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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (43496)	4/9/1998 8:09:00 PM
From: Narotham Reddy	Read Replies (2) \| Respond to of 61433

CNNfn - ASND Sees Strong Demand for the rest of '98 Computer networking company sees strong demand for rest of 1998 April 9, 1998: 6:53 p.m. ET NEW YORK (CNNfn) - Ascend Communications, Inc. on Thursday reported first-quarter earnings of 26 cents a share, edging analyst estimates of 25 cents a share. The computer networking giant posted a loss of 88 cents a share in the first quarter a year ago.. Ascend reported a profit of $52.4 million on $305.1 million in revenue for the quarter, compared with a loss of $163 million on $292.7 million in revenue in the year-ago quarter. Mory Ejabat, Ascend president and chief executive officer, said he expects strong demand for networking products for the rest of 1998. "North America in particular showed strength driven by strong demand for access ports," he said. "We expect growth from the consumer segment, driven by both new subscribers and increasing connect times, will drive demand." Ejabat also cited key new customers, including GTE, and new product introductions for the strong earnings showing. Bert Hochfeld, computer networking analyst at Josephthal & Co., said there were no big surprises in Ascend's earnings statement and that business in Asia will continue to be slow. Shares of Ascend (ASND) fell 15-16 to 39-1/2 at Thursday's close but before the announcement. The stock changed little in after-hours trading.