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Technology Stocks : Westell WSTL
WSTL 6.130+8.7%Nov 26 3:52 PM EST
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To: John Curtis who wrote (20843)10/17/2000 5:29:14 PM
From: Czechsinthemail  Read Replies (2) of 21342
 
CMTN gave a very weak forecast for next quarter and next year. You are right that they attribute it to weakening orders from the CLEC's. Though WSTL sells primarily to the ILEC's, I'm sure the concern is that a falling tidal wave will sink all ships.

Here's the CMTN information excerpted from its earnings announcement:

``We are very pleased with our financial results and execution for our third fiscal quarter. These results are especially gratifying given the increasingly competitive landscape faced by our competitive local exchange carrier (CLEC) customers,'' noted Rick Gilbert, president and chief executive officer of Copper Mountain. ``However, in light of recent reductions in capital expenditure forecasts from many of our CLEC customers, we expect revenue and earnings to decline in the fourth quarter of 2000 on a sequential basis. For the fourth quarter we currently expect to achieve net revenue of approximately $60.0 million and pro forma, fully-taxed, earnings per share of between $0.04 and $0.06. We expect these trends in the service provider landscape to impact our financial results for 2001 as well. Although the uncertainties in the marketplace make forecasting for fiscal year 2001 extremely difficult, we currently expect to achieve net revenue of between $300.0 million and $330.0 million and pro forma, fully-taxed, earnings per share of between $0.16 and $0.25 in fiscal year 2001.
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