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Technology Stocks : Oclaro, Inc. (Avanex-Bookham) -- Ignore unavailable to you. Want to Upgrade?

To: Kayaker who wrote (1496)	1/24/2001 12:18:55 PM
From: LJM	Respond to of 2293

Epoch Partners Issues a Research Note on Avanex Headlines 01/24 02:18 AVNX: Another Power Quarter, Conservative Outlook SAN FRANCISCO, Jan. 24 /PRNewswire/ -- The following is being issued by Epoch Partners, a member of the National Association of Securities Dealers, CRD number 103899: Epoch Partners, Inc. today issued a Research Note on Avanex Corporation (Nasdaq: AVNX). The Research Note, issued today by Mark Langley, Senior Analyst, Communications Equipment Subsystems with Epoch Partners, discusses Avanex's earnings announcement for the second quarter of its fiscal 2001 business year. The following are key highlights included in the Research Note: -- Avanex reported a strong fiscal second quarter, beating our revenue and EPS estimates, as well as those of the Street consensus. -- Margins were higher than expected due to yield improvements and higher operating leverage. -- Customer diversification improved through a reduced revenue share of the largest customer (WorldCom), a new 10% customer, Nortel, and the addition of three new customers. -- Management expects to recognize revenue from PowerShaper (in pilot production) and PowerExpress Metro (in beta testing) the June quarter. -- Management cited continued strong demand but maintained a conservative stance and did not raise guidance. -- We are not changing our revenue or EPS estimates at this time. -- Our full note, with detailed analysis of each company, is available free at: www.epoch.com.