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Technology Stocks : Advanced Fibre (AFCI) ** IPO
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To: Clam Clam who wrote ()2/24/1999 7:16:00 AM
From: Roy F  Read Replies (1) of 3299
 
Advanced Fibre Communications (AFCI), a California maker of telecommunications systems for public telephone systems, could give investors fresh information about sales and profit growth.

The maker of "local loops" between telephone users and public phone networks saw its shares surge in 1998, in part because of speculation someone like Cisco (CSCO) would scoop up the company for a couple of billion dollars.

In 1998, Advanced Fibre's sales reached $312 million, a 17 percent gain. Yet that kind of growth wasn't enough to keep the shares, which hit 44 3/4 last April, aloft. The company's stock sells now for less than 10, leaving it with a market cap of less than $800 million.

Greg Steele, recently promoted to chief operating officer, is scheduled to discuss the company on Wednesday. The company is one of the few at the conference that has no coverage from conference sponsor BancBoston Robertson Stephens.

cbs.marketwatch.com
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