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Technology Stocks : Vitesse Semiconductor

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To: Len Hannegan who wrote (1396)	4/21/1998 1:05:00 PM
From: Ed Richmond	Read Replies (2) of 4710

I have been gone for about a week, having my son. I was opening my mail and got my new research report on VTSS from BancAmerica Robertson Stephens. They upped their Q3/98 estimate to $0.34 from $0.32 and upped their 1998 estimate from $1.23 to $1.28. THey also increased their 1999 estimates to $1.54 from $1.53. Book to bill was 1.29, the highest it has been for the past 12 quarters with a six month backlog of $82 mio, up 16% sequentially. They also expect VTSS to get about $5-7 mio in revenue in the June quarter, with the $1 mio last quarter coming in the last week. Lucent and Schlumberger were the only customers that accounted for 10%+ of revenues in the quarter. All-in-all, pretty good news. The only caveat they had was the ability to execute at the new fab, but this was not viewed as a threat as VTSS has executed flawlessly in the past. By the way, where is GP who we all proved was a fake. He seems to have disappeared (oh well, must have covered his short for a loss and has not returned.) -Ed

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