I don't have anything definite on TimeStep, but based on hints from several sources, it appears NN wants to bring it in-house.
JDS Fitel's strong earnings report should help the telecom sector tomorrow.
Dow Jones summary:
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April 14, 1999
JDS Fitel 3Q Net C$26.7M Vs C$12.2M
Dow Jones Newswires
JDS Fitel Inc. - Nepean, Ont.
3rd Quar Feb. 28:
All figures in Canadian dollars
1999 1998
Sales C$122,582,000 C$58,510,000
Net income 26,750,000 12,221,000
Avg shares (basic) 78,036,000 76,627,000
Avg shares (diluted) 82,599,000 80,012,000
Shr ern (basic)
Net income .34 .16
Shr ern (diluted)
Net income .33 .15
9 months:
Sales 300,793,000 160,345,000
Net income 65,210,000 33,777,000
Avg shares (basic) 77,893,000 73,816,000
Avg shares (diluted) 82,388,000 77,276,000
Shr ern (basic)
Net income .84 .46
Shr ern (diluted)
Net income .81 .44
The company said the growth in sales continued to be driven by the strength of the telecommunications industry. It said the component and module product area accounted for C$98.7 million of revenues in the latest third quarter, up from C$37.6 million a year earlier.
JDS Fitel said the instruments product area accounted for C$16.7 million in revenues in the latest quarter, up from C$12.0 million a year earlier. The company said the interconnect (resale) product area accounted for C$7.2 million in revenues, down from C$8.9 million a year earlier.
The company said sales in the U.S. accounted for 82% of total sales in the latest quarter (based on invoicing addresses), while European sales accounted for 14% and the remaining regions accounted for 4%.
JDS Fitel Inc. (T.JDS) makes and distributes products for the fiber-optic communications market.
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