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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (134107)	11/12/2001 4:10:53 PM
From: SOROS	Read Replies (1) \| Respond to of 436258

Typical lemmings following the pied piper song of death. CIEN: 2002 revenues would grow in the ``early teens,'' down from a previous growth forecast of 45 percent to 65 percent. -- BAD news #1 Analysts on average have cut their earnings estimates to 41 cents a share from 99 cents in August, according to First Call -- BAD News #2 At that time, Ciena lowered its 2001 forecast to 59 cents to 64 cents a share from a previous range of 72 cents to 75 cents and said it expected similar results for 2002. -- BAD News #3 ``The information about a restructuring and headcount reductions basically leads me to conclude that when they do talk about (2002) forecasts, they're not going to keep that same guidance,'' Lehman Brothers analyst Steve Levy said. -- BAD News #4 However, Ciena did not provide a fiscal 2002 forecast, and some analysts believe its earlier estimates will have to come down. -- BAD News #5 Ciena also said it will cut 10 percent of its work force. -- BAD News #6 The company said it expects revenue of $367.8 million for the period -- Ciena also said it will consolidate facilities and record a fourth-quarter restructuring charge of $15 million to $16 million in addition to the $1.7 billion charge related to goodwill. Let's see, that's 367 MILLION, and you SUBTRACT 15 MILLION and then SUBTRACT 1.7 BILLION -- Oh, I forgot, those LOSSES don't count! -- BAD News #7 Stock goes UP. -- GOOD News #1 and only, but that's all that counts, right? I remain, SOROS