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Technology Stocks : Orckit (ORCT)

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To: Scrapps who wrote (1745)	4/9/1999 3:52:00 AM
From: SteveG	Read Replies (1) of 1998

nothin <g> just being Scrapps and that warrants the occasional jibe <g>. BTAB today on NT/BELL announcement (notice how Westell never has $$$ associated with these "releases"?) HIGHLIGHTS: NORTEL Today Nortel announced two separate 3-5 year agreements with Bell Atlantic valued at up to $1 billion. * First Agreement Covers Bell Atlantic's Access Infrastructure: Most notably, Nortel will provide its multi-service DLC access platform solution (Universal Edge 9000) which is managed by Nortel's Integrated Network Management (INM) system. The value of this agreement is approximately $600 million. * Second Agreement Covers Bell Atlantic's Core Switch Processing Infrastructure: Nortel will supply its XA Core Processor and DMS SuperNode Data Manager products. The agreement also includes related software products including the AIN 0.2 and Signaling Transfer Point (STP) applications. The value of this agreement is approximately $400 million. While both agreements have been anticipated, we believe the access win is a significant development for Nortel and confirms its growing capabilities in the access space. Management notes that revenue from the switch equipment contract is likely to be slightly front-end loaded over the next three to five years. We note, however, our view that bidding for this contract was highly competitive and likely price-sensitive. We continue to rate the stock "market perform." WESTELL Today Westell announced an extension of its existing contract with Bell Atlantic for up to five years. The agreement generally covers Customer Premise Equipment (CPE) and ADSL. This is an extension of an ongoing relationship between the two companies since 1992. Based on discussion with management at Bell Atlantic, these agreements are already built into Bell Atlantic's previous capital spending forecasts. We continue to forecast 1999 capex for Bell Atlantic to be in the range of $7 billion (which excludes capitalized software spending of $500 million and various mobile/cellular equipment spending of $700 million).

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