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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (2537)	4/19/2000 9:41:00 AM
From: LBstocks	Respond to of 19219

From briefing.com on HIFN> 08:47 ET ****** hi/fn Inc. (HIFN) 46: Shares of designer, developer and marketer of high-performance, multi-protocol packet processors are expected to tumble this morning after the company reported a much weaker than projected fiscal Q2 result. The company said that it would have met estimates were it not for a March 31 shipment that cannot be recognized until Q2. Accordingly, Q3 earnings were nil, nineteen cents below the First Call estimate, and below year-ago profit of $0.21. While there are times when investors prefer to look the other way and give a company some slack, it does not appear it will happen this morning as shares of hi/fn are currently offered almost 20 points below yesterday's closing price. This is quite a disappointment as, ahead of earnings, shares of hi/fn had risen 6 points or 15% as the rally in the Nasdaq on Tuesday lifted all boats alike. Unfortunately, this is one issue that will feel the consequences of falling not only short with earnings expectations, but also revenues as the top line fell by 6.2% to $8.13 million from a year-ago. The drop in revenue was more pronounced on a sequential basis, falling by 19% from Q1 level of $10.05 million. In explaining the shipment disallowance, hi/fn said that "had this revenue (from a large order from a major networking customer) been recognized in the March quarter, second quarter revenue would have been in line with street expectations." While the stock is already down 70% from a high of $151 3/4 set last September and has fallen around 54% since early March, the stock will set a new low this morning when it opens for trading. The momentum crowd has turned against this issue and while hi/fn has had days of significant downward movement from time to time, this is one instance in which the stock will find it hard to recover from the latest blow. - RN