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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Greg h2o who wrote (19782)	3/24/2000 11:46:00 AM
From: signist	Respond to of 42804

(COMTEX) A: Lucent Says It Will Meet 2Q Forecast Mar 23, 2000 (Tech Web - CMP via COMTEX) -- NEW YORK (Reuters) -- Telecommunications equipment maker Lucent Technologies told investors on Thursday that it stood by its forecast for second quarter earnings, dismissing talk it would miss its forecast as rumors fueled by a fake press release posted on the Internet. "We have not changed our guidance for the fiscal second quarter and we have no plans to change our guidance and we have no plans to issue an earnings warning," Lucent spokesman Jeff Baum said. Shares of Lucent (stock: LU), the most widely held U.S. stock, fell sharply early on Thursday after talk circulated of the press release, posted on a Yahoo message board Wednesday night. The shares then rebounded in the afternoon after the company's statement. Lucent shares closed up 2 3/16 at 64 15/16 on the Nasdaq stock market after falling as low as 60 1/2 earlier in the session. Shares have fallen this week after opening at 69 5/8 Monday. Baum said Lucent had contacted Yahoo about the fake press release that said Lucent would miss its second quarter expectations. He said the document was posted on a Yahoo (stock: YHOO.O) message board on Wednesday night, and Lucent became aware of it Thursday morning. The Securities and Exchange Commission said it is looking into the matter. Last year, a former employee at PairGain Technologies pleaded guilty to posting a false story on the Internet that said the company would be bought by an Israeli company in a billion-dollar deal. For the second quarter, Lucent has said it expects top-line growth of about 12 percent to 15 percent more than last year's level of $8.78 billion and bottom-line growth of approximately 25 percent to 35 percent more than the 17 cents per share the company earned in the second quarter of fiscal 1999. First Call/Thomson Financial, which compiles analysts' estimates, listed its second quarter forecast for Lucent as a 22-cent share profit. Lucent missed Wall Street's first-quarter forecasts as the company failed to keep up with customers' demand for new optical-networking products. The shortfall marked a departure from Lucent's once unbeaten streak of beating Wall Street's profit expectations every quarter since it was spun off from AT&T in 1996. The company, which had warned of the reduced earnings before it reported, said at the time it planned to add more manufacturing capacity and staff to correct the problems that contributed to its first-quarter profit shortfall. David Karson, a telecommunications research analyst at Black & Co., said Lucent would face a credibility problem if it missed its second quarter numbers. "Everybody is waiting with baited breath about this quarter," Karson said. "They were pretty adamant on the January conference call about how this quarter would turn out," Karson said. Copyright (C) 2000 CMP Media Inc. techweb.com -0- * end of story *

To: Greg h2o who wrote (19782)	3/24/2000 12:14:00 PM
From: delmarbill	Read Replies (3) \| Respond to of 42804

Greg, don't get me wrong, I'm not trying to blow anyone's credibility(and couldn't if I wanted to anyway). What I meant was, if he actually said six or seven IPO's this year, I doubt his credibility with respect to knowing much about MRVC. His comments don't go along with what was said in the conference call. I believe you are correct, that he was misquoted. I just left a message for Riva Richmond at Dow Jones Newswires. She probably meant 6 or 7 down the road. Perhaps you should give a call as well- 201-938-4046. I'd love to see 7 IPO's, but I'm thinking that 3 is more in line with Noam's comments, correct? (I'm a little more optimistic than John). BTW- I got my son a T-ball set for his B-day.