Spectrian Co. (SPCT) Message Board

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Technology Stocks : Spectrian Co. (SPCT)

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To: Leo Francis who wrote (540)	10/24/1997 11:49:00 AM
From: Leo Francis	of 738

RESEARCH ALERT - Spectrian lowered NEW YORK, Oct 24 (Reuters) - UBS Securities said on Friday it cut its rating on shares of Spectrian Corp to hold from buy and reduced its 1999 earnings estimate. Company's second quarter results were ahead of UBS expectations and slightly better than Wall Street estimates. But due to reduced forecasts from Nortel the company is revising its forecast for the remainder of this fiscal year and next to what UBS believed to the ''base case.'' Gross margins in quarter of 28 percent were down 200 basis points to over $1 million in warranty reserves. Analyst Jeffrey Schlesinger said in research note downwards revision to revenue outlook was due to revised forecast from Nortel as well as delays in introducing new products to expand the customer base. Lowered 1999 earnings estimate to $1.85 per share from $2.20 per share.

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