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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: Edward Pesulima who wrote (11891)	10/28/1997 9:29:00 PM
From: Kerry Lee	Read Replies (1) of 29386

<<What can we realistically expect next week and in the near future?>> 1. No idea on price direction. Wacky market 2.Expect further validation of Fibre Channel as an emerging/growing technology based on the industry announcements close to Comdex. 3. Expect significant FC production ramp-up in second half 1998. From an ANCR perspective, as I outlined in earlier posts, the earliest Ancor OEM deals are probably 1-2 months away from reaching final decision/announcements whereas Ancor is making faster/more immediate progress in the networking niches they have been working on for the past year. I would be looking for potential news in the coming days/weeks in the oil patch and possibly from Uncle Sam.I'm guessing that the networking markets ( both domestic and international ) will represent the bulk of ANCR revenues for the next 6 months, before the Storage OEM market kicks into high gear in the back half of 1998. BTW, I'm hearing that response from OEM's to Ancor's new MKII has been "very very good", but I have no idea what inning all these players are in terms of their product development/testing/productization timetables. 4. I expect Ancor to "manage" Q3 results to keep investor expectations low so that they can exceed them later on. I would not be surprised to see Q3 revenues somewhere between $3.6 and $4.0 million. Ken Hendrickson is re-positioning the Company towards the Storage OEM market and I think the implication of that strategic shift will be a reduction in S,G&A expenses ( on a percent of sales basis ) and higher operating margins, which lowers the level of quarterly revenues necessary to breakeven. For example, the Netswitch tour that Ancor co-sponsored was VERY expensive. 5. I expect New Management and maybe even some of the new board members to step up to the plate and demonstrate their confidence in the Company's future ala Al "Chainsaw" Dunlap who is famous for putting his own skin in the game.

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