Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 202.96

-2.8%

Jan 9 9:30 AM EST

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To: Chi-X who wrote (8509)	8/11/1997 4:34:00 PM
From: Sector Investor	of 61433

Ascend Commun -2: Montgomery Cites July Revs Shortfall Dow Jones News Service via Dow Jones NEW YORK (Dow Jones)--Montgomery Securities Corp. analyst Al Tobia lowered his rating for Ascend Communications Inc. (ASND) to hold from buy. Tobia said in a research note the July revenue and earnings the company released in a filing with the Securities and Exchange Commission was behind his change in ratings and estimates. Ascend said its sales for July were $62.8 million and its earnings were $2.9 million, or 2 cents a share. Tobia had been forecasting earnings of 36 cents and $344 million in revenues. "We believe these results for the first month of the quarter are below expectations, given that only 18% of September quarter revenues have been recognized in the first month," Tobia said. He expected third quarter revenue to be divided into 25% for July and August, and 50% for September. (MORE) DOW JONES NEWS 08-11-97 04:02 PM -- 4 02 PM EDT 08-11-97 :TICKER: ASND :SUBJECT: TLCM ACOM ERNP CA COMP Copyright (c) 1997 Dow Jones and Company, Inc. Received by NewsEDGE/LAN: 8/11/97 3:00 PM

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