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To: 2MAR$ who wrote (51)	4/26/2000 8:23:00 PM
From: 2MAR$	Read Replies (1) \| Respond to of 762

JDSU Uniphase bucks up on profit rise cbs.marketwatch.com By Lisa Sanders, CBS MarketWatch Last Update: 4:43 PM ET Apr 26, 2000 NewsWatch Latest headlines NEPEAN, Ontario (CBS.MW) -- JDS Uniphase shares declined at the close Wednesday after day-long gains on the company?s better-than-expected third-quarter earnings, powered by a 155 percent leap in fiber-optic product sales. JDS Uniphase (JDSU: news, msgs) earned $85.8 million, or 11 cents a share, which compares to the First Call consensus estimate of 10 cents a share. During last year's third quarter, JDS Uniphase posted earnings of $65.7 million or 9 cents a share. Sales grew to $394.6 million from $154.9 million last year. JDS Uniphase of Nepean, Ontario, generated $92.1 million in cash flow from operations for the quarter, and it invested $77.4 million in capital expenditures during the quarter in connection with its global capacity expansion. At the close of Nasdaq trading, the stock was at 92, down 1 5/16, on heavy volume of 35.7 million shares. Also Wednesday, Prudential Securities lowered its price target on JDS Uniphase to $142 a share from $188 while PaineWebber raised its price target to $200 a share from $165. In his analyst note, Prudential's John Butler said he was revising his price target downward based on 40 times the fiscal year 2001 estimate, which is in line with current trading levels. He noted that JDS Uniphase remains a "very good story," and he reiterated his "strong buy" recommendation. "Despite the stock's wild ride over the past few weeks, the fundamental story remains rock solid," Butler wrote. "End-user demand for JDSU's products continue to outstrip supply at this point, and once again the company is operating at capacity in all of its product lines." "The ability to add capacity ahead of plan is what is going to allow them to beat expectations going forward," Butler added. "Our guess