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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Mark Konrad who wrote (41366)	11/15/2000 11:31:06 AM
From: Rick Buskey	Respond to of 57584

Homer Simpson vote-------I liked that one..........LOL

To: Mark Konrad who wrote (41366)	11/15/2000 11:37:34 AM
From: Softechie	Read Replies (2) \| Respond to of 57584

*CSFB on SYCAMORE NETWORKS (SCMR: $64.44) 11/15/00 Posts Excellent Results; Boosting Estimates; Reiterate Buy Annual EPS Prev. EPS 7/02E $0.37 $0.34 7/01E 0.19 0.23 7/00A 0.14 Rating: BUY Change: 12-Mo. Target: $150 SCMR posted FQ1:01 sales of $120.4 million and Earnings Per Share of $0.02 (includes one-time charges and tax effect associated with deferred comp. from Sirocco acquisition), above our $103.5 million estimate and $0.01 Earnings Per Share forecast; In addition, SCMR outpaced our previewed sales range of $110 million to $115 million; Increasing F2001 sales to $604 million from $517 million and Earnings Per Share to $0.23 from $0.19; Boosting F2002 top-line to $1.05 billion from $900 million and Earnings Per Share to $0.37 from $0.34. Highlights included book-to-bill above 1.0; two new 10% customers added during the quarter resulting in 3 total; Estimate WCG accounted for 50%-60% of sales; SCMR shipped to 10 customers in the quarter for revenue; $20 million sequential advance in deferred revenue for $49.9 million total; Gross profit margin and operating expenses in line. New product momentum tracking to plan with SN 16000 installs expanding beyond initial customers (BellSouth and 360Networks), SN 3000 & SN 4000 general availability on target for CQ4:00 and SN 10000 general availability scheduled for mid-calendar 2001; Key challenge for SCMR is creating tight integration of system elements to maximize differentiation. Balance sheet outstanding; Accounts Receivable DSOs dropped to 30 days from 44 in FQ4:00; Inventory turns totaled 4.9x, up from 4.7x and cash and marketable securities exceeded $1.5 billion. Near-term stock momentum set to continue on the strength of FQ1:01 quarterly results and what we believe will be an upbeat analyst meeting on 11/16 in Boston. We reiterate our BUY rating on the stock.