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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Jack Colton who wrote (50051)	6/9/1999 8:25:00 AM
From: Riley	Read Replies (1) \| Respond to of 90042

Good morning all. I'm rested up now from the grubbing "slugfest" of last night...Here's some new info on PAIR. I don't think this has been posted yet. -------------------------------------------------------------------------------- Related Quotes PAIR 0 +0 delayed 20 mins - disclaimer Tuesday June 8, 6:45 pm Eastern Time PairGain CEO sees boost in international sales ATLANTA, June 8 (Reuters) - The chief executive officer of PairGain Technologies Inc. (Nasdaq:PAIR - news) said Tuesday that the telecommunications equipment supplier expects international sales to more than double to 25 percent of total revenues by 2002. International sales currently make up 12 percent of PairGain revenues, which totaled $283.1 million last year. ''We need to drive that to 25 percent,'' CEO Mike Pascoe told securities analysts at the annual Supercomm '99 trade show here for telecommunications manufacturers. In a brief interview afterward, Pascoe said the Tustin, Calif.-based company planned to reach its goal in 2002. Later, during an informal meeting with analysts and reporters, Pascoe said PairGain would concentrate its international efforts where it already has a presence, in Europe, Asia and Latin America. He said the company would hire people familiar with those areas and would improve distribution channels in those areas. Pascoe said PairGain is on the lookout for acquisitions and is willing to leverage its balance sheet to pay for them. At the end of the first quarter, PairGain had no long-term debt and $228 million in cash, he said. PairGain Chief Financial Officer Charles McBrayer said the company's bankers were eager to finance the acquisitions. ''They're all over us to do that,'' he said. McBrayer declined to say how much debt the company would be willing to take on. McBrayer also said the company's stock buyback program would continue. ''That program is going to be in place for the foreseeable future,'' he said.