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Technology Stocks : Newbridge Networks

NN 11.97

+5.3%

Nov 21 9:30 AM EST

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To: Doug who wrote (11132)	5/4/1999 10:25:00 PM
From: Chris Stovin	Read Replies (1) of 18016

<<Chris: Looks like an admission that they expect more of the same for 2 more Q's.>> I listened to the conference call and Lutz clearly set the stage for 2+ quarters of damage repair. I didn't get a great sense of confidence from him that things would even be fixed in that time frame. Over all, it was the most difficult C/C I have ever listened to. When you own the stock of a company you look for every positive statement or spin to try and rationalize the situation and get yourself psyched up for the future. I couldn't find anything that could do that for me. I found this quite surprising. I expected a strong spirited defence from Lutz. Unfortunately, he sounded beaten up and admitted it on several occasions. A couple of the analysts who asked questions sounded surprised that there was no exuberance emanating from him. Based on his quotes in the press at the end of last week and his statement that he himself had bought some stock, I would have definitely bought some more stock... *if it was last quarter*. But, having got burned last quarter on the actual day of the pre-announcement, I didn't bite this time. Good thing. Tomorrow's another day and new challenges must be faced. I guess we will have to see if there will be a new COO at the helm sometime soon. At least the weather forecast for tomorrow (in my neck of the woods) is looking upbeat! Cheers everybody! Chris

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