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Technology Stocks : Stratex Networks, Inc. (STXN)
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To: Richard Knox who wrote (1260)1/18/2001 11:27:47 AM
From: Rob Preuss  Read Replies (1) of 1762
 
Rich,

I'm not sure if I have the energy to summarize (transcribe?)
the conference call as I have in past quarters. I listened
and was generally quite pleased. You might check out the
notes posted by fun-da-mental-man on Yahoo. Also, you can
(should) listen to a replay on the telephone or on the web.

I think I heard them say the new 311 Mbps products will
be introduced next month (which I think is a month ahead
of schedule) and they will be in full production about
3-5 months after that. Since the 622 Mbps products are
really two 311 Mbps units packaged in the same housing
(its not a whole new radio development... just some
software "glue" and packaging), they will follow swiftly
after the successful introduction of the 311 Mbps products.

Although they're guiding GM to reach only 35% by the end
of the year... they still believe their long-term model
of GM to be in the 36-38% range is appropriate for their
business. So I expect to see a slow steady rise in GM
over the next 6-8 quarters. They're projecting EPS to
be $0.16-$0.18 next quarter... $0.59 to $0.61 for FY01...
then, for FY02, they're projecting EPS of $0.70 to $0.80
with revenues over $500 million. These are conservative
projections based upon the current market climate and
they do NOT include significant income from sales related
to 3G infrastructure buildouts... so if that happens we
could see significant up-side revisions as the year
progresses.

Generally, demand is strong and things are good. They have
no specific plans regarding the $300 million shelf
registration they filed recently... its good for 2 years
and they felt it was prudent to have this ready in case
some juicy opportunity presents itself.

Rob
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