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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (43230)	11/9/2000 5:49:23 PM
From: zbyslaw owczarczyk	Read Replies (1) \| Respond to of 77400

Power-One says Q4 backlog, Cisco business rose NEW YORK, Nov 9 (Reuters) - Power-One Inc. (NasdaqNM:PWER - news) on Thursday said its backlog substantially increased since the third quarter and its business from Cisco Systems Inc. (NasdaqNM:CSCO - news) also continues to grow. The Camarillo, Calif.-based power-conversion device maker, which previously put its backlog as of Sept. 30 at $238 million, with a 90-day backlog of $159 million, now said that as of Oct. 29 its backlog was $255 million, with a 90-day backlog of $168 million. Responding to rumors that Cisco, the No. 1 networking equipment maker and Power-One's largest customer, was canceling or delaying orders because of excess inventory of Power-One products, the company said its overall business from Cisco continues to increase. ``In fact, we anticipate that sales to Cisco in our fourth quarter will be at least 30 percent higher than our sales to Cisco in the third quarter,'' Steve Goldman, Power-One's chairman and chief executive, said in a statement. ``Moreover, Cisco has asked for additional product shipments in the fourth quarter to support its optical networking business. Additionally, based on recent discussions with executives at Cisco, we anticipate that our sales to Cisco will increase in 2001 at an even greater rate than they have this year.'' Goldman said that although the company is adding capacity to satisfy continued demand from some of its top communications customers for fourth-quarter deliveries, it expects many of the requests will go unmet because of the short time left in the quarter. ``We continue to remain extremely confident in our fourth quarter and prospects for 2001,'' Goldman said. Email this story - Most-emailed articles - Most-viewed articles