Harmonic Lightwaves (HLIT) Message Board

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Technology Stocks : Harmonic Lightwaves (HLIT)

HLIT 9.895

-0.7%

3:59 PM EST

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To: shlomi cohen who wrote (1133)	7/10/1997 2:24:00 PM
From: Eric Jacobson	of 4134

I hope this clarifies the tax rate question once and for all (again). I spoke with Michael Newman with FiComm, HLIT's investor relations firm. He verified that analyst estimates are based on fully taxed results. In order to "meet" analyst expectations of 15c at HLIT's current 15% tax rate, they actually need to report between 19c and 20c this quarter. He said this has been the source of some confusion for some time. For example, people complain because HLIT beats the estimates by huge margins, yet the stock doesn't react accordingly. The reality is that HLIT is beating the estimate, but not by whopping margins on a fully taxed basis. For example, 1Q results of 18c (at 15% tax rate) only beat estimates by 1c on a fully taxed basis. To verify this info for yourself, call him at (408) 542-2760. 2Q results will be announced at 1 pm PST on the 16th.

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