you could also envision a scenario where NN misses their numbers, ASND, FORE, BAY and CSCO all conspire to steal NN's business and the stock crashes back to the teens, but that's no fun...
Okay, let's look at the competition:
Cisco's Q3 report:
<<<
SAN JOSE, California -- May 5, 1998 -- Cisco Systems, Inc., the worldwide leader in networking for the Internet, today reported its third quarter results for the period ending April 25, 1998.
Net sales for the third quarter were $2,184 million, compared with $1,648 million for the same period last year, an increase of 33%. Pro forma net income, which excludes the write-off of purchased in-process R&D discussed below, was $483 million or $0.45 per share, compared with pro forma net income of $358 million or $0.35 per share for the third quarter of 1997, increases of 35% and 29%, respectively.
During the third quarter of fiscal 1998, Cisco completed the acquisitions of LightSpeed International, Inc., WheelGroup Corporation and NetSpeed, Inc. for a combined purchase price of $521 million and took a one-time charge of $419 million or $0.39 per share as a write-off of in-process R&D. Additionally, the company completed its acquisition of Precept Software, Inc. for approximately $84 million in a transaction accounted for as a pooling of interests.
Actual net income for the third quarter, including the above-mentioned write-off of purchased in-process R&D, was $65 million or $0.06 per share, compared with $378 million or $0.37 per share in the same period last year. >>>
Nortel:
>>>
nortel.com
Revenues for Q1 '98 increased 9% year over year, and earnings per share were up 29% .
For some reason the pdf document won't let me cut and paste.
Bay doesn't compete in any of the same markets and Ascend reports this Thursday, so there's really not a lot to go on.
Since comparisons aren't terribly revealing, I'll take comfort in the fact NN hasn't warned and hope you're right when you say:
It doesn't take much to envision a scenario where NN meets consensus and sets off a few upgrades. If we couple this development with a few favorable news releases, watch out...NN could be back on track in a big way.
For anyone interested in NN's ADSL specs, here's the URL:
newbridge.com
Later --
Pat |
