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

To: 16yearcycle who wrote (9656)	4/25/2000 9:49:00 PM
From: Danny	Read Replies (1) \| Respond to of 24042

I think CSCO did that last quarter

To: 16yearcycle who wrote (9656)	4/25/2000 10:20:00 PM
From: LBstocks	Respond to of 24042

Driven By Component Demand, JDS Uniphase Beats 3Q Views Dow Jones News Service ~ April 25, 2000 ~ 8:19 pm EST By Johnathan Burns NEW YORK (Dow Jones)--Driven by a surge in demand for its fiber optic products, JDS Uniphase Inc. (JDSU) Tuesday reported third quarter results above Wall Street's expectations. Considered the bellwether among fiber optic names, the San Jose, Calif., company reported net income - excluding merger-related charges and amortization - of $85.8 million, or 11 cents a share. A First Call/Thomson Financial survey of analysts predicted the company would report 10 cents a share. "It was a very solid quarter," said Jeffrey Lipton, analyst with Chase H&Q. " The balance sheet looks strong. Things are extremely positive in this space." Net sales for the quarter ended March 31 surged 155% to $394.6 million from the $154.9 million the company would have posted a year ago if JDS Fitel Inc. and Uniphase Corp. had reported as a single company. JDS Uniphase released its results after the market closed on a day its stock soared 16.2%, or 13, to 93 5/16 in heavy trading. But the stock got hammered in after-hour trading, dropping as low as 87, according to Instinet, even as Chief Financial Officer Anthony Muller raised the company's guidance for fiscal 2001. Muller said JDS Uniphase will see revenue growth of 75% and will reach $2.4 billion in revenue in fiscal 2001. He also said the company will see $480 million in revenue in the current fiscal fourth quarter. Conrad Leifur, analyst with U.S. Bancorp Piper Jaffray, said the company's fiscal 2001 projections exceeded his own preliminary expectations of a little less than $2.3 billion in revenue. "JDS Uniphase has been on such a great roll for so long it gets almost boring, " he said. "Their earnings reinforce all the strong reports we've been seeing across the (fiber optic) group." Optical fiber company Corning Inc. (GLW) exceeded Wall Street expectations Monday, following similar reports by component makers SDL Inc. (SDLI) and E-TEK Dynamics Inc. (ETEK). JDS Uniphase showed strong growth in its component segment, which accounted for $264.6 million in sales, of which almost $230 million went to external customers. The company supplies its products to customers like Lucent Technologies Inc. ( LU), Nortel Networks Corp. (NT) and Alcatel SA (ALA), which in turn use them to build fiber optic networking systems. Fortunately for fiber optic companies, rising Internet and data usage means telecommunications businesses can't get their hands on enough capacity. JDS Uniphase plans to close its proposed merger with E-TEK Dynamics during the current quarter. The combined company would be the dominant fiber optic component supplier in a world where demand will exceed supply for at least two years. JDS Uniphase is currently expanding manufacturing capacity and will spend as much as $80 million in the fiscal fourth quarter to that end. The company has plans to increase automation as well as outsourcing the manufacture of lower- margin products. -Johnathan Burns; Dow Jones Newswires; 201-938-2020; johnathan.burns@ dowjones.com (END) DOW JONES NEWS 04-25-00 08:19 PM