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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: smallcapmaven who wrote (10283)	1/27/2001 5:18:52 PM
From: Daniel G. DeBusschere	Respond to of 12623

<<Why we are short CIEN >> **************** The only problem is that this is a very focused company without any problem of protecting and growing a huge legacy product revenue stream and is just loved by all the growth money managers. And it has excellent products that are clearly the best of breed. It will be touch and go until the market gets over the recession fears. I would not be either long or short until the outlook clears up quite a bit.

To: smallcapmaven who wrote (10283)	1/28/2001 12:11:14 PM
From: James Fulop	Read Replies (1) \| Respond to of 12623

>>Due to CIENs tremendous exposure to CLECs<< That implies you know exactly the share of revenue Ciena gets from CLECs as opposed to other customers. I have been following Ciena for a long time, but other than the >10% clients that they are required to divulge by the SEC (and which are now WCOM, Sprint and GTS, but will be changing as GTS has finished it's network build-out) I have not been able to get exact information on revenue from each customer. If you know the exact breakdowns, please share that information. Thanks. Here is a list of Ciena customers. I see an awful lot of non-CLECs on the list. (With a good bit of international exposure...apologies for the format but I can't seem to separate the domestic from international so bear in mind each line has two customers...) Domestic International ALLTEL Cable & Wireless Verizon Completel BellSouth Crosswave Communications Broadwing DDI Cable & Wireless USA Esat Telecom Digital Teleport Dynegy Enron Communications Global Crossing (Racal Telecom) Genuity GTS (Hermes Europe Railtel) Intermedia Commun Inc HanseNet Telekommunikation XO (NEXTLINK) Interoute Telecommunications Ltd. PSINet Japan Telecom Qwest Communications KDD ( Teleway Japan) Sprint Korea Telecom MCI WorldCom MobilCom AG RCN Protel Williams Commun Inc. TANet Telecom Developpment Telia AB ciena.com

To: smallcapmaven who wrote (10283)	1/28/2001 5:30:02 PM
From: Techplayer	Read Replies (2) \| Respond to of 12623

smallcapmaven, the only reason that I can see to short CIEN is that earnings going forward will be diluted by the recent acquisition. I do not see CIEN warning or missing their numbers. CIEN is not ADCT and optical equipment sales will likely exceed present estimates on a full year basis, not miss them. JDSU, GLW and NT have bullish outlooks after the present quarter. Since the market tends to look out beyond the present quarter, it will take some brilliant analyst to publish a report on CIEN's 130-150 forward PE to drive it down. All imo. tp