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Technology Stocks : TLAB info?

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To: Bob Monard who started this subject	7/19/2000 9:40:29 AM
From: llwk7051@aol.com	Read Replies (1) of 7342

Conference call notes. Done quickly so may be some errors. I recommend listen to call at the tellabs web site. Backlog record Optical Networking. Record 64% increase 528 mil Titan 5500 and 3200 great backlog Broadband 4 fold yr over yr. 20% of revenue growth for quarter triple for yr expected Managed digital network 90 mil expect flat for yr slight growth if take out currency translation. Echo Cancellation 30 per cent decline modest sequentially improve rest yr Salix family first shipment during quarter 3rd qtr significant sales 87 % of growth in customer service and solution business on track to be breakeven by end of year 53.7% gp two percent increase 54% expected gp for yr with some upside. 28% operating margin expect to continue to improve Tax rate down because of R & D credits. Expanded parts lead time trial activity and record backlog all caused inventory increase. Improved receivable 72 days, probably will stretch out Receivables up 15% well below sales growth rate Comfortable for eps estimates for rest of year Dxx below expectations as well as echo cancelars New dxx product delayed because of problems fixed now. Channel problem in dxx also. Not good problem with sales. Same true cancelars. Europe problem. Remedies for channel problems being worked on. Price and size not competitive. Some changes to help remedy this. Salix next generation. High expectations rest of year for this 7750 and isp version. Cablespan shows considerable strength. The huge demand caused some backlog because the ability to supply product was behind demand. Customers had problems keeping up with facility build out which also slowed sales. Should do very well as these problems are worked through. Fitful times during quarter impacted manufacturing efficiency. Don’t expect this to change. Also, some increase in material costs. Probably be up rest of year. Gross margin expect modest improvement rest of year although below what expected start of year. Second half demand unabated. Several field trials 6500 in demand. Expect release 6500 next month for limited availability. 6100 will release very soon will be in field trials also. 6500 revenue expectations for year in line what said to analysts. 2 to 3 percent revenue in new products is expected for year. Summer slowdown? Don’t see much of that. Some in Europe. Sequential improvement revenues quarter for quarter. Report card for systems is 65% growth units and 35% systems. 6100 first trial is in next couple weeks 6100. 6200 product fairly major contracts for it. 6200 and 6100 dense wave products 20 to 30 mil for yr possible. Cablespan is expected to show some gp improvement in fourth quarter and better next year. 7700 & 7200 product has a 25 mil estimate for year in sales. (Very good feedback.) Maybe triple that next year. Bell Atlantic over 10% of sales for quarter. Demonstrate bigger system than they thought at first. 6144 port system. It is being built now for trial. Titan 5500 is expected to grow 50% for year. Robert

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