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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Don Beals who wrote (2607)	12/17/1997 2:22:00 PM
From: Donn	Respond to of 18016

Crosskeys, the "offshoot" of Newbridge is trading on Toronto on a when issued basis. Symbol cky.w Glad to see upgrade Don good trading. db

To: Don Beals who wrote (2607)	12/17/1997 10:22:00 PM
From: Roman	Read Replies (1) \| Respond to of 18016

Our current estimates of $1.50 for fiscal 1998 and $2.25 for fiscal 1999 seem appropriate (i.e. in line with Newbridge management's latest guidance, effective today).ÿ Newbridge will report Q3 results on February 24, and the expectation is $0.36 compared to $0.32 reported in Q2.ÿ Further improvement to the $0.44 level is anticipated for Q4. As noted, Newbridge's flagship WAN/ATM products should continue to display strong, sequential, quarterly growth, while traditional TDM-based products have slowed to 5-6% year-over-year growth.ÿ The Company remains in an extremely sound financial position with $318.0M in cash, or $1.67/share.ÿ With its recent spike down in share price, Newbridge was trading at 20.0X our fiscal 1999 EPS target, which historically represents a minimal, premium, relative P/E ratio.ÿ Our tendency is to view Newbridge as an ACCUMULATE (short and long term) at current prices.ÿ For additional reference, please note our November 26 comment on the Company.