'We were very pleased to see record bookings and year-over-year revenue and operating
income growth,'' commented Thomas J. Gill, FORE Systems' President and CEO. ''During
the quarter, FORE continued to see robust growth in its core business solutions for large
enterprises, with record results in both units and revenue in that segment. Given the recent
release of our new ForeRunner(R) ASX-4000 ATM switch for service providers, the
opportunity for continuing growth in both market segments is excellent.''
During the quarter, FORE made several important announcements including customer wins,
corporate partnerships and a strategic acquisition. Additionally, FORE Systems continued in
its leadership position in ATM enterprise switch revenues for both the second quarter and
the first half of calendar 1998, as reported by the Dell'Oro Group of Portola Valley,
California, and by In-Stat, of Scottsdale, Arizona.
''Building on our success in the ATM enterprise market, we also closed our acquisition of
Berkeley Networks, a developer of high-performance multi- gigabit IP switch routers,''
added Gill. ''We expect the Berkeley acquisition to uniquely complement FORE's current
product line by enabling us to deliver end-to-end Application Aware(TM) network
solutions. This allows a network to recognize the type of traffic flowing across it and
empowers the network manager to prioritize one type of traffic over another. The Berkeley
acquisition will also allow us to expand into new markets, extending our reach in large
networks and giving us the ability to sell into medium-sized businesses.''
FORE Systems' customer base continued to expand with significant contracts announced
this quarter including Edward Jones Brokerage, a leading international investment firm; the
new campus headquarters for GTE Laboratories; SSM HealthCare, one of the nation's
largest Catholic health care systems and the National Guard Bureau.
Recently, FORE also announced the election to its Board of Directors of Daniel R. Hesse,
President and CEO of AT&T Wireless Services and John T. LaMacchia, President and
CEO of Cincinnati Bell. ''Both Dan and John will complement our existing Board of
Directors and will provide valuable industry insight and advice. They will also assist with
FORE's overall strategic vision in the regulated carrier and emerging service provider
markets,'' commented Gill.
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Three key points from this:
1. Order and bookings are strong
2. Berkely will add revenue in near future, impact is now over
3. Two new board members will bring more clout in RBOCs, and create more mkt opportunity resulting in additional revenue stream
Just simple think about it; FORE 3 yrs ago with 1/3 the size is around 13 to 14$ and now it's less than that. The value is right here.
Look for 17+ in very near future |
