Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: NotNeiderhoffer who wrote (683)	4/13/1999 11:44:00 AM
From: Kalman	Read Replies (1) \| Respond to of 1331

The split goes into effect Thursday so we'd better crack it today or tomorrow. It just won't be the same popping the champagne over breaking 66 11/16.

To: NotNeiderhoffer who wrote (683)	5/5/1999 12:34:00 PM
From: Beltropolis Boy	Respond to of 1331

excerpts from lehman's latest. estimating $0.45 and $1.88 for Q1 and FY99, respectively. ----- Comverse Tech: To Continue Partnership With Cisco After Amteva Deal Author: Tim Luke (212) 526-4993 Rating: 1 Company: CMVT Rank (Old): 1-Buy Rank (New): 1-Buy Price : $62 15/16 52wk Range: $67-20 Price Target (Old): $66 Price Target (New): $75-80 Today's Date: 04/28/99 Price (As of 4/27): $64 1/2 Revenue (1999): 834.6 Mil. Return On Equity (99): 45.8% Proj. 5yr EPS Grth: 25.0% Shares Outstanding: 76.5 Mil. Dividend Yield: N/A Mkt Capitalization: 4.93 Bil. P/E 1999; 2000 : 34.3X; 28.7X Current Book Value: $4.29/sh Convertible: YES Debt-to-Capital: 0.0% Disclosure(s): C, A * This morning, Cisco Systems extended its profile in the voicemail, email and fax messaging marketplace with the acquisition of Glen Allen, VA based middleware developer Amteva for $170 million causing some investors to question how Cisco will integrate this deal with its recently formed partnership with Comverse Tech. * We believe Cisco and Comverse are likely to continue to work closely together combining Amteva's middleware with Comverse's software applications and network systems expertise. Comverse has worked with Amteva for some time. * We also consider Cisco's primary thrust in working with Amteva is to target the enterprise market and to integrate Amteva's middleware unified messaging solution with its recently acquired IP based PBX solution from Selsius and its call center solutions from new addition Geotel. Comverse does not compete in the enterprise market and is focused exclusively on the service provider arena. * In our opinion, Comverse's competitive positioning remains excellent based on its ability to deliver a full suite of solutions for operators using circuit switched networks, IP (Internet Protocol based) or hybrid architectures. Cisco's offerings are likely to remain focused on greenfield IP based networks. * We believe Comverse is continuing to expand its share of the global carrier messaging market despite the efforts of a larger competitor Lucent/Octel. We maintain Comverse's powerful combination of industry leading technology and an strong installed base of customers should position the company to retain its premier position in this fast expanding marketplace. Reiterate 1 buy Target price $75-80. Stock Opinion: Excellent Visibility, Continues To Expand Share, Reit 1 Buy We believe that Comverse's 1Q99 is progressing well with the company experiencing robust business momentum. Following another round of excellent results, we recently raised our estimates once again. Our FY99 earnings estimates move from to $1.88 and our FY00 estimate is now $2.26. Our revenue targets for FY99 and FY00 and $845 million and $1.001 billion respectively. We believe these new estimates remain conservative and are likely to be subject to upward revisions throughout FY99. We have been encouraged by CMVT's expanding customer list and impressive order momentum. With over 280 customers (10 added during the quarter) Comverse continues to offer compelling solutions to service providers who are seeking to generate additional sources of revenue with enhanced services platforms. We believe Comverse is continuing to strengthen its competitive position in the area versus its primary competitors such as Octel/Lucent and Unisys. We maintain that CMVT is continuing to expand its market share across the global enhanced services market. With Comverse continuing to build its backlog to new record levels we believe visibility on 1H99 remains extremely strong. Beyond the impact of the robust revenue growth outlook, our earnings estimates may also be subject to upward revisions as gross margins continue to improve with Comverse continuing to benefit from a high level of repeat orders from its installed base of customers. Increasing software content may also help boost gross margins. We are reiterating our 1-Buy rating. Our price target range of $75-80 is based on our view that over the next twelve months investors are likely to focus on CMVT's earnings growth in excess of 25% allowing the shares to achieve a multiple of approximately 30x our conservative calendar 2000 estimate range of $2.25-2.50. Disclosure Legend: A-Lehman Brothers Inc. managed or co-managed within the past three years a public offering of securities for this company. B-An employee of Lehman Brothers Inc. is a director of this company. C-Lehman Brothers Inc. makes a market in the securities of this company. G-The Lehman Brothers analyst who covers this company also has position in its securities.

To: NotNeiderhoffer who wrote (683)	5/12/1999 9:13:00 AM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 1331

quod erat demonstrandum (QED). ----- Comverse Technology Announces Realignment; Creating Two Autonomous Operating Divisions: Comverse Network Systems, Inc. and Comverse Infosys, Inc. May 12, 1999 08:18 AM WOODBURY, N.Y.--(BUSINESS WIRE)--May 12, 1999--Comverse Technology, Inc. (CMVT) announced the realignment of its primary operating divisions under two wholly-owned United States subsidiaries, Comverse Network Systems, Inc. and Comverse Infosys, Inc. No charges will be associated with this realignment. Comverse Network Systems, headquartered in Wakefield, Massachusetts, is the world's leading provider of enhanced services platforms to wireless and wireline telecommunications network operators. Comverse Infosys, headquartered in Woodbury, New York, is a leading provider of multiple channel, multimedia digital monitoring and recording systems for call centers and law enforcement and intelligence agencies. As part of the realignment, certain assets of Comverse's principal operating subsidiary in Israel, Efrat Future Technology Ltd., were transferred to a newly-formed subsidiary of the Comverse Infosys division and Efrat's name was changed to Comverse Network Systems Ltd. Comverse Network Systems is led by Francis Girard, Chief Executive Officer, and Itsik Danziger, Chief Operating Officer, who has been elected to the additional office of President. Ailon Michaely serves as divisional Chief Financial Officer. Carmel Vernia, Chief Operating Officer of Comverse Technology, Inc., has assumed the additional position of Chief Executive Officer of Comverse Infosys, and Dan Bodner will serve as President of the division. Igal Nissim, formerly Chief Financial Officer of Comverse Technology, will serve as CFO at Comverse Infosys. David Kreinberg, Vice President Finance of Comverse Technology, has been elected Chief Financial Officer of the company. Kobi Alexander, Comverse Technology's Chairman, President and Chief Executive Officer, stated, "the new alignment of our primary operating divisions is designed to provide improved organizational efficiencies and customer service, more flexible incentives for divisional management and employees and a better structure to accommodate future growth and acquisitions. The transition, under the divisional leaders, all of whom have been with Comverse for many years, has gone very smoothly and we are very pleased with the results."