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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Chris Stovin who wrote (10070)	3/5/1999 4:54:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 18016

From a Merrill report the day before the conference call with Alan Lutz... Note this is talking about the industry, not any one particular company. Investment Highlights: n Revenues: ... · ATM WAN switch revenues increased by 19% sequentially and 52% year-over- year to $561 million. This represents a substantial improvement from the flat sequential and 42% year-over-year growth in the September quarter. n Unit Shipments: ... · ATM WAN shipments increased by 18% sequentially and 53% year-over-year to 83,000 ports. n Pricing Trends: ... · In the ATM WAN market, pricing remained stable. ASPs were relatively flat sequentially and year-over-year at $6,775 per port. This is the third consecutive quarter where pricing has changed by +/- 1%. Market size is estimated to grow to $2.5B from $1.9B 1999 over 1998. NN was estimated to have an 18% share of that market. In the conference call, Alan indicated that he strongly believes that NN is increasing its share from the 21-22% that it had held in prior quarters. This would strongly imply that the Street is significantly underestimating NN's revenues for 1999.