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Technology Stocks : Ciena (CIEN)

CIEN 209.84

-2.9%

Dec 16 4:00 PM EST

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To: Glenn D. Rudolph who wrote (1273)	2/20/1998 1:26:00 PM
From: Maverick	Read Replies (2) of 12623

CIENA (Thursday's close: 58-1/8, indicated sharply lower) reported that fiscal 1Q earnings tripled, but warned that 2Q profit will likely be lower than expected as a result of reduced orders from WORLDCOM (Thursday's close: 38-9/16). The announcement, made after market close, sent Ciena's shares tumbling in after-hours trading. A shift by WorldCom to just-in-time bandwidth-deployment ordering will result in "a substantial reduction in system requirements from Ciena during fiscal year 1998." Ciena wouldn't quantify how the reduced WorldCom orders will affect future earnings, but acknowledged that the WorldCom decision, relayed to Ciena earlier this week, puts the company's earnings outlook in doubt. (Wall Street Journal)

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