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Technology Stocks : Harmonic Lightwaves (HLIT) -- Ignore unavailable to you. Want to Upgrade?

To: Hiram Walker who wrote (1949)	3/2/1998 2:46:00 PM
From: Smilodon	Read Replies (1) \| Respond to of 4134

Notes from HLITs presentation at BARS Tech Conference Growth Strategy - Grow fiber optic transmission business - Roll-out Transcend headend - Ramp up New Media - Integrate product lines for convergence of audio, video and data Sales by Product line - Transmitters 63% - Return path products 26% - Receivers 11% Q1 is always slow and they don't expect an immediate bounce. The business is still slow due to property shifting. Expect to do the majority of Q1 sales in March. Had two orders in Southern CA delayed due to rain. Will be shipped in Q2. Expect 98 to be better than 97. (very confident on this issue). Says TCI is the reason. TCI has a warehouse full of equipment, but none of it is HLIT's products. Other operators are rolling along with their upgrades. Data interest is everywhere. Foreign business also looks to be stronger than 97. Said the equipment market stopped suddenly last year, and it will be slow to ramp back up. Last year HLIT had very limited new products. This year is much different. Have improved their receiver lines dramatically and will introduce many new fiber optic products later this year. They will discuss these products soon. My assessment: Got lots of confidence in cable modem rollout from all over the conference. (Same as at Montgomery last month) HLIT was very upbeat on TCI although didn't say anything specific. That is much better than the TCI impression I got from them last month. The company seemed very confident about 98, although are still repeating that Q1 will be slow. I think the investment thesis remains, with a poor Q1 and ramp up later in the year. My confidence in late 98 was reinforced by their presentation and later breakout session. Net-Net, a good long term investment with substantial upside. Could be risk in the short-term