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Technology Stocks : TLAB info?
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To: Buckeye who wrote (1981)1/27/1998 9:49:00 PM
From: Clam Clam  Read Replies (1) of 7342
 
This stock reaction is quite frustrating. Down $3 ahead of the earnings and down another $2 after they beat estimates and management sounds enthusiastic about Q1 and 1998. Management has indicated Titan will grow 30% in 1998, similar to what they budgeted for 1997, when Titan grew 54%. Titan grew 21% sequentially in Q4, very similar to the 22% done in the Dec qtr, 1996. Business looks robust and they are taking market share from Alcatel Lucent and NorTel.

The ADC blow-up combined with potential seasonal (Q1) softness and mergers among many key customers leaves the sector vulnerable to a rotation out. However, LU and NT went up. You pay a higher multiple for LU when LU has exposure to ADC types of commodity products? LU is a great company but it doesn't make much sense to me to award a lower multiple for a purer play in the WAN backbone (TLAB).

>>Did you hear the conference call today? It was a mixed bag in my opinion . . . Mgmt. is always conservative but there was a lack of enthusiasm for new products unlike any previous call they've held.

New products haven't been the story here. Any hype created by potential new products in the past haven't panned out. I heard they hinted about an acquisition at the Montgomery conference today. Rumors of buying FORE have come up in the past but I believe TLAB has developed ATM capabilities in-house. Maybe DSC is the candidate, its stock is in the tank.
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