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Technology Stocks : Jimbo's Playhouse/CPQ -- Ignore unavailable to you. Want to Upgrade?

To: fooledalot who wrote (3956)	8/31/1999 3:37:00 PM
From: Night Writer	Read Replies (3) \| Respond to of 12662

fooledalot, Everything is red and then while I'm on the phone taking care of some other business everything goes green. What happen? NW

To: fooledalot who wrote (3956)	8/31/1999 4:55:00 PM
From: Mao II	Read Replies (1) \| Respond to of 12662

f: FYI. M2 MMC Networks announces likely impact of IBM's exit from LAN switch business; Conference call to be heldtoday at 1:30 Pacific Time August 31, 1999 04:17 PM Eastern Time SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 31, 1999--MMC Networks MMCN today announced the likely impact to the company of IBM's planned exit from the LAN switch/router business. This morning IBM announced a strategic agreement with Cisco that effectively means that IBM is exiting the LAN switch/router business. Since IBM represented 23% of MMC Networks' Q2 revenues, the company is faced with a reduction of Q4 and FY2000 revenue, MMC President and CEO, Doug Spreng, said. "IBM's decision will not materially impact the company's Q3 results but may result in approximately a 5-10% sequential decline in Q4 revenues. MMC had forecasted IBM's business to be about 15% of FY2000 revenues and now expects this business to be negligible. However, based on the large number of design wins achieved outside of IBM, the company continues to expect sequential growth during FY2000 to be in the mid-teens," said Mr. Spreng. Overall, the business climate with Cisco Systems and with MMC's other existing customers remains healthy and the company continues to be optimistic about the long term prospects in the network processor market. A teleconference will be held today at 1:30pm Pacific time to discuss the situation in more detail. To participate in the teleconference please dial 415-228-4642. A replay will be available for one week by dialing 402-344-6827. This release may contain forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to, general business conditions in the networking equipment and semiconductor industries, changes in demand for network equipment products of MMC Networks' customers, the timing and amount or cancellation of orders from MMC Networks' network equipment vendor customers and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission including the company's most recent report on Forms 10-Q and 10-K. MMC Networks, Inc. is the leading supplier of Network Processors, which are high performance, open-architecture, software programmable processors optimized for networking applications. More information on the company is available from the company's SEC filings. If you would like additional product information, please call (408) 731-1600 or visit mmcnet.com. MMC Networks is traded on the Nasdaq National Market under the symbol MMCN. Terms of Use. ¸ 1996-1999 Microsoft Corporation and/or its suppliers. All rights reserved.