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

To: Michael Young who wrote (562)	7/14/1999 12:23:00 AM
From: Michael Young	Respond to of 24042

Bloomberg says they beat first call by .04 - .05. I'm not sure how many shares will be oustanding after the split. They sure won't have any trouble placing the stock. MIKE

To: Michael Young who wrote (562)	7/14/1999 12:31:00 AM
From: John K_k	Read Replies (1) \| Respond to of 24042

My take on earnings! UNPH earnings of $0.40-$0.41 are right on or slightly ahead of analysts projections. The combined result cannot be used to say that analyst projections were beaten. The UNPH result is obviously based on UNPH's share float of approximately 40 million shares. The combined pro forma result of $0.45-$0.46 (US) is based on the combined result of the two companies, and their total float of approximately 80 million shares. To determine if analyst projections have been met you need to take into consideration projections for JDS which are in Canadian dollars and over a float of 80 million shares. I believe the consensus earnings for JDS were about $0.30-$0.33 (CAN) UNPH's contribution of $0.40 / share contributes $0.20 over 80 million shares. This means that JDS contributed $0.25-$0.26 (US), or approximately $0.38 (CAN). On this basis, we see that the merged company beat analyst projections. UNPH met expectations, while JDS soundly thrashed analyst projections. NOte: this analysis is based on JDS earnings projections of $0.30-$0.33 CAN. This is what I recall from memory only. If I have used incorrect projections the analysis must be adjusted accordingly. Please add to this analysis if you have actual earnings forecasts for the former JDS