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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Nikole Wollerstein who wrote (3163)	9/23/2002 8:53:23 AM
From: Proud_Infidel	Respond to of 25522

Looks like another banner week ahead: JDS Uniphase Cuts 1st-Quarter Sales Forecast Amid Ongoing Telecom Slump Monday September 23, 7:55 am ET SAN JOSE, Calif. -- JDS Uniphase Corp. (NasdaqNM:JDSU - News) lowered its fiscal first-quarter sales outlook, citing continued weakness in the telecommunications market. The maker of parts for fiber-optic equipment Monday said it now expects sales of $190 million to $200 million for the period ending Sept. 30, below its previously estimated range of $200 million to $210 million. The company reiterated that the lowered guidance reflects contract cancellations of $10 million to $20 million. JDS still expects to report an operating loss, excluding restructuring charges, of six cents to eight cents a share, an estimate it issued in July. Thomson First Call, which tracks analysts' estimates and also excludes items, is looking for a loss of six cents a share. In July, JDS said it expected business to remain flat through the first quarter. Analysts at the time took that as a sign of stability for the troubled telecom-component maker, which in 2001 was forced to take a nearly $50 billion write-down, the largest in U.S. corporate history -- much of it related to stock-based acquisitions in the once-highflying optical components market. Telecom equipment makers like JDS are being hurt by the clampdown in spending by carriers. Just last Friday, Ciena Corp. (NasdaqNM:CIEN - News) announced it will further cut its work force by 17% to bring its business back to profitability as soon as possible without sacrificing future revenue and growth opportunities. JDS, too, has cut jobs in recent months to cut costs amid the continuing business downturn.