GTE Message Board - Msg: 1460862

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Technology Stocks : GTE

GTE 4.445

+2.1%

Nov 12 3:59 PM EST

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To: Malcolm Grover who wrote (94)	5/23/1997 9:00:00 AM
From: DWB	of 671

In addition to the outlay for buying BBN (600+ million), they also announced an increase in expenditures over the next 2 years for capital spending related to builiding up infrastructure. The CEO made statements to the fact that this would cause profits to only increase in the single digits for this year and next, but then increase 30% over earlier projections for 99 and beyond. The earlier projections had been for 10-15% growth in profits for the forseeable future. All this had the cumulative effect of driving out the short-term investors, giving us long-termers another great opportunity to buy. If you're in for more than 3 years, GTE is now a fantastic bargain. Remember, the CEO would only be giving his worst estimate for growth, hoping the company would subsequently "exceed" the new expectations down the road to benefit shareholders... DWB

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