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.

Technology Stocks : Corvis Corporation (CORV) -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (1311)	2/7/2002 8:26:55 PM
From: SemiBull	Read Replies (1) \| Respond to of 2772

Corvis sees first-quarter revenues flat to down COLUMBIA, Md., Feb 7 (Reuters) - Corvis Corp. (NasdaqNM:CORV - news), a manufacturer of optical communications systems, on Thursday said it expects to post flat to lower revenues in its current fiscal first quarter, compared with its fiscal fourth quarter. The company's revenues in its fiscal fourth quarter, ended Dec. 29, totaled $15.2 million, down 67 percent from $46 million a year earlier, reflecting the hard market facing network equipment makers. Corvis on Thursday posted a widening loss, excluding charges, in its fiscal fourth quarter amid last year's harsh downturn in demand for network gear. Excluding charges, Corvis in its fourth quarter reported a loss of $39.9 million, or a loss of 11 cents a share, compared with a loss, excluding charges, of $23.9 million, or a loss of 7 cents a share, a year ago. Analysts on average expected Corvis to post a loss excluding charges of 11 cents a share, with individual estimates ranging from 10 cents a share to 13 cents a share, according to research firm Thomson Financial/First Call. Corvis' fourth-quarter net loss was $374.8 million, or a net loss of $1.05 a share, compared with a net loss of $89.7 million, or a loss of 27 cents a share, a year ago. The company's shares, which have lost 91.3 percent of their value over the past 52 weeks, closed on Thursday at $1.61, down 5 cents or 3 percent. The shares slipped in after hours trade to $1.45.

To: SemiBull who wrote (1311)	2/7/2002 8:36:15 PM
From: James Calladine	Read Replies (1) \| Respond to of 2772

QUARTER: I did not hear the CC. Who did? Looking at the results themselves, I don't see ANYTHING to be enthused about. Being simplistic, my questions would be: -- is the CORV technological advantage real? -- even with their large cash position, can they last the time necessary for substantial sales to arrive? -- how long is that estimated to be? -- if it takes longer, what then? -- is WCG a survivor? If not, what impact on CORV? Opinions, please? Namaste! Jim