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Technology Stocks : Next Level Communications Inc. (NXTV) -- Ignore unavailable to you. Want to Upgrade?

To: SyncMan who wrote (46)	8/24/2000 12:24:55 PM
From: kech	Read Replies (1) \| Respond to of 131

Isn't this weird that an analyst gets word of cancellation of a contract before the supplier? NEXT LEVEL COMMENTS ON LEHMAN REPORT August 24, 2000 ROHNERT PARK, Calif--Next Level Communications, Inc. commented today on an analyst report published by Lehman Brothers. In the report, Lehman Brothers indicated that, based on Lehman Brothers' recent discussions with Qwest (which recently merged with U S WEST), Lehman Brothers believed that Qwest is unlikely to move forward with U S WEST's previous plans for deploying VDSL products. Next Level sells VDSL and digital loop carrier products to U S WEST and sales to U S WEST represented 67% of Next Level's sales in the quarter ended June 30, 2000. "Qwest/U S WEST has not informed us of its future plans for VDSL," said Peter Keeler, CEO and Chairman of the Board for Next Level. "Any significant decline in revenues from U S WEST would have a material adverse effect on our operating results. However, we are pleased that a number of new customers are deploying our products and we remain committed to bringing the best integrated broadband products to the market."