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Technology Stocks : Seeq Technology Coming Back....
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To: Bob Sokol who wrote (681)7/22/1997 4:14:00 PM
From: Brian G. Swift   of 2127
 
Seeq had their conference call with analysts and investors on Thursday, July 17th. Highlights are as follows:
Margins increase sharply, due to the unusually low level of sales of older technology 10mb transceivers for the qtr. This was the reason sales were below expectations by just under $1 mil. Sales from 10mb were actually off $2 mil sequentially, so 100mb sales were about $1 mil more than expected. Thus, the higher gross margins. Normal sales of transceivers to 3COM, Intel and H-P didn't occur. He heard elsewhere than 3Com stated there was excess inventory of NIC's in the channel, and that by late Aug or early Sept. the purchasing should rebound sharply.

Cabletron was a strong performer, accounting for 35% of revenues while BayNet slipped to 25%. Japan was strong at 10%

About 20 customers are evaluating the TX 100mb physical layer part. Of these about a dozen have given verbal commitments to purchase the part, and 6 have given them orders. Most significant names mentioned were H-P and Fujitsu among those who have given orders, and BayNet and Optical Data among the verbals.

Design activity for Gigabit was strong for the qtr. When asked when they will have significant revenues from Gigabit, they estimated that they should cross the $.5 mil per qtr. level by the Mar. '98 qtr.

All in all it was a very upbeat conference call.
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