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Technology Stocks : BAY Ntwks (under House) -- Ignore unavailable to you. Want to Upgrade?

To: Darth Vader who wrote (3725)	1/22/1998 12:05:00 AM
From: Paul Fine	Read Replies (1) \| Respond to of 6980

Darth: What do you mean by "picked up" by major tech "house"? I truely don't understand the implication. Separately, to any of you who have experience with conf. calls, what is the typical company representation in these? By my count, there were at least 5 people answering questions or interjecting clarifications from Bay mgmt. Is this normal? I think some of the confusion of what was being said was due to "over-clarification" of some points. Perhaps more structure and fewer participants(except for "expert witness" clarification) would leave less confusion. Specific areas of confusion that I heard included: 1. When NA may turn around(3rd qtr. vs. later) 2. Impact of Accelar on B to B(VERY confusing, with CFO talking %'s of %'s and CEO talking tenths of percentage points). 3. The issue of sequential growth was a MAJOR screwup. Bay mgmt talked about "wanting" to change historical pattern of 3rd qtr. dropoff in revs, when(as Lindsey of DMG noted today) the thought that Bay even considered that they might see a drop(given the Accelar rampup)in 3rd qtr was not in anyone's earnings forecast model. Bay turned a positive into a negative by how they positioned this point. 4. The Asia % is different because the number of 4-5% came from outside mkt research firms(eg Dell'Oro) and the 10% came from Bay. In closing, Bay has recently hired key IR people(at least one from Dell'Oro)who supposedly have relationships and experience in dealing with the Street. Unless some of you can tell me this conf call was typical for the elite of the tech industry, I think more work is needed. I can be long the stock and high on the company's prospects and still offer constructive criticism. Paul