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To: Johnny Canuck who wrote (28381)	9/22/2000 12:55:27 PM
From: Johnny Canuck	Respond to of 68162

Tellium files for $250 million IPO By Steve Gelsi, CBS.MarketWatch.com Last Update: 11:51 AM ET Sep 22, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) -- Touting Cable & Wireless and Qwest Communications International as new customers, optical networking firm Tellium filed for a $250 million initial public offering on Friday. Oceanport, N.J.-based Tellium (TELM: news, msgs) said it recently signed deals worth $650 million or more to supply technology to Qwest (Q: news, msgs) and C&W (CWP: news, msgs). The two telcos join its only other significant customer, communications service provider Extant Inc. Formed in 1997 by alumni of Bell Communications Research, Tellium sells high-speed intelligent optical switching technology aimed at leapfrogging traditional networking systems. Today on CBS MarketWatch Nasdaq smacked by Intel nosedive Intel loses $100 billion in market value Central banks join together to prop up euro Hewlett-Packard says it will meet profit targets Gold leaps on dollar's weakness More top stories... CBS MarketWatch Columns Updated: 9/22/2000 11:50:04 AM ET "Our line of intelligent optical switches is designed to efficiently meet increasing capacity and service demands," the company said in its IPO filing with the Securities and Exchange Commission. "Our objective is to be the leading provider of intelligent optical switching solutions for global public telecommunications networks." Hot market Optical switching still appears to be one of the hottest sectors of the new issues market, despite a growing number of deals. Earlier this week, Salomon Smith Barney initiated coverage of telecommunications equipment makers specializing in high-capacity solutions with an "outperform" rating. Standouts include JDS Uniphase (JDSU: news, msgs), Corning (GLW: news, msgs), SDL (SDLI: news, msgs) and recent IPOs such as ONI Systems (ONIS: news, msgs), Corvis (CORV: news, msgs) and Sycamore Networks (SCMR: news, msgs). Analyst Timothy Anderson cited heavy investments by telcos and other networking players in the Internet infrastructure as serving to boosting demand for optical networking products. Tellium has enlisted marquee underwriter Goldman Sachs to lead its IPO, with Thomas Weisel Partners, J.P. Morgan, CIBC World Markets and WitSoundView also having a hand in the offering. It rang up $7.6 million in revenue and a loss of $19.4 million in the first six months of the year, vs. $1.1 million in revenue and $9.4 million in losses registered in the comparable year-ago period. Tellium already has drawn some big-name investors, including Lucent Technologies (LU: news, msgs), Cisco Systems (CSCO: news, msgs), Thomas Weisel, Oak Investment, Pequot Capital and Accel Partners.