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Technology Stocks : Cabletron Systems (CS: NYSE)
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To: FNS who wrote (5515)1/4/1999 8:48:00 AM
From: Neil H  Read Replies (1) of 8358
 
FNS

No position on CS but watching it on and off for a few months. Analyst from S&P comments - not all bad.

S&P analyst Megan Graham-Hackett continues to rank
Cabletron Systems (CS) 3. The company posted a
fiscal 1999 Q3 operating loss of $0.12 per share vs. EPS
of $0.13, wider than the $0.10 loss CS preannounced on
December 2. Graham-Hackett says the surprise was
caused by higher than expected selling expenses and a
lower than expected gross margin of 40% vs. Q2's 47%,
and 51% a year ago. Revenue was down 11% vs. Q2, at
the low end of CS's guidance to analysts. While she cut
her fiscal 1999 and fiscal 2000 EPS estimates by $0.05
each to $0.07 and $0.50, Graham-Hackett sees this
quarter as a low water mark. She sees upside from the
company's new Smart Switch Router product line-up, and
better sales opportunities via a joint selling pact with
Compaq. At 18 times her fiscal 2000 EPS estimate,
Graham-Hackett thinks the stock is worth holding.

Regards

Neil
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