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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (34232)	9/17/2001 7:44:19 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69862

Tim, I finally getting a chance to catch up on a lot of the S.G. Cowen presentations. For QLGC, do you have any concerns on the flat Q-Q inventory levels (46.9 mil same as last Q)É QGLC Notes: -Still cash flow positive. -generating about $8 mil in cash per month -no software products, concentrating on hardware Fibre Channel and SCI SAN products only -Most of r&d focused on Fiber Channel for next few years -have better margins than competitions, gross margin > 63 percent, about 55 percent industry average -FC grew 10 percent Q-Q, 49 percent Y-Y -DSO's 50 days -inventory 46.9 mil flat Q-Q -turns 3, target 5 to 6 -customers CPQ, DELL, SUNW, IBM, EMC, HITACHI, INRANGE -24 percent market share, JNIC 25 percent, EMLX 49 percent, A 1 percent, -market share numbers accounting for Fiber Channel only: QLGC - 35 percent, A- 15 percent, JNIC 13 percent, EMLX 37 percent -Expect SAN component market to grow at 67 percent Y-Y -Rev growth stalled last Q when looking at Q-Q numbers, 20 percent Y-Y in a very difficult Q -Japanese customer still working through inventory issues, see a bottom to that now though