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

To: John M. Gelnieau who wrote (4245)	10/10/1998 1:02:00 PM
From: jach	Respond to of 12623

<i asked ir were cienna's previous guidance on -.04 still on target. the response was yes> still seems like did not get it, ciena will not say anything to that particular question on the phone. Now when did you call? date and time needed.

To: John M. Gelnieau who wrote (4245)	10/10/1998 9:39:00 PM
From: gbh	Read Replies (3) \| Respond to of 12623

John, I think everyone except Jach fully understands what IR told you. IMO, CIEN has completely low balled the quarter. This is not a bad a strategy, and has worked well for other companies recently that have stumbled. Once its clear that the quarter is blown, just forget about even trying to be close to previous estimates, and get all the bad out in one hugely bad quarter. That way it can appear that you have exceeded estimates (even reduced ones). This strategy sometimes works (COMS), and sometimes doesn't (AMD). The fact that analysts are still at .05, when the company is suggesting -.04, tells me that the analysts are starting to catch on to this game, and aren't as willing to buy the company line in such situations. It also would seem to put immense pressure on CIEN if they really come in at -.04 Gary