DenverTechie,
Jeez. You would think with all the TCI business, and being in the right place at the right time with their HFC portfolio of products, that these guys can quit making excuses! Remember what I was saying about Malone having ANTC in his pocket? These guys can't get on a strong growth path to save their lives. Sorry about my tone, but I just can't believe they are warning in Q4 ALREADY.
It stinks and I think someone must not be doing a good job of running this company. It didn't take a genius to figure out the market for their products should have been HEAVILY concentrated on the US domestic market, starting 15 months ago (Asian crisis start). I think everyone on this thread knew HFC domestically was going to be hot. That's where the business is for HFC upgrades and voice over cable products, right now.
Oh well, I feel better now that I vented. I've just about lost confidence in ANTC, but at the same time, I almost feel they can be sucessful, in spite of short term bumbling. Their market is just going to be huge. It would be hard for them not to have solid growth in earnings (I hope!). Maybe this may be a good time to average down? Maybe ANTC will be heading lower in the next month or so?
MikeM(From Florida)
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Antec posts Q3 profit, Q4 revs growth may slow
NORCROSS, Ga., Oct 22 - Communications equipment maker Antec Corp. ANTC on Thursday reported a third quarter profit compared with a year earlier loss but warned slower than expected international sales growth may hurt fourth-quarter revenues.
The Norcross, Ga. company, its business driven by strong domestic sales of new products, posted net income for the quarter of $5.3 million or $0.14 per share on a diluted basis versus a loss of $2.0 million or $0.05 per share in the second quarter of 1997.
Antec, which makes equipment for the cable television industry, said international sales have been hurt by economic and currency weakness. The company said slower-than-expected international growth could level out revenue growth in the fourth quarter.
Antec reported sales of $150.3 million for the third quarter, up 24.9 percent on year-earlier sales of $120.4 million.
The company was expected to post earnings of $0.14 per share for the quarter, according to analysts polled by research company First Call Corp.
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