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Technology Stocks : Ascend Communications (ASND)

ASND 219.76

+1.5%

12:25 PM EST

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To: Dennis R. Duke who wrote (43452)	4/9/1998 6:59:00 PM
From: Dennis R. Duke	of 61433

From 10 pages of notes I will try to give a summary of the CC: Mory opened with a summary of the sales results: Sales of $305.1 vs $292.5 with sequently growth of 4.3% over the prior Quarter. Net Income of $52.4 or 26 cents vs. $47.6 or 24 cents when compared to last Q. Book to bill is slightly over 1. Expansion of Public networks and the internet is great. Current networks not sufficient for needs. CLEC's are the agents for change and providing service at lower costs. Referenced recent successes at Williams, Quest and one other I did not get. CLEC's are pushing the RBOC's capital expenditures. Good international growth and prospects in France, Germany and Holland. North America had the greatest sales growth followed up Europe being primarily the countries noted above. Asia Pacific still sees softness, with Japan moving more quickly than the rest of the region. International will grow faster in the future. Will win over competition with bigger competitors by focusing on public networks and better functioning services. Access Switching Q1 strong with approximately 8% growth, Primarily the MAX TNT product. UUNet, DT, FT, Unisource, and NTT major customers. CLEC's are early adopters of their technology. Market share leader when measured by access ports at 41% in Q4 according to Dell Oro. Mory believes that posts is the correct metric for market share. While others will make claims based on using different metrics. MAX6000 is needed by the enterprise customer and is unmatched by any of our competitors. Our solutions for Voice and FAX over IP are shipped and in use at customer sites today. V.90 interoperational testing is ongoing. Beta release in April and general availability in May. Good growth in this sector going forward. Core Systems Revenuew up slightly (which confirms they did not get the numbers with GX550 sales). Europe and Asia had good growth in sales. GX550 had zero revenue taken in the Q1, and will be a major contributor going forward. Sales in this area are system sales with Frame Relay, ATM and Navis being combined in their client base. ASND strong points are innovation and time to market, which will serve it will in the future. Q2 Focus We will continue to work on infrastructure including: People Product and Expansion in the international market Our strategy is sound and continuing to build momentum going forward. End of Mory's comments I will pick-up with Michael's and Q&A in the next two segments. Dennis

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