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Technology Stocks : Ciena (CIEN)

CIEN 241.21

-0.9%

Jan 20 4:00 PM EST

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To: Bald Man from Mars who wrote (5862)	12/11/1998 9:11:00 AM
From: Dorine Essey	Read Replies (1) of 12623

This is NOT good. Joe on MSNBC not so kind either. This in my opinion can be a buying opportunity. Dorine 12/11/98 8:30 am... CONTINUE TO AVOID CIENA (CIEN 17**)... Q4 FY 98 (Oct.) loss of $0.03 vs. EPS of $0.37, (ex. charges in both periods), $0.01 better than consensus... Sales down 30%, 29% sequentially... Gross margins decimated by 1420 basis points from Q3, 3000 basis points from last year due to pricing pressure and underutilized capacity... Lowering FY 99 estimate to $0.33 from $0.80... Ciena does have solid position in optical networking market and stock has gained support on unrealized takeover rumors... but competitive pricing pressure and low visibility warrant further caution. /M.Cavallone --------------------------------------------------------------------------------

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