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Technology Stocks : Nortel Networks (NT)
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To: Kenneth E. Phillipps who wrote (1207)10/7/1998 2:01:00 PM
From: waitwatchwander  Read Replies (1) of 14638
 
Jabil Nortel Business Relationship

The communications segment is expected to account for slightly more than 40% of Jabil's total revenues in FY99 as revenue growth meets or exceeds 30% on an annual basis. Jabil announced that it had begun a significant new manufacturing relationship with Nortel Networks, formerly Bay Networks. (This is the unnamed new communications customer mentioned in the last quarterly conference call.) Nortel Networks is currently in the process of consolidating from approximately ten current suppliers and has chosen Jabil as one of its few global contract manufacturers. Current plans call for modest production in Q1, with increasingly significant levels of production in Q2 through Q4. Management anticipates that Nortel Networks may account for at least 10% of Jabil revenues by the end of FY99.

Text cut from Jabil conference call notes at: fnews.yahoo.com
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