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Technology Stocks : FORE Inc.

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To: Pam who wrote (8190)	4/24/1998 9:52:00 AM
From: Ed Frye	Read Replies (3) of 12559

Good Mornin' All..... Not to dampen enthusiasm this AM BUT analyst A. Tuncer's view is --- Maintains a HOLD on FORE saying FORE is fairly valued at 27 times $0.65 calendar '99 estimate - only specific criticism is that FORE is not playing a large role in implementation by carriers... Pam- Could you explain why "and with retroactive application of 30% for all 4Q's it is 12.9c as reported." why does retroactive application affect current eps? As to whether "surprise" was more manipulation than real - the positive is that both lower R&D and eff tax rate are to continue in upcoming quarters.... Although Gill stressed that the slow jan was due in large part to taking the entire sales staff to Arizona for a retreat of some kind and, as you mentioned, feb is a short month, linearity was not good but promises to be much better with solid backlog so i'm discounting this as a negative factor going forward. the small increase in quantity of ATM port shipments i think is directly affected by switch to OC12 (from OC3) --- greater capacity, price, margin, etc. --- ATM revs were up 15% in the Q as i recall.. ES3810 and DT should help drive june Q asx4000 should drive sept Q stackable 10100 ethernet should drive dec Q carrier class asx4000 and msc700 should drive mar Q FY99 is shaping up well - product pipeline, customer wins and VARs should keep top-line sequential growth at or above expectations - net margins are headed back to 15, i anticipate improved linearity/visibility.....ed

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