Oclaro, Inc. (Avanex-Bookham) Message Board

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Technology Stocks : Oclaro, Inc. (Avanex-Bookham)

OCLR 8.260

0.0%

Dec 10 4:00 PM EST

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To: ahhaha who wrote (1526)	1/26/2001 12:01:47 AM
From: Kerry Lee	Read Replies (1) of 2293

I don't have time tonight to debate every single on if your points defending the current valuation of AVNX which was "only" $300 million higher yesterday. As a point of clarification, Scully was from Pepsi ( "The Pepsi Generation"), not KO as you stated. His book "Odyssey" was the biggest egomaniacal biography I have read. Greg Reyes replaced Bruce Bergman ( who was fired ) as President/CEO of BRCD before the BRCD IPO in response to severe internal problems at BRCD ( senior mgmt exodus, slow sales, production/quality problems ). These "growing pains" were solved PRIOR to BRCD's successful IPO and post-IPO run-up as evidenced by 6-7 consecutive quarters of double digit sequential growth/triple digit year-over-year growth and continued upward revisions in analyst estimates. Furthermore, BRCD conservatively only booked revenue AFTER a product was GA, unlike AVNX which as I read it is booking revenues for both pilot plant production as well as beta-testing. Also, BRCD replaced their contract manufacturer MSL with Solectron to improve quality and gross margins , again, these were moves made BEFORE the IPO. At least AVNX still has Seth Neiman on the BOD to prod them along. I am not saying that AVNX is or will be a failure. I am saying the Jury is still out. The Market will decide where the short term prices want to take AVNX in light of lack of visibility and probable negative market psychology exacerbated by the cautionary statements/warnings made by JDSU and PMCS ( and GLW yesterday ). I am willing to sit on the sidelines and wait to buy AVNX below 60, maybe even below 50. You confidently make a bullish case for "not waiting" to buy AVNX. Did YOU buy today or are YOU buying tomorrow?

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