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Technology Stocks : Advanced Switching Communications, Inc. ASCX -- Ignore unavailable to you. Want to Upgrade?

To: William F. Wager, Jr. who wrote (1)	10/5/2000 6:58:15 PM
From: $Mogul	Read Replies (1) \| Respond to of 29

redherring.com

To: William F. Wager, Jr. who wrote (1)	10/15/2000 5:49:33 PM
From: $Mogul	Read Replies (1) \| Respond to of 29

Advanced Switching Communications: More Than an Impressive Name by Tom Taulli internetstockreport.com Another peice dated Oct 4th from the Internet Stock Report.

To: William F. Wager, Jr. who wrote (1)	10/19/2000 5:01:44 PM
From: Tech Master	Read Replies (1) \| Respond to of 29

Thursday October 19, 4:08 pm Eastern Time Press Release SOURCE: Advanced Switching Communications, Inc. Advanced Switching Communications, Inc. Announces Record Third Quarter Results VIENNA, Va., Oct. 19 /PRNewswire/ -- Advanced Switching Communications, Inc. (ASC), (Nasdaq: ASCX - news), an innovative provider of broadband access platforms today reported record financial results for the quarter ended September 30, 2000. The third quarter results represent ASC's first reporting period since its initial public offering on October 5, 2000. Revenue for the third quarter of 2000 was $11.0 million compared with $7.9 million for the second quarter ended June 30, 2000, an increase of 39 percent. Gross margin for the third quarter of 2000 was 34.0% up from 27.2% in the second quarter of this year. Pro forma net loss, excluding stock-based compensation and any cost of warrants issued, for the third quarter of fiscal 2000 was $2.7 million or $0.08 per share, compared with a pro forma net loss of $2.9 million or $0.08 per share for the second quarter of fiscal 2000. Quarterly results for the period ended September 30, 2000 compared to the period ended September 30, 1999 were as follows. Revenue increased $9.8 million, or 817%, to $11.0 million for the third quarter of 2000 from $1.2 million for the same period a year ago. The pro forma net loss for the third quarter of fiscal 2000 was $2.7 million or $0.08 per share compared with a pro forma net loss of $2.2 million, or $0.09 per share for the third quarter of fiscal 1999. Reported net loss for the third quarter of 2000, including stock-based compensation and any cost of warrants issued, was $3.3 million or $0.10 per share compared with a reported net loss of $6.2 million or $0.18 per share for the second quarter of 2000. Reported net loss for the third quarter of 1999 was $2.2 million, or $0.09 per share. Revenue for the first nine months of 2000 was $23.9 million, an increase of $22.3 million, from $1.6 million for the same period a year ago. Pro forma net loss for the first nine months of 2000 was $8.3 million or $0.24 per share as compared to a pro forma net loss for the first nine months of 1999 of $6.8 million, or $0.31 per share. Reported net loss for the first nine months of 2000 was $12.4 million or $0.37 per share as compared to a reported net loss for the first nine months of 1999 of $6.8 million, or $0.31 per share. All per share amounts above assume the conversion of redeemable convertible preferred shares into common shares as if the conversion occurred at the beginning of the period presented. ``We are pleased with the progress we made this quarter,'' said Asghar Mostafa, ASC's president and CEO. ``We plan to continue to deliver innovative broadband access network products that give service providers high-speed on- ramps to core optical networks. In today's market, ASC's key benefits and features -- including enhanced revenue opportunity, scalable product architecture, multi-service capabilities and reduced operating costs -- allow service providers to rapidly and cost-effectively deliver broadband services to their customers.'' The Company continued its penetration of leading next-generation network carriers with the announcement of a multi-year, multimillion-dollar agreement with Qwest for the purchase of ASC products including the A-4000. Qwest has agreed, subject to certain conditions, to purchase $24 million of ASC's products through the end of 2001 with additional purchases possible in 2002. ASC also began shipping the A-4000 to Qwest in the third quarter. In addition, Intermedia Communications Inc. successfully deployed ASC products in its network, which enabled Intermedia to introduce a spectrum of bandwidth options for data, Internet access, and private line replacement services previously unavailable to business customers. These new NxT1-based services are made possible by ASC's exclusive MultiStream(TM) technology. During the third quarter, the Company realized the continued broadening of ASC's product portfolio with the shipment of ASC's latest product, the A-3010. The A-3010 introduces a higher density interface for channelized T3 connections allowing service providers to leverage increased facilities cost savings and simplify service platforms for voice and data services. On October 4, 2000, the Company's registration statement for its initial public offering of 6.25 million shares of common stock became effective and the offering was priced with an initial public offering price of $15 per share. The offering closed on October 10, 2000, yielding proceeds of approximately $86 million after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The underwriters also exercised their over-allotment option to purchase an additional 937,500 shares, which closed on October 16, 2000, raising additional funds of approximately $13 million in net proceeds to the Company. The lead manager for the offering was Morgan Stanley Dean Witter and the co- managers were Robertson Stephens and Chase H&Q. The Company will not hold a conference call to discuss these quarterly results. The Company anticipates hosting its first earnings conference call as a public company following the release of fourth quarter and full year 2000 results. About ASC Headquartered in Vienna, Virginia, Advanced Switching Communications, Inc. is a provider of next-generation broadband access platforms for telecommunications and Internet service providers. ASC's architecture provides flexibility and scalability that enables service providers to deploy broadband services aggressively. ASC products are NEBS Level 3 certified and interoperable with the industry's leading telecommunications equipment providers. More information about ASC is available online at www.asc.com. This release may contain projections or other forward-looking statements regarding future events or the future financial performance of Advanced Switching Communications, Inc. that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to ASC's S-1, filed with the SEC, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements. These risk factors include, among others, the Company's ability to grow its customer base, dependence on new product offerings, market acceptance of its products, rapid technological and market change and manufacturing and sourcing risks.