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To: Scrapps who wrote (8929)	5/17/2000 9:12:00 AM
From: Perry P.	Read Replies (2) \| Respond to of 9236

ADI Numbers look super! NORWOOD, Mass., May 17 /PRNewswire/ -- Analog Devices (NYSE: ADI - news) today announced revenues of $581 million for the second quarter of fiscal 2000, up 71% from the prior year's second quarter and 19% above the immediately prior quarter. Diluted earnings per share increased to $0.32, compared to $0.11 for the year-ago quarter, and were up 28% from $0.25 for the first quarter this year. ``The market shift from data processing to signal processing has created large opportunities for ADI's high-performance analog and DSP technology, particularly within the communications market as wireless and broadband usage accelerates,'' said Jerald G. Fishman, President and CEO. ``Our second-quarter analog revenues grew 57% year over year and 15% sequentially, while our DSP revenues grew 134% year over and year and 32% sequentially. ADI's growth in these two key product areas was again well ahead of the markets' growth, as we continued gaining market share in both product areas. ``Our sales into the communications market continued to accelerate during the second quarter, rising 123% over the same quarter last year and 29% from the immediately prior quarter,'' Mr. Fishman said. ``Communications customers comprised 45% of the second quarter's revenues, up from 34% for the second quarter last year and 40% for the immediately prior quarter. We are benefiting from accelerating demand for increased bandwidth as Internet usage continues to grow dramatically. DSL, cable modems, central office concentrators and optical networking products are all growing rapidly. We are also seeing strong growth for wireless products used in cellular handsets and base stations, as well as for products used in wireless Internet appliances. ``In addition,'' he continued, ``we are seeing strong growth in high-end digital entertainment products used in digital cameras, VCRs, DVD players and high-performance flat panel displays, all areas where we enjoy high market shares. And sales into PCs continue to increase as the analog content per PC increases, with ADI technology providing important functionality in both laptop and desktop PCs.'' Mr. Fishman also said, ``The industrial market continues to be an important source of revenue for ADI. We are the leading supplier for digital motor control components, and revenues for products used in medical imaging and automatic test equipment applications also grew significantly during the second quarter.'' Turning to the quarter's financial performance, Mr. Fishman said, ``Gross margin improved 160 basis points sequentially to 55.7% of sales. The operating expense ratio for the quarter declined to 27.8% of sales from 30.1% for the first quarter, despite increases in R&D and higher sales commissions associated with our strong sales growth. Our higher sales, higher gross margin and a lower operating expense ratio increased our second-quarter operating profit ratio to 27.9% of sales, a record for ADI. Diluted earnings per share increased to a record $0.32, up 191% from the second quarter last year and 28% sequentially, despite an increase in the tax rate to 30% due to rising profits in higher tax jurisdictions. We anticipate that the tax rate will be approximately 30% for the next several quarters. ``Our balance sheet continued to strengthen during the second quarter,'' he added. ``Cash flow totaled $116 million prior to paying off our remaining $80 million of debt, which increased our cash position to $931 million. Days of inventory and accounts receivable also improved during the quarter.'' Looking forward, Mr. Fishman observed, ``2000 is shaping up to be a great year for Analog Devices -- perhaps our best year ever. Our large backlog has given us good visibility and we believe that third-quarter sales could rise 10 to 12% sequentially. This would lead to third-quarter revenues of $640 to $650 million and diluted earnings per share of approximately $0.36 to $0.37. We have also revised upward our revenue expectations for the year. We now believe that our year-over-year revenue growth could exceed 65%, which would result in our fiscal 2000 revenues exceeding $2.4 billion, or approximately $1 billion more than for last year. We also believe we can continue achieving good operating leverage on increasing revenues. Perry P.

To: Scrapps who wrote (8929)	5/17/2000 11:58:00 AM
From: Paul Lee	Read Replies (1) \| Respond to of 9236

still around Fast Internet Access: Alcatel ships One Million DSL Lines in first 4 Months of 2000; First quarter 2000 shipments up nearly 750% over same period last year PARIS--(BUSINESS WIRE)--May 17, 2000--Alcatel (ALA), the world leader in DSL (Digital Subscriber Line) solutions, announces today that it has shipped one million central office DSL lines to its worldwide customer base during the first four months of this year, bringing Alcatel's installed base to a total of 2.7 million lines. In the first quarter of 2000 alone, Alcatel shipped 737,000 lines, nearly 750 percent above the year ago period. Sixty-eight percent of the first quarter volume was shipped to service providers in North America, fifteen percent to service providers in Europe, fifteen percent to the Asia/Pacific region, and two percent to Latin America. Alcatel ADSL SpeedTouch TM CPE shipments reached 190,000 units worldwide in the first quarter of 2000, a 375 percent above the year ago period. In calendar year 1999, Alcatel shipped 1.6 million central office DSL lines to its worldwide customer base. The year-to-date shipment performance in 2000 puts Alcatel on track to conservatively ship about 4 million central office DSL lines by the end of the year. Based on research conducted by Dataquest, Alcatel commands a leading fifty-five percent share of the ADSL central office line market. With the recent introduction of its next generation award winning ASAM, which offers the industry's best balance of performance, density, and power consumption, Alcatel is clearly positioned to expand its market dominance in DSL. "We are extremely pleased to have reached this shipment milestone so early in the year," said Martin De Prycker, President of Alcatel carrier data activities. "In 1999, the one million line shipment milestone was reached in the fourth quarter. For Alcatel to reach this milestone early in the second quarter of 2000 is evidence of the exploding demand for DSL and Alcatel's market and technology leadership in this space." Alcatel defines a central office DSL line shipment as the delivery of an actual central office modem to a service provider for deployment in their network. This metric yields a true measure of supplier market presence and provides a much better indication of market share than other metrics such as "capacity shipped," "DSLAMS installed," and "number of central offices," all of which can count empty slots for modems or unused rack space. The central office line shipment measure also more accurately tracks the service provider community's immediate ability to support DSL subscribers. About Alcatel DSL The world's leading supplier of DSL systems with market leadership in its ASAM and Litespan family of products, Alcatel has been supplying industry-standard end-to-end ADSL solutions since 1996. Alcatel's DSL access solutions are available on a variety of service platforms, including the Alcatel ASAM family; the Litespan NGDLC; and environmentally hardened DSLAM packages optimized for digital loop carrier deployment. The Alcatel ASAM holds over 55 percent of the worldwide central office ADSL market. Alcatel's Litespan multi-service access platform, an integrated NGDLC/DSLAM, has a global embedded footprint of 57 Million subscribers and growing. Alcatel's DSL technology is also offered in an advanced range of customer premises equipment, the Alcatel Speed Touch(TM) family of DSL modems, routers, and integrated access devices supporting multi-line voice and data service over a single telephone access line.