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Technology Stocks : Comverse Technology

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To: Mark Ambrose who wrote (442)	5/28/1998 3:57:00 PM
From: Renee Scherb	Read Replies (1) of 1331

Another article, this one from S+P personalwealth.com: Comverse Technology Posts 1Q Earnings; Jeffries & Co Raises Estimates Wednesday May 27, 1998 (11:33 am EST) Comverse Technology Posts 1Q Earnings; Jeffries & Co Raises Estimates NEW YORK, May 27 (Standard & Poor's) - Comverse Technology (CMVT 45 1/8 UP 1 1/2) posted $0.51 versus $0.34 first quarter earnings per share on a 27% sales rise. Jeffries & Co. raised estimates. Analyst Douglas Ashton told Standard & Poor's the first quarter was very good and exceeding his $0.43 and the Street's $0.44 earnings per share estimates. He said gross margins were better and the tax rate was lower than expected. He believes the quarter reflects the strength of business and the company's ability to manage geographic diversity and a broad customer base while growing. He raised his 1998 earnings estimate from $1.95 per share to $2.14 and his 1999 estimate from $2.33 per share to $2.59. He rates the stock a buy.

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