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Technology Stocks : Cabletron Systems (CS: NYSE) -- Ignore unavailable to you. Want to Upgrade?

To: FNS who wrote (5465)	12/30/1998 12:07:00 AM
From: BWAC	Read Replies (2) \| Respond to of 8358

All: CS email response _______________________________________________ Dear Shareholder, On Monday, December 21, we released our third quarter results. As you're probably aware, revenues for the quarter were $ 329.9 million, as compared to $331.8 million for the 3rd quarter of fiscal 1998. We experienced a small operating loss of 12 cents per share, before non-recurring charges on a fully-diluted basis. We are disappointed with our performance for the quarter, and we know many of you have questions and concerns about the quarter as well as the company's plans for the future. The senior management team takes your concerns very seriously. To that end, we have already put an action plan in place to address our operational issues and return the company to profitability. A key component of that plan is being implemented by Carl Boisvert, Cabletron's new executive vice president of sales. Carl comes to Cabletron from Amdahl, where he led their $1 billion North American sales operation as vice president and general manager. We are extremely pleased to have Carl on the senior management team, since he brings years of experience in solutions selling and sales operations to our organization. In his two-month tenure with Cabletron, Carl has already identified several challenges that are preventing Cabletron from achieving its full revenue potential and protecting its margins. His primary task will be to re-instill discipline, accountability and accurate forecasting into the sales organization, with the ultimate result being improved efficiency. We believe that Carl's efforts, along with a wide range of initatives that impact every aspect of Cabletron's operations, will bring about a discernable improvement in our revenue, operations and ability to meet the expectations of shareholders, customers and employees. Thank you for your comments. Sincerely, Craig R. Benson Chairman and CEO Cabletron Systems, Inc.