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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

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Aug 24 5:00 PM EST

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To: Craig Stevenson who wrote (18276)	9/29/1998 1:42:00 AM
From: Kerry Lee	Read Replies (1) of 29386

RE: BOEING AWACS order of $1.9 million, I stated last week that the gross margin would be in the 50% range since the product had not been written off in Q2. As a point of additional clarification, I forgot to add that the actual CASH impact of the $1.9 million order will be close to 100% since they had already built and paid for the inventory in Q2( based on conversation I had last week with CFO). I also understand that the $1.9 million order covers about 20-30% of the worldwide AWACS fleet( very rough number ) and that the opportunity for additional future AWACS orders is twofold: 1) upgrade with FC systems on more AWACS planes ( USA and NORAD )and 2) add even more FC switches to planes that will install the initial FC switches. It is impossible to predict any future AWACS revenues due to the uncertainty of government funding for this program. Ancor has a policy of not talking about future $ revenue potential unless they have a firm order in hand, presumably due to the shareholder lawsuit.

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