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

To: Tom Gebing who wrote (6544)	2/22/1999 9:20:00 AM
From: Michael F. Donadio	Read Replies (1) \| Respond to of 12623

NYTimes:Outlook Brightens for Ciena After Catastrophic '98 Drop By LAWRENCE M. FISHER The beleaguered shares of the Ciena Corp. rebounded Friday after the company reported a surprising return to profitability in its first fiscal quarter. Lost sales and a scuttled acquisition by Tellabs Operations Inc. last September had eroded much of Ciena's once-stellar valuation. ... Recently, though, analysts say the company may have turned a corner. Last week Ciena said it had received a three-year exclusive contract from Telemonde Ltd. a London-based wholesaler of data and communications services. Telemonde forecasted a $200 million roll-out of Ciena equipment over the life of the contract. Separately, Ciena said that extended its existing relationship with Ciena as the supplier of optical networking products for a European network to be built through April 2000. "It sure looks like it's headed in the right direction," said Paul Silverstein, an analyst at BancBoston Robertson Stephens. "From a 50,000-foot level, what you have here is a company that remains at the cutting edge of technology in a very hot, fast-growing marketplace." But before declaring Ciena in the clear, he said, "I'd be more comfortable seeing another quarter of income." ... nytimes.com Go Ciena, Michael