Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 210.40

-1.0%

11:53 AM EST

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To: david jung who wrote (1614)	1/17/1997 12:53:00 AM
From: Jay Yang	of 61433

Just got off the conference call playback. Not bullish at all. 1) Management said that book-to-bill would have been negative without the MAX TNT and GRF orders. 2)They also said Pipeline sale prices were down 30% in the last quarter and are expected to decline further over the next few quarters. 3)They are probably not going to recognize any GRF sales till the 2Q. 4)Even with the TNT MAX shipments, sequential revenue growth is likely to fall again in 1Q97. Look for stock to be in the $60 neighborhood tomorrow and the $55 neighborhood within a week. ASND's long-term gorwth rate (5 years) is probably about 30%. Give a 30 multiple to 1997 earnings of $1.50 and you've got a $45 stock.

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