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To: patron_anejo_por_favor who wrote (97525)	4/24/2001 6:52:43 AM
From: Don Lloyd	Respond to of 436258

biz.yahoo.com Tuesday April 24, 6:01 am Eastern Time Press Release SOURCE: JDS Uniphase Corp. JDS Uniphase Announces Third Quarter Results and Global Realignment Program "...The Company is evaluating the carrying value of certain long-lived assets, consisting primarily of $56.2 billion of goodwill recorded on its balance sheet at March 31, 2001. Pursuant to accounting rules, the majority of the goodwill was recorded based on stock prices at the time merger agreements were executed and announced. The Company's policy is to assess enterprise level goodwill if the market capitalization of the Company is less than its net assets. Goodwill will be reduced to the extent that net assets are greater than market capitalization. At March 31, 2001, the value of the Company's net assets, including unamortized goodwill exceeded the Company's market capitalization by approximately $40 billion. Downturns in telecommunications equipment and financial markets have created unique circumstances with regard to the assessment of goodwill, and the Company has sought the counsel of the Staff of the Securities and Exchange Commission on the interpretation of generally accepted accounting principles with regard to this matter. The Company anticipates recording additional charges to reduce the carrying value of the unamortized goodwill and other long-lived assets and such adjustments could represent a substantial portion of their carrying value. Some of these charges may be recorded as an adjustment to the Company's financial statements at March 31, 2001 and the Company would report such adjustments in subsequent SEC filings. The Company anticipates sales and pro forma earnings per share for its fourth quarter ending June 30, 2001 will be approximately $700 million and $0.05, respectively. Such pro forma earnings per share would exclude the costs of the Global Realignment Program and recognize limited cost reduction benefits, as the program will be implemented for only a portion of the quarter. The Company has limited visibility as to sales in future periods, and is not currently providing sales guidance for fiscal 2002...." Sales to be down 24% sequentially and writedowns of goodwill alone to be at least 2 to 3 times the market cap of the company. DB 04/24 06:13 JDS UNIPHASE Q3 LOSS FROM OPS $2.324 BLN VS. $223.6 MLN. DB 04/24 06:12 JDS UNIPHASE Q3 SALES $920.1 MLN VS. $394.6 MLN. Regards, Don