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Technology Stocks : Ascend Communications (ASND)
ASND 205.50-1.5%Dec 5 9:30 AM EST
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To: Immi who wrote (57241)11/16/1998 10:19:00 PM
From: Immi  Read Replies (2) of 61433
 
Ascend in 'Final' Talks to Sell Stratus Units, CFO Ashby
Says

Ascend in 'Final' Talks to Sell Stratus Units, CFO Ashby Says

Alameda, California, Nov. 16 (Bloomberg) -- Ascend
Communications Inc. is close to signing agreements with
prospective buyers of the three units of Stratus Computer Corp.
that it's selling, Chief Financial Officer Michael Ashby said.
''We're in final negotiations with buyers for each of the
businesses'' that Ascend acquired when it bought Stratus last
month, Ashby said in an interview. He declined to name the
prospective buyers.

Ashby and other Ascend executives have said previously the
company expects to sign ''definitive agreements'' during the
fourth quarter and receive $150 million to $250 million from
sales of Stratus's corporate computer business and its two
software units. Ashby said those plans ''are still on track.''

Ascend said last month that it hired Salomon Smith Barney
Inc. to help find buyers for the units. Ascend closed the $822
million purchase of Stratus on Oct. 20 and expects to take a
fourth-quarter charge against earnings of $305 million related to
acquired technology.

The company also will take charges to set aside reserves
against loans that it made to customers. That charge should be
''about equal to or less than'' the $8.7 million charge it took
for similar loans in the third quarter, Ashby said.

Ashby said he expects Ascend's fourth-quarter profit after
all charges to be 31 cents a share. The average estimate of
analysts surveyed by First Call Corp. is 32 cents a share.
''We're trying to guide (the analysts) down to 31 cents'' a
share, Ashby said.
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