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Technology Stocks : PairGain Technologies
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To: helkel who wrote (27415)12/3/1998 11:48:00 PM
From: Rainmaker  Read Replies (3) of 36349
 
Here's some CC headlines, not necessarily in any order. To the Yahoo subscriber who is pasting my stuff there: cut it out. Read on SI only. If I wanted to post on Yahoo, I would be doing so.

You can listen to CC on 800 number and make your own conclusions. I've tried to provide FACTS.
1) No loss; will be profitable; 1st warning ever; continued price erosion in T1; Oct. very good; Nov. bad; Dec. expected to be bad as Nov. as trend continues due to loss of BA contract - main reason for CC
2) T1 order stops by BA faster than predicted; loss of 10% of total T1 sales => 15% of $10M for 4Q
3) Unit sales increased 19%; pricing pressure is sole factor contributing to lower profits on shipped units
4) Some shares bought back; no comment on how much; will have to see at end of 4Q
5) BA is still customer; remains a good customer with PG Plus & Flex where margins are still around 50%; expect to ship PG2 (new product) that BA is testing
6) Hi-gain across the accounts remain strong, same as 3Q
7) No news on SBC RFQ
8) PG family showing sequential growth
9) Avidia rollout began; trials have been good, setting benchmarks for other systems; revenue expected 1Q 99
10) New products planned for 99 to give total of 3 systems platform - new E1 platform that will be migration path for T1 (next generation) along with PG and Avidia; E1 in trial with 2 customers; Sprint is one - "great customer" per Chuck
11) CC lasted ~ 1:05; questions from Montgomery Securities, Stephans Brokerage (?), ING, Volpe, Lehman, Wedbush, and SG Cowen.
12) New CEO spoke little (15%); Chuck (60%); Charles (20%); Howard (5%); Kim (0% - as usual)
13) Canned "I am excited, optimistic... " speech by new guy
14) Chuck will remain CEO until Jan. 1
15) $1.5M write-down due to past private investment in ION or IONICS systems
16) Alluded to Frontier (networks?). Believe this was the company PAIR had sights on
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