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Technology Stocks : Ciena (CIEN)
CIEN 257.30+4.0%Jan 28 4:00 PM EST
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To: James Fulop who wrote (9473)8/18/2000 1:14:28 PM
From: JimieA  Read Replies (2) of 12623
 
Did anyone have a chance to read Ciena’s 10-Q?

I am impressed at how fast Ciena releases it. I normally have to wait about 40 days for the other compaines I invest in. They must have a pretty good financial system.

One item that worries me is a large, I assume overdue receivable.

“The accounts receivable balance from one of CIENA's customers was approximately 13% of total July 31, 2000 trade receivables. While the customer is experiencing certain financing difficulties, management believes that CIENA will be ultimately successful in collecting the July 31, 2000 net accounts receivable from this customer. Moreover, CIENA and the customer have agreed that CIENA has the option of converting some or all of the customer's outstanding accounts receivable balance into capital stock of the customer, subject to negotiation of definitive documentation by both parties and any necessary approvals by the customers shareholders.”

I don't really like the idea about getting stock for receivables. Anyone know who the customer is?

This raises a question of if the telecom carriers finances will weaken with so much competition in telecommunications and large capital expenditure requirements. And how this will effect equipment suppliers like Ciena.
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