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Technology Stocks : Ciena (CIEN)

CIEN 188.78

+1.0%

Nov 19 4:00 PM EST

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To: James Fulop who wrote (9787)	11/16/2000 10:04:42 AM
From: MarkC	Read Replies (1) of 12623

In the Boston Globe business section Nov 16, 2000 Sycamore allows 2 to buy on credit Sycamore Networks Inc. has joined rivals in extending credit to customers, a risky step the company said it needed to take to win contracts over larger competitors such as Lucent Technologies Inc. Sycamore, a maker of fiber-optic equipment, said it offered two unnamed customers a total of $200 million of financing to purchase its products. Loans to customers won't exceed $250 million in fiscal 2001, which ends in July, chief financial officer Fran Jewels said on a conference call. Sycamore never sold products on credit until its first quarter, even though many telecommunications companies make borrowing a condition for doing business. Sycamore said it's responding to competition. Chelmsford based Sycamore's shares rose $4.94 to $69.38. (Bloomberg)

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