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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (2484)	4/22/1999 9:29:00 AM
From: Martin Goldenberg	Read Replies (1) \| Respond to of 14638

Is earnings release on for tomorrow AM? Anybody confirmed this?

To: Kenneth E. Phillipps who wrote (2484)	4/22/1999 10:04:00 AM
From: Bosco	Respond to of 14638

G'day all again, Ken, you think Juniper is big news <vbg>, there is still a lot of gems to be harvested! For instance, people may have missed this. In biz.yahoo.com it is said that The combination was effected by the contribution of the LANcity assets and business into Arris Interactive. ANTEC's interest in the joint venture was reduced by 6.25% from 25% to 18.75%, while Nortel's interest was increased from 75% to 81.25%. In addition, based on the achievement of certain revenue goals for LANcity products, up to an additional 6.25% of dilution in ANTEC's interest (to 12.5%) may occur. Nortel, however, has the option to take, in lieu of the additional interest in Arris, up to 2,747,252 shares of ANTEC stock. In order to achieve the full amount of ANTEC shares or the full additional 6.25% ownership interest in Arris Interactive, sales of LANcity products from January 1, 1999 to June 30, 2000 must reach or exceed $300 million during such period. The amount of additional Arris interest or ANTEC stock will be prorated on a straight-line basis for sales between $180 million and $300 million. No additional interest or stock ownership will occur if sales of LANcity products during the 18-month period are less than $180 million. The transaction will be accounted for, in effect, as if it were a gain on the sale of the 6.25% interest. As a result, a pre-tax gain of approximately $60 million ($.79 per share after tax on a diluted basis) will be recognized in the first quarter. ANTEC will be the exclusive distributor of LANcity products to domestic cable operators. [note: italic and bold are mine] best, Bosco