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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (13626)	10/27/2000 2:51:03 PM
From: Glenn McDougall	Respond to of 24042

Perhaps a more sober view from CIBC world markets. All $ in US. Highlights from our JDSU note regarding 1Q EPS We are reiterating our Strong Buy rating and $150 price target on the shares of JDS Uniphase after the company delivered two important messages: 1) a much better than expected F1Q and 2) a reassuring strong fundamental outlook. Reporting together for the fist time, both JDSU and E-Tek as a single company, the results of $0.18, were $0.01 better than our $0.17 estimate. Consensus EPS estimates were $0.16. JDSU posted revenue of $786 million, representing sequential organic growth of 23% on a proforma basis. Despite concerns surrounding two of its largest customer, Lucent and Nortel, the results soundly beat our revenue estimate of $755 million. Core telecom related sales grew 26% over last quarter on a proforma basis as demand for optical products continue and capacity increases are realized. Management, through extensive customer discussions, indicated that do not see any demand slowdown, inventory buildup or shortening lead times for its optical components and subsystems. While some skeptics will remain, management has not seen any change in spending forecasts from customers.