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.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (92904)	10/2/2001 10:51:42 PM
From: Rocket Red	Respond to of 150070

Cosn at least got 190 Million in Cash and after Hours up so thats close to 2 dollars per shares Ya NT also got big problems see NT at 5 Canadian

To: Buckey who wrote (92904)	10/2/2001 11:06:01 PM
From: Rocket Red	Respond to of 150070

REDWOOD CITY, Calif., Oct 2 (Reuters) - CoSine Communications Inc. (NasdaqNM:COSN - news), a maker of communications processing switches and software, on Tuesday said it would cut 14 percent of its staff as part of a cost-cutting plan amid weak telecommunications spending. The company said it will cut its ongoing quarterly expenses by 25 percent compared with last year's second quarter, and will take a third-quarter restructuring charge of $7 million, or 7 cents a share. CoSine, based in Redwood City, California, said the job cuts, combined with the cost-cutting program will save it about $8.5 million a quarter compared with the second quarter. It expects earnings per share to improve by 8 cents a quarter by the first quarter of 2002. The company reiterated its third-quarter guidance of improved earnings per share by 2 cents, excluding the charges, with revenue growth of 15 to 20 percent over the second quarter. It said it expects to have about $190 million in cash and short-term investments as of Sept. 30 this year. It said it expects a cash burn rate of about $25 million to $26 million in the third quarter, down from about $35 million in the second quarter.