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Technology Stocks : MITEL (MLT) -- Ignore unavailable to you. Want to Upgrade?

To: Howard Bennett who wrote (1667)	11/3/2000 9:14:15 AM
From: Howard Bennett	Read Replies (1) \| Respond to of 1730

How low will MLT go? $10? (Slower growth....oh no!) Mitel forecasts slower earnings from weak unit OTTAWA, Nov 3 (Reuters) - Mitel Corp. (Toronto:MLT.TO - news) (NYSE:MLT - news) said on Friday that it expects slower than previously forecast earnings based on sluggish communications systems sales. The company forecast in a conference call with analysts that it expects net adjusted earnings per share of 80 Canadian cents for the fiscal year, down from C$1.00 previously forecast. Mitel, which announced second-quarter results on Friday that beat analyst earnings forecast by 1 Canadian cent per share, said its communications business sales will be down 20 percent for the year to C$630 million ($411.7 million). The semiconductor business is performing better and is forecast to meet previous estimates of 30 percent growth for annual revenue of about C$780 million. The company announced on Friday it will separate its semiconductor and communications systems business units because of differing competitive needs, customer types and investment requirements, said the company in a statement.