Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (17246)	1/26/2001 11:11:46 AM
From: pat mudge	Read Replies (1) \| Respond to of 24042

The weakness is all PMCS, CISCO. Add LU to that list in terms of causes for PMCS' weakness. This on LU from a recent WSJ article: The first-quarter results showed a drop in nearly every measure of the company's health. Revenue fell to $5.84 billion from $8.07 billion. The company posted a loss of $395 million, or 12 cents a share, compared with net income of $1.25 billion, or 38 cents a diluted share, in the year-earlier period. These results are adjusted for the spinoff of Avaya Inc., Basking Ridge, N.J., and exclude discontinued operations. They reflect amortization of goodwill, one-time items and a gain in the current-year quarter of $1.15 billion from Lucent's sale of its power-systems business. Sales in Lucent's core business dropped 36% from the year-earlier quarter. Gross margin fell 24 percentage points to 22% of revenue. Inventories were up 22%. Sales, general and administrative costs ballooned 49% to $1.77 billion with $340 million of that going into reserves the company keeps in case customers don't pay their bills. Moreover, sales to one of its biggest customers fell 71%. Lucent declined to identify the customer, but analysts said they believe it is AT&T Corp. A spokesman for AT&T, New York, declined to comment.