Adaptive Broadband (NASDAQ:ADAP) Message Board

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Technology Stocks : Adaptive Broadband (NASDAQ:ADAP)

ADAP 0.0570

+13.5%

Oct 27 3:59 PM EST

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To: All Mtn Ski who wrote (143)	10/23/2000 7:56:37 PM
From: CanynGirl	Read Replies (2) of 215

I don't get it, what's the bear case for this stock? Why is it trading at $18 instead of $50? Excuse me if I get the numbers wrong, I'm suffering from a nasty cold today, but all this sounds to me like an incredible value: * 30% growth in Revenues seq qtr at a minimum * $120 mil in bank from sale of legacy biz * Profitability expected in March 2001 qtr * $1.5 billion contracted 5 year demand (about $300mil/year) * $72.4 mil in backlog * New orders of $30mill booked * Solid partners with 3 more expected on board in near future * Gross margins to rise to 40% by March qtr from 30% * Customer list that exceeds 60 customers So, for calendar year (CY) 2001, they expect to have a minimum of $195mil in revenues. So at a Price of $18, that's a forward P/S of 3.5. WOW! And that's their conservative estimate. Is it the CLEC blowups that's hurting it? They seem to have managed exposure to CLECS. I'm not sure what I'm missing. This seems like a no brainer. cg

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