Re <<part of the problem is all but PRGN were pigs during the telecom boom>>
JDSU and NT pigs? What are you talking about.
They produced too much inventory.....why do you think there's a glut?
Re <<But I don't know how you can think of a MRVC when CIEN is at $6 and JNPR at $9?>>
Because MRVC is 7 times cheaper than JNPR and 3 times cheaper than CIEN based on sales. It has better margins and more cash per share. What are you basing your opinion on?
Huh? CIEN had $1.6 billion in sales last year; MRVC had $330 million. MRVC's stock trades at $1.9 and CIEN's is at $6.9. Maybe my math is whacked...liberal math and all, you know....but I get that CIEN is cheaper by a country mile. However, by your comparison JNPR is 50% more expensive with $900 million in sales and its stock trading at $9.
As for margins, again, Huh? In the last quarter, MRVC had a Gross Margin of 19%, CIEN's was 40% and JNPR's 54%. These numbers are from Market Research.
As for cash per share, at the end of 2001, MRVC had $211 million in cash and 82 million shares. That translates into $2.57 per share.
At the end of March, 2002, JNPR had $1.052 billion and 331 million shares. That converts into $3.18 per share.
At the end of January, 2002, CIEN had $1.5 billion and 328 million shares. That results in $4.51 per share.
By these standards, I don't think MRVC has the edge over CIEN and JNPR.
JNPR is getting slaughtered by CSCO. JNPR is ultra expensive POS. Owning it is a trap.
Doesn't look like CSCO is slaughtering JNPR to me.......not with CSCO's high receivable rate. However, there is no guarantee that JNPR will be the success it was two years ago. Their new products will determine their future and I am not ready to write them off quite yet.
ted |
