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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: Jerryco who wrote (2325)	7/19/1998 12:37:00 AM
From: Jerryco	Respond to of 12623

Additional comments from D. Dickerson of the Tellabs thread: From: Dave Dickerson Saturday, Jul 18 1998 1:36PM ET Reply # of 2755 To all-the 2nd part of review of teleconference on 7/16/98. Jerryco please post these posts in Yahoo thread and Ciena tread,as we need to bring them on board. Asian sales were flat, so sales in Africa, Europe, and So. Amer. were ramped up to get +23% in Martis sales, otherwise, we would have had a real blow out ¬. The Coherent merger is a done deal IMHO.The Ciena merger will be voted by shareholders on 7/20/98 with shareholder meetings on 8/21/98. Deal is moving ahead with no major glitches. We are in quiet period, so nothing can be said about prospects, plans. Dept. Of Justice granted early termination of waiting period., it should close in 3rd ¬. There has been talk that mergers are easier to do with stock swaps, rather than big debt loads Ciena is cozy with a number of cos. including Cisco,AT&T,etc.The first report of combined cos. could be coming 3rd or 4th week of Oct. '98, with merged details for 3rd ¬ and going back to all of 1997. Lots of time is being spent on planning, usage of various depts. Sales, R&D will be intergrated. After these two mergers, IMHO Tellab's will catch it's breath before other deals. IMHO there is not enough stock left for 2 for 1 split, so until bd. approves more stock, will just have to aim for $95-100 by year's end. About 31 analysts had questions for mgt. team ( 10 more than last time) Tellab's will probably host a post merger Chicago analyst's confab, to bring them totally up to date. Where did that Chip Hunter go?,the bear that thought Tellab's was going to $32 by end of 1998. These analysts offered congrats and were impressed with results.Mike B. Pres. Said "there are all sorts of opportunities to combine products with Ciena,and intensive planning is going on. Optical networking is a priority and the wave of the future." Titan new versions coming that are double in size with optical interfaces and seamless solutions. Titan is needed to break down traffic into usable pieces. Martis sales should be $400m in 2nd «. New stuff coming in ATM systems, watch for news. When AT&T or Lucent makes announcements of new products, that increases competition, and it means that other companies need to spend more capital to provide competitive solutions( read that to mean buy more Tellab's Gear) Bell Atlantic,new sales coming. Tellab's has new products coming, and will remain strong and competitive" our mgt. team says. There is potential for 6-7% dilution of net earnings per share ( after merger with Ciena) This is because Ciena's net earnings were less then Tellab's ( but remember their net earnings have been growing twice as fast as Tellab's,so give them 6 m. and they should be up to speed. More Later An old AGGIE, who likes to play with figures and who is a long time bull on Tellab's' and who will retire a millionare because of them. DAVE DICKERSON