Applied Micro Circuits Corp (AMCC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Applied Micro Circuits Corp (AMCC)

AMCC 8.450

0.0%

Feb 3 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Kayaker who wrote (509)	6/6/2000 10:18:00 PM
From: SJS	Read Replies (1) of 1805

More data.....sounds like a backpeddling..... ________________ Applied Micro Circuits Shorts Out on Revenue Report By Angela Privin Staff Reporter 6/6/00 9:46 PM ET Applied Micro Circuits (AMCC:Nasdaq - news - boards) dropped 13% during the day and continued to sell off late night after Bloomberg reported that revenue from the company's sales to Nortel Networks (NT:NYSE - news - boards), its biggest customer, was below expectations. Officials from Applied Micro Circuits said today that sales to Nortel Networks, a telecom company that represents 40% of the semiconductor company's revenue, were only growing by 10% instead of the high to mid-teen percentage growth figure projected by the company. William Bendush, Applied Micro's chief financial officer, said the percentage of sales coming from Nortel will decrease, but he didn't say by how much. However, Bloomberg did not report that revenue from products sold to other companies was growing by 30%, according to the company's investor relations department. "We don't like how high our customer concentration is with Nortel and are glad that our revenues are becoming more diverse," said an investor relations official. The company dropped 7 7/8 to 99 on 120,000 Island shares and fell 8 13/16 to 98 on 140, 000 Instinet shares

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next