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Technology Stocks : Stratex Networks, Inc. (STXN) -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (1738)	9/6/2006 1:49:52 PM
From: Rob Preuss	Respond to of 1762

Even with the drop so far today, we are still up over Friday's close and trading volume is much higher than usual as big investors react to the news. One such reaction is from First Albany who downgraded the stock from "buy" to "neutral". Thanks for the 5-year HRS chart... yes, it does look quite solid. I wish I had a similar chart that breaks out the contribution from the HRS microwave comms division. I frankly don't know whether HRS is contributing a gem or a dog, relative to the overall excellent HRS company performance. Of course, even if the past performance of the HRS microwave comms division is below the performance of HRS overall, it could still be a great performer and a positive partner for STXN. I'm cautiously optimistic about the merger. Its huge news and will take time for me (and everyone else) to digest... particularly since many details have yet to emerge. I saw one comment on the yahoo msg board that struck a chord with me; essentially, they said they felt this merger reduces both the risk and the reward for STXN investors. Hmmmm..... Rob

To: The Ox who wrote (1738)	9/9/2006 12:37:04 AM
From: Rob Preuss	Respond to of 1762

Analyst Stephen Ferranti of Stephens Inc maintains his "overweight" rating on Stratex Networks Inc (STXN.NAS). The target price is set to $7. In a research note published yesterday, the analyst mentions that the company is merging HRS' microwave business to form Harris Stratex Networks. The deal is expected to generate $35 million in synergies by FY08, the analyst says. Harris Stratex Networks would have strong global distribution networks and generate above $600 million in revenues, Stephens Inc adds. The macro conditions for microwave equipment are robust, the analyst believes ========= Rob

To: The Ox who wrote (1738)	9/9/2006 12:46:12 AM
From: Rob Preuss	Respond to of 1762

EJL Wireless Research Comments on Harris Microwave & Stratex Networks Merger REDWOOD CITY, CA -- (MARKET WIRE) -- September 07, 2006 -- The recently announced merger of Harris Microwave Communications Division and Stratex Networks will create the fourth largest player in the digital PTP radio market with 12% market share in units based upon 2005 pro forma results, according to the latest report from EJL Wireless Research titled "Global Digital PTP Radio Market Analysis and Forecast, 2005-2010." "We confirm that Harris Stratex Networks, Inc. will be the largest non-base station OEM in the digital PTP market on a unit basis, although they still trail market leaders Ericsson, NEC and Nokia Siemens Networks by a sizable amount," says founder and President, Earl Lum. "We are not surprised by the mergers in the digital PTP radio market sector and highlighted Stratex Networks as a merger candidate in the report and anticipate that more will occur over the next 18-24 months," says Lum. "An important question that needs to be answered is given the recent private label OEM announcement between Alcatel and Stratex for Eclipse SDH radios, where will Alcatel go to find another partner?" says Lum. About EJL Wireless Research EJL Wireless Research provides proprietary, accurate and cutting-edge market analysis and consulting services on the wireless technology ecosystem. The firm focuses its research on all vertical elements of the wireless ecosystem including mobile subscribers, mobile operators, mobile handsets, mobile infrastructure and mobile content. In addition, the firm provides analysis across horizontal technology suppliers including RF semiconductor materials, RF semiconductor/components, subsystems and OEMs. Our goal is to provide our clients with mission critical market analysis and information. EJL Wireless Research is managed by Earl Lum. Mr. Lum has 14 years of experience within the wireless industry including 8 years as an Equity Research Analyst on Wall Street covering the global wireless industry. The company is headquartered in Redwood City, CA. For more information about EJL Wireless Research, please visit the company's website at www.ejlwireless.com.

To: The Ox who wrote (1738)	11/1/2006 4:36:52 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 1762

Stratex Networks Announces Q2 Fiscal 2007 Financial Results Wednesday November 1, 4:09 pm ET Revenue Increases 19% Year over Year; Company Reports Continued Growth in Profitability SAN JOSE, Calif., Nov. 1 /PRNewswire-FirstCall/ -- Stratex Networks, Inc., a leading provider of wireless transmission solutions, today reported financial results for the second quarter of fiscal 2007 ended September 30, 2006. Revenues in the second quarter of fiscal 2007 were $67.3 million, compared with $66.2 million in the prior quarter and $56.6 million in the year ago period. Net income in the second quarter of fiscal 2007 was $1.6 million or earnings of $0.02 per diluted share. This compares with earnings of $1.8 million or earnings of $0.02 per diluted share in the prior quarter, and a loss of $(2.3) million, or a loss of $(0.02) per share in the year ago period. The second quarter of fiscal 2007 includes the impact of Financial Accounting Standard No. 123 ( R ), ("FAS 123 ( R )" ), stock compensation and merger- related expenses. On a non-GAAP basis, Stratex Networks had net income of $5.6 million in the second fiscal quarter, or earnings of $0.06 per diluted share. This compares with non-GAAP net income of $4.8 million and non-GAAP earnings of $0.05 per diluted share in the first fiscal quarter and non-GAAP net loss of $(1.3) million and a loss of $(0.01) per share in the year ago period. Non- GAAP net income for the second fiscal quarter of 2007 excludes non-cash stock compensation expense of $2.6 million related to the adoption of FAS 123 ( R ) and the company's restricted stock plan, and $1.5 million in expense related to the proposed merger with Harris Corporation's Microwave Communications Division. In the prior and year ago quarter non-cash compensation expense was $3.0 million and $0.9 million, respectively, and was related to the Company's adoption of FAS 123 ( R ) and its restricted stock plan. A full reconciliation of GAAP net income (loss) to non-GAAP net income (loss) is provided in the accompanying financial tables. "This September quarter marks the fourth consecutive quarter of profitability driven by broad acceptance of the Eclipse wireless transmission system in the international market place, particularly in Africa, the Middle East and Russia," said Tom Waechter, president and chief executive officer of Stratex Networks, Inc. "We are pleased with our overall financial achievements including continued revenue growth, expanding margins and sustained profitability. "On September 5, we announced the proposed merger of Stratex Networks and the Microwave Communications Division of Harris Corporation. We believe that upon completion of this combination, the combined company would be the largest independent global provider of wireless transmission network solutions with trailing 12 month revenues of approximately $620 million as of September 30, 2006, and an unmatched set of solutions. We believe this will be a compelling value proposition for our customers, our employees as well as our investors who will witness a more competitive company better able to leverage its significant resources," said Waechter. This combination is expected to close no later than early calendar year 2007. The new company will be called Harris Stratex Networks.