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

To: Asymmetric who wrote (3396)	9/21/1998 11:44:00 PM
From: pass pass	Respond to of 12623

Thank you very much. I need to high-light this part: But Nettles had more serious problems on his mind than the mysterious e-mail when he called Birck with more alarming news on the Friday before Labor Day. Ciena's management had reanalyzed its business prospects and found that "fourth-quarter revenues could go as low as $90 million," Nettles told him. The first quarter of 1999 looked about the same. "Isn't that a loss?" a surprised Birck asked. "Yes," Nettles replied. Birck sighed. Word of the third-quarter revenue shortfall had been bad enough. Now this bombshell. "I think our shareholders are going to rebel," he told Nettles. Birck knew Ciena faced stiff competition, but even analysts who had already reduced Ciena's fiscal 1999 revenue estimates had not predicted this kind of shortfall. I think CIEN will be dead money for at least 3 quarters barring any takeover bid.