BAY Ntwks (under House) Message Board

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Technology Stocks : BAY Ntwks (under House)

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To: Beachbumm who wrote (4099)	2/7/1998 12:28:00 PM
From: Typhoon	Read Replies (2) of 6980

I snuck into the Bay analyst meeting at the Hotel InterContinental on Thursday. The presentation was good. They explained their turnaround and intent to continually cannibalize everything driving prices down and growing faster than the industry. I spoke to Dave House afterward. I asked about his ability to hold onto his silicon lead, as the industry siliconizes its products. (I will claim to coin this expression as it just rolled off my tongue after 3 v&ts.) Dave said "I will compare my silcon guys v Cisco any day. Hands down mine are better." or words to that effect. On the quarter he said not so strong (seasonally weak? sequentially up?) but a very strong second half. There was a bit a Cisco bashing. It could get ugly as they attack some cicso products and Cisco goes after them. He said Cisco is targeting some of his top salespeople. I spoke with Loyd Carney who said that Cisco tried to counter offer for Netsation, and the standstill agreement ended Jan 31, but Netsation closed with Bay even though they could dragged their feet into Feb if they wanted to go with Cisco. They didn't and Loyd said he thought that was a clear endorsement of Bay's technology. Netsation stuff handles cisco routers really well. Oh, House said Bay does not communicate well with the street and they will do better. He said he was surprised the stock trailed off after this last report. He said they will focus on manufacturing efficiencies too. I talked with Shrigley. They seem to have addressed and rationalized the channel and direct sales approaches. Dave Shrigley felt quite strongly about being able to do both channel and direct sales and what is inbetween, effectively. Rynne the CFO was regrettably an idiot. All in all a/b. the qt is still uncertain and it won't be until the second half that things roll. In the interum, CSCO could try to make things very hard (I suspect that because Bay looks to be positioning themselves to hurt CSCO later in the year) Bay has turned itself around meaningfully as a company, the leadership has a 3 yr business plan with yrly,qtly goals for each division. There is a clear structure, methodology, and vision to Bay's future. God Bless

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