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

To: bh who wrote (6415)	2/12/1999 8:06:00 AM
From: Glenn D. Rudolph	Respond to of 12623

CIEN: BANCBOSTON RS has reiterated estimate for fiscal year ending 10/99 of $0.06 on 02/10/99 CIEN: BANCBOSTON RS has reiterated estimate for quarter ending 01/99 of $-0.02 on 02/10/99 CIEN: BANCBOSTON RS has reiterated estimate for quarter ending 04/99 of $-0.01 on 02/10/99 CIEN: BANCBOSTON RS has reiterated estimate for quarter ending 07/99 of $0.03 on 02/10/99 CIEN: BANCBOSTON RS has reiterated estimate for quarter ending 10/99 of $0.05 on 02/10/99 CIEN: NATNBK MONT.SEC increased estimate for fiscal year ending 10/99 from $0.28 to $0.33 on 02/10/99

To: bh who wrote (6415)	2/18/1999 8:02:00 PM
From: bh	Read Replies (3) \| Respond to of 12623

Some specifics from conference call by: cain_delta (31/M/New York, NY) 40975 of 40994 These are some of the points that interested me: 1. Revenues in excess of $97 million consensus estimates. 2. Management clearly trying to be cautious without misleading analysts. However, they indicated that they were comfortable with consensus estimates for 1999. Especially comfortable with next Q's estimates, indicating that "there is better visibility" then they had last quarter (which they beat). This quarter's results will be based on multiple small orders. 3. Multiwave 4000 made up bulk of revenues. 4. Cash and working cap. increased nicely. 5. CFO comfortable that gross margins will be in low to mid 40%. 6. It is clear that additional announcements of products and customers are very near term -- especially out of Japan and with respect to some of there unnamed customers. 7. There was No discussion (even in Q&A) regarding potential takeover. 8. Sprint relationship is strong -- however, rumors regarding second source supplier appear to be true. Reading between the lines, Sprint accounted for approx. 50% of this quarter's revenues. 9. PRICING HAS STABILIZED. This comment led to two or three questions by analysts (analysts also focused on margins, Europe, Metro, % of total revenues attributd to top three cusotmers this quarter). 10. Analysts seemed neutral to positive. 11. Manufacturing output expected to be full capacity latter part of year. 12. CSCO has given some indications of moving into market, but Nettles said that they would have same trouble CIEN would experience if CIEN moved into reuter market. 13. Lucent tough competitor, but hasn't been as active in RFP process as in previous quarters. MY overall impression was positive. Management was dealing with analysts in appropriate manner -- managing expectations, while at same time confirming comfort with current projections. Also gave analysts reasons to believe there will be good flow of positive news releases without promising anything specific. Positive quarter ... hopefully return to profitability will trigger upgrades in next couple of weeks. Posted: Feb 18 1999 7:11PM EST as a reply to: Msg 40956 by cain_delta Replies: View Replies to this Message

To: bh who wrote (6415)	2/18/1999 8:03:00 PM
From: bh	Read Replies (4) \| Respond to of 12623

Cain_delta - comment on conference call by: Rainbow21108 40993 of 40994 Cain_delta, nice job on the conference call. Just want to comment on Sprint-Ciena relationship (#8). It was mentioned on the conference call that Sprint delayed the qualification of second source supplier. This is a very good news for Ciena. I don't think the "2nd supplier" are ready yet, even though they made a lots of announcements (nothing but noise) about their DWDM products. Remember their stock price took a hit when they announced the 1Q99 report last month, which was due to the delay of some contracts. Posted: Feb 18 1999 7:54PM EST as a reply to: Msg 40975 by cain_delta