WIND Upgrade/Downgrade:
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Charles Schwab WIND RIVER SYSTEMS INC
Company Research Report Prepared June 15, 2000 Page 5 of 6
¸ 2000 Charles Schwab & Co., Inc. Research On Request
News Headlines Source: S&P
6/5/2000 S&P MarketScope, Market Movers
UP 3 3/8 to 40... CS First Boston initiates coverage with strong
buy... Friday co. posted $0.11 vs. $0.11 1Q EPS from ops...
6/5/2000 S&P MarketScope, Views and News
11:17 am... WIND RIVER SYSTEMS (WIND 39) UP 2-3/8, CS FIRST
BOSTON INITIATES COVERAGE WITH STRONG BUY... FRIDAY
CO. POSTED $0.11 VS. $0.11 1Q EPS FROM OPS... Analyst Erach
Desai tells salesforce WIND's dominant market position,
technology breadth, strong growth opportunity position co. to
become leader in embedded systems software... Notes 1Q strong
y/o/y... Says key growth drivers include: rapid move towards 32-and
64-bit processor architectures, pursuit of unlimited bandwith
(communications) through middleware, the proliferation of
non-traditional computing/communications devices... Sets $540M
FY 02 (Jan) revenue est., $0.80 EPS... Has $66 target./M.Morrow
3/3/2000 Annual Results --
NEW YORK (Standard & Poor's)--Mar 2, 2000, WIND RIVER
SYSTEMS INC., announced 4Q EPS $0.17 vs. $0.19 and annual
EPS $0.50 vs. $0.58.
2/29/2000 S&P MarketScope, Market Movers
UP 7 7/8 to 58... Co. to acquire Embedded Support Tools Corp. for
6.3M shares of WIND... Expects deal to be accretive in first full
year of ops... Jefferies reiterates buy...
2/29/2000 S&P MarketScope, Views and News
10:05 am... WIND RIVER (WIND 53-5/8) UP 3 1/2, TO ACQUIRE
EMBEDDED SUPPORT TOOLS CORP. (ESTC) FOR 6.3M WIND
SHARES... JEFFERIES REITERATES BUY... Analyst Richard
Williams says after acquisition of privately-held ESTC, co. will be
strategically positioned to dominate embedded systems market
with end-to-end solution of "Post PC Era"... Reiterates $65 target...
Says ESTC is dominant vendor in small, but critical niche of
software tools market, which necessary to make real-time
embedded operations systems work reliably, optimally with
underlying processor chip... Thinks niche essential element in
larger trend to introduce intelligence into plethora of devices..
Sees $0.62 FY 01 (Jan) EPS, $0.85 FY 02./Wolfe
11/19/1999 Third Quarter Results --
NEW YORK (Standard & Poor's)--Nov. 18, 1999, WIND RIVER
SYSTEMS INC., announced 3Q EPS $0.13 vs. $0.16 and 9 mos.
EPS $0.33 vs. $0.40.
9/3/1999 Second Quarter Results --
Aug 19, 1999, WIND RIVER SYSTEMS INC., announced 2Q EPS
$0.10 vs. $0.16 and 6 mos. EPS $0.19 vs. $0.23. Results are
adjusted for January '99 3-for-2 stock split.
7/8/1999 S&P MarketScope, Market Movers
DOWN 2 3/4 to 14 5/8... Hambrecht & Quist downgrades to
market perform from buy... Co. unavailable...
7/8/1999 S&P MarketScope, Views and News
2:00 pm... WIND RIVER SYSTEMS (WIND 14-7/8) DOWN 2-1/2,
H&Q DOWNGRADES TO MARKET PERFORM FROM BUY...
Analyst Matt Belkin tells MarketScope customer survey indicates
WIND's flagship product Tornado II not ramping up as
anticipated... Also, Tornado for managed switches likely to be
delayed another 2-3 months... Says co. going through CEO
transition, management not talking... Cuts $0.73 FY 00 EPS on
$162M rev. est. to $0.63 EPS on $155M revenue... Although
believes WIND represents excellent long term investment, near
term uncertainty outweighs potential reward./S.Trombino |
