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Technology Stocks : HighWave Optical Technologies

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To: ms.smartest.person who started this subject	7/4/2001 5:44:19 AM
From: ms.smartest.person	of 41

HighWave Optical reports record FY 2001 revenue but warns HighWave Optical Technologies (fr:007639) said on Tuesday revenue for the 2001 fiscal year rose strongly, producing net income for the first time, but warned growth in the new year would be flat, with sales declining in the first two quarters. The company, which makes components and sub-systems for high-speed optical telecom networks, said revenues for the year, ended March 31, rose to €71.9 million from €4.7 million in 2000. This produced net income of €3.8 million, instead of a €1.8 million loss the previous year. But due to what it described as "anaemic demand" for high-tech products, HighWave Optical expects revenue to fall by 45 percent in the first quarter and 38 percent in the second quarter, before recovering in the second half of the year. Shares trimmed early losses of nearly 13 percent to trade 3.47 percent lower at €13.90. ftmarketwatch.com Currency Conversion finance.yahoo.com

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