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To: Johnny Canuck who wrote (27877)	9/1/2000 2:02:02 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69867

Thursday August 31, 11:29 am Eastern Time Optical Communication Products files $115 mln IPO WASHINGTON, Aug 31 (Reuters) - Optical Communication Products Inc., maker of optoelectronic subsystems and modules for fiber optic networks in metropolitan areas, on Thursday filed with regulators to raise as much as $115 million in an initial public offering. The subsystems and modules convert electronic signals into optical signals and back to electronic signals, conversions that allow high-speed communication of voice and data traffic over public and private networks, the company said. It did not say in a preliminary prospectus filed with the Securities and Exchange Commission how many shares of Class A common stock it plans to offer or their price, details that will be provided in future filings. The company said its list of customers include 3Com Corp.(NasdaqNM:COMS - news), ADC Telecommunications Inc. (NasdaqNM:ADCT - news), Alcatel , Cisco Systems Inc. (NasdaqNM:CSCO - news), among others. Furukawa Electric North America Inc., a wholly-owned subsidiary of The Furukawa Electric Co. Ltd. holds a 70.3 percent stake in Optical Communications, or 66 million shares, according to the SEC filing. In the nine months ended June 30, revenues grew to $69.1 million from $23.3 million at the end of the same period in 1999, the filing showed. Optical Communication posted a net income of $16.7 million in the same period in 2000, versus $4.2 million in the nine-month period ended June 30, 1999. It attributed the growth in revenue mainly to increases in demand from existing customers and newer products. The company has applied to trade its shares on Nasdaq under the symbol ``OCPI'' (Nasdaq:OCPI - news), and has hired UBS Warburg LLC, J.P Morgan & Co., U.S. Bancorp Piper Jaffray, and Wit SoundView as underwriters to manage the IPO. It plans to use the proceeds for general corporate purposes, including expansion of manufacturing, research and development, sales and marketing, international operations and possible acquisitions. The Chatsworth, Calif.-based said the $115 million figure cited in the filing was done merely to calculate the SEC registration fee.