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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.67

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To: David B. Higgs who wrote (12963)	3/17/1998 9:43:00 PM
From: Lerxst	Read Replies (1) of 77400

David, To be clear, Bay announced: -- SANTA CLARA, Calif.--(BUSINESS WIRE)--March 17, 1998--Bay Networks Inc. (NYSE:BAY - news) today announced that, based on current information, it expects revenue and net operating income levels for its 1998 third fiscal quarter ending March 28, 1998 to be lower than the levels recorded in the preceding quarter. The company expects revenue for the third quarter of 1998 to be down approximately 10 percent from the second quarter revenue of $645 million. This lower expectation is due to weaker than anticipated demand in many of the company's customer segments. The company believes this is the result of a number of transitions underway in its markets. Based on the expected level of sales, the company believes the gross margin in the third fiscal quarter will be below the 51.5% of revenue achieved in the second fiscal quarter. Taking these above factors into account, Bay Networks expects to be profitable, on an operating basis, in the fiscal period. -- Lerxst

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