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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Chris Stovin who wrote (556)	7/13/1999 10:06:00 PM
From: Glenn McDougall	Read Replies (1) \| Respond to of 24042

Hi Chris: From SSB report ~july 8,1999 PREVIEW We expect Uniphase to modestly exceed our $0.40 estimate for its fourth fiscal quarter and its last reported one as a stand-alone company. The company plans to report on July 26. Given the strength in Uniphase's markets during the quarter, internal revenue growth should be at least the 53% we are forecasting. OEMs are reporting 2x-3x sonet line-card growth, an indicator for most of Uniphase's businesses, in our view. Our revenue forecast is for a 15% sequential growth to $85.6 million, 64% year over year, or roughly 53% excluding the Philips acquisition. This should translate into $0.40 a share versus $0.29 last year, up 39% on 11% more shares. Although the deal closed after quarter end, we expect the company to refer to its pro forma earnings this quarter, as well as offer details about JDS's results. Combined, we expect JDS Uniphase to grow the top line at least 60% this quarter, excluding the Philips acquisition, and just under 66% in FY2000. We believe that the $0.40 we are forecasting for Uniphase will be more like $0.42 pro forma, up 66%, and that both the actual and proforma estimates will be exceeded. The proforma estimates for the combined company (published below) indicate about 12% accretion from the merger for FY2000. For FY1999, we estimate the deal is 5% accretive. From tonights post by you JDS Uniphase Corporation also announced that estimated pro forma results combining those of JDS FITEL for the quarter ended May 31, 1999 and Uniphase Corporation for the quarter ended June 30, 1999, both periods ending prior to the merger which became effective June 30, 1999. These estimated pro forma combined results of JDS Uniphase Corporation included sales of $188 to $190 million and earnings of $0.45 to $0.46 per share on a diluted basis, after excluding the in-process research and development charges, intangibles amortization and restructuring charges totaling approximately $181 million as described above. The foregoing loss per share and earnings per share amounts do not reflect the previously announced one for one common stock dividend to be effective on July 23, 1999. Looks like we beat the street estimate of (40 cents) by 5-6 cents :-) Is that your take? Regards Glenn

To: Chris Stovin who wrote (556)	7/13/1999 10:17:00 PM
From: Glenn McDougall	Respond to of 24042

JDS Uniphase Files Registration Statement for Share Offering NEPEAN, Ontario and SAN JOSE, Calif.--(BUSINESS WIRE)--July 13, 1999--JDS Uniphase Corporation (Nasdaq:JDSU - news), today filed with the Securities and Exchange Commission a registration statement providing for a primary and secondary offering of its common stock. JDS Uniphase's subsidiary, JDS Uniphase Canada Ltd. (TSE:JDU - news), concurrently filed a prospectus with securities regulators in all provinces of Canada providing for a concurrent primary and secondary offering of its exchangeable shares outside the United States. Each exchangeable share is intended to be the economic equivalent of, and is exchangeable for, one share of JDS Uniphase Corporation common stock. The total number of primary shares offered consists of up to 7,752,400 shares of common stock and/or exchangeable shares. The secondary offering will consist of up to 2,247,600 shares of common stock and/or exchangeable shares to be sold by certain selling stockholders. The actual number of shares to be offered will be determined at a date immediately preceding the offering, anticipated to be in the first quarter, after consultation with the underwriters for the offerings. JDS Uniphase Corporation and JDS Uniphase Canada Ltd. intend to use the net proceeds from the primary shares in both offerings for general corporate purposes, including working capital, capital expenditures and to fund potential acquisitions. JDS Uniphase Corporation is the leading provider of advanced fiberoptic components and modules. These products are sold to leading telecommunications and cable television system providers worldwide. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU and the exchangeable shares of JDS Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol JDU. A copy of the prospectus relating to the offering of the common stock may be obtained when available from Banc of America Securities LLC at 600 Montgomery Street, 4th Floor, San Francisco, California 94111 and Deutsche Banc Alex. Brown at One South Street, Baltimore, MD 21202. A copy of the prospectus relating to the offering of the exchangeable shares may be obtained when available from CIBC World Markets Inc. at 161 Bay Street, 6th Floor, BCE Place, P.O. Box 500, Toronto, Ontario M5J 2S8. Contact:

To: Chris Stovin who wrote (556)	7/13/1999 10:36:00 PM
From: Michael Young	Respond to of 24042

Hope we don't get hammered too much tomorrow. MIKE