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Technology Stocks : Summit Design (SMMT)-Another EPIC? -- Ignore unavailable to you. Want to Upgrade?

To: Claude Edelson who wrote (66)	4/23/1998 5:30:00 PM
From: Andrew Furst	Read Replies (1) \| Respond to of 100

SMMT beat the estimates by 2 cents and doubled the earnings/share of previous year's quarter. Earnings were actually better sequentially (on a pre-tax basis) than in the 4th quarter of '97 (21 cents/share), but now SMMT is nearly fully taxed, whereas they paid no taxes in that quarter. Hopefully, "The Street" will notice the tax situation, and not assume that earnings fell sequentially. Could see possible increases to analyst forecasts for this year and '99, though probably not by a huge amount (at this point). The fact that SMMT put up these numbers even with the Asian situation is positive. All in all, I'd say it's very good, though not quite the blowout that we might have dreamed.