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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Sector Investor who wrote (27373)	11/7/2000 8:42:30 AM
From: Greg h2o	Respond to of 42804

<<Anyway, I think their earnings were great. Others did not.>> you're certainly not the lone ranger. every analyst report i've seen has been gushing. here's an excerpt from SSB's: <<United States CISCO DELIVERS, AGAIN--WE THINK CISCO’S STRONG QUARTER SHOULD CALM NERVOUS INVESTORS-- BROAD BASED STRENG AND BALANCED END MARKET DEMAND SUPPORT A HIGH VISIBILITY OUTLOOK Despite the modest decline in after hours trading, Cisco delivered everything investors could reasonably hope for plus some. We considered this to be a superb quarter with revenues up 68% on an as reported basis compared to our forecast of 63% and First Call estimates averaging 61%. Proforma for pooling acquisitions revenues increased 66%. Gross margins came in exactly on forecast, down 50 basis points quarter-to-quarter primarily due to the shifting mix of business with pricing relatively stable. Operating expenses increased 50 basis points Q-Q slightly faster than our forecast and earnings per share came in the traditional Cisco $0.01 per share ahead of forecast at $0.18. DSO increased 3 days to a still superb 40 days, with the increase primarily due to the Summer seasonality and the shift toward international growth. The only oddity in the quarter was a sharp increase in inventories which management indicated was intentional and designed to help bring down.unacceptably long delivery times on some of its systems. With revenues ahead of target this was clearly by design, but some may be concerned about the possibility of shortening lead times resulting in a draw down of field inventories, we are not concerned by this and in fact think Cisco is well insulated from this issue as we detail in a latter section. Excluding the inventory question, the performance was superb and the strong results was punctuated by management increasing revenue and EPS guidance by roughly 5%. Given the already strong result expectations we think the increase was above what most analysts had hoped for going into the quarter.>>