Celeritek(CLTK)- earnings up 1300% Message Board

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Technology Stocks : Celeritek(CLTK)- earnings up 1300%

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To: slob who wrote (147)	1/30/1998 7:05:00 PM
From: Richard H.	Read Replies (1) of 212

What do you make of this..... RESEARCH ALERT - Goldman cuts Anadigics NEW YORK, Jan 30 (Reuters) - Goldman Sachs said on Friday it lowered its rating on shares of Anadigics Inc to a market perform after having the stock on its recommended list. -- Company announced on Thursday that despite a fourth quarter that was only slightly below estimates, there are several major issues heading into the first half of 1998 which will have quite negative revenue and margin impact, analyst Joe Moore said in a research note. -- Lowers 1998 estimate to a range of $0.20-$0.40 per share from $1.25 per share. -- Issues include unexpected competition for the business of one of Anadigic's key customers and a substantial inventory correction of power amplifier components with another large customer, he said. -- Also faces slower than expected ramp-up of dual-band phones, he said. -- ''As a result of this flurry of negative catalysts, wireless revenue will drop by about 50 percent sequentially and factory loading will drop very substantially as the company works down internal inventories to reflect the lower sales base, resulting in substantially lower gross margins over the next couple of quarters,'' he said. P.S. Who is the "unexpected competition". Certainly ANAD would have expected competition from Triquint. How about this comment from Celeritek's Jan 13th Press Release: "We have won six new design ins with various manufacturers for handsets and wireless local loop applications and believe these products to be technically superior to any other solution currently in the marketplace". Also, "sales from the commercial market increased 68% versus the third quarter last year". What's your opinion?

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