN set for a monster opening: zdii.com April 24, 2000 6:13pm ÿ Turnstone blows past 1Q expectations ÿ By Sergio G. Non ZDII ÿ Turnstone Systems (Nasdaq: TSTN) easily topped analyst estimates and turned a profit in its first quarter as a publicly-traded company. After market close Monday, the provider of equipment and software for DSL networks reported fiscal first quarter net income of $4.6 million, or 14 cents per share. First Call's survey of three analysts predicted a profit of 3 cents per share for the quarter ended Mar. 31. That net income includes $1.8 million in amortization costs related to stock options. Shares of Turnstone traded as high as 79 15/176 in afterhours activity on the Island electronic communications network, following the earnings report. The stock closed Monday's regular trading at 65 15/16, down 11 1/16 for the session. First quarter revenue increased to $23 million, up 85 percent from $12.5 million in the fourth quarter. Turnstone went public in February. Competitors of Turnstone include Nortel Networks (NYSE: NT).

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