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

To: Mama Bear who wrote (2868)	9/10/1998 2:46:00 PM
From: Beltropolis Boy	Respond to of 12623

>>After I posted the company overview and reread it, I couldn't believe I made the >>original investment. >>CIEN looks so clear in hindsight. >Hey! I resemble that remark. don't knock yourselves so hard, kids. stock slide notwithstanding, the pirelli fallout appears a wee bit overblown to me and it seems a stretch one could have foreseen this one. via today's washington post: ----- Analysts had been expecting Ciena to get about $25 million in revenue from Digital Teleport in 1998, and some expressed surprise at the size of the company's purchase from Pirelli. Though few noticed at the time, analysts yesterday said Digital Teleport may have signaled it favored Pirelli in an Aug. 14 filing to the Securities and Exchange Commission. In the document, Digital Teleport said it was "dependent primarily" on Pirelli for DWDM equipment and "to a lesser extent, Ciena Corp...." Also on Aug. 14 Ciena announced its third-quarter profit and revenue would fall far short of Wall Street's expectations. In its announcement, the company blamed the shortfall in part on "an unexpected late-quarter delay of receipt of an order of more than $25 million from an existing customer." Bilter declined to comment on whether that statement referred to expected revenue from Digital Teleport. washingtonpost.com