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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (3429)	4/21/1999 4:08:00 PM
From: Frank A. Coluccio	Respond to of 12823

Mike, thanks for pointing that article out. PM me if you want a copy. Frank

To: MikeM54321 who wrote (3429)	4/22/1999 9:36:00 AM
From: MikeM54321	Respond to of 12823

Re: ANTC Earnings Thread, Well the number at first glance appears extremely good, but if you subtract out the $.79/share from the sale of LANCity, then it ends up being $.13/share. Estimates were for $.12/share. So they are still good. But it's confusing as to not including revenue from LANCity products but include channel fees. I can't tell if they mean channel fees go to the top line or bottom line? And I wonder why they would only include the fees and not the revenue from LANCity? I don't think the comments regarding, "revenue could have been significantly better"... was called for. But I believe it's not unusual for ANTC to be this straight forward. The last few paragraphs are really the significant ones IMHO. Sounds like the AT&T spending plans are on track. MikeM(From Florida) ---------------------- ANTEC Announces First Quarter Results and Further Details On Cable Telephony Orders; Net Earnings Up 251% Sequentially April 22 -- ANTEC Corporation announced today sales for the first quarter of 1999 of $145.3 million and diluted earnings per share of $.92 These results do not include any revenues for LANcity products, which were approximately $15 million for the first quarter, but do include approximately $2.2 million in channel fees earned for sales of LANcity cable modem products in the first quarter. Net income also includes the previously announced gain of $.79 per diluted share associated with the $60 million pre-tax gain recognized in the quarter from the completion of the combination of the LANcity business with Arris Interactive, the ANTEC-Nortel Network joint venture.... "Revenue is significantly ahead of 1998 financial results, yet the Company would have achieved even higher sales had it been able to produce more of several new manufactured products which experienced strong order input late in the quarter," said Bob Stanzione, ANTEC President & COO. "The production ramp up of these new products will improve margins going forward as the growth of our higher margin manufactured products catches up with the strong growth we experienced in the quarter for our traditional distributed and Cornerstone products."...... "The previously announced purchase agreement and initial order for Cornersone products with AT&T, and the follow on letter of intent for headend equipment is firming up very favorably for the Company," said Stanzione. "We now anticipate that in the near term AT&T will shift its Cornerstone product focus, sharply increasing its purchases of headend Host Digital Terminals(R) (HDT) for the 10 TCI major markets while spreading out current purchases of voice ports as distribution plant is being upgraded and readied. We have already received firm orders from AT&T for over 200 HDTs. This is very good news for the Company as it indicates an expansion of the all important Cornerstone HDT footprint and bodes well for Voice Port deployment in early 2000. Aggregate AT&T sales of Cornerstone product should meet or exceed the approximately $100 million level referred to in previous announcements." Under the terms of the overall framework agreement, AT&T can buy over a three and one half year period, cable telephony equipment required to serve 2,000,000 homes which could represent $900 million in sales. Since the initial announcement in October 1998, AT&T has also reached agreements with TCI affiliates and Time Warner that now increases the service area where AT&T plans to offer telephony over hybrid fiber coax (HFC) networks to over 43 million homes. Over 1.9 million homes now have access to Cornerstone cable telephony and lines in service have increased to over 100,000 lines. "We are very pleased to see cable telephony realize our long-held vision of a potent facility-based competitor in the local loop," said Egan. "The completion of the AT&T/TCI merger both endorses and paves the way for accelerating implementation of cable telephony. We expect that the year 2000 will introduce both a new communications millennium and a fundamental change in the local loop bottleneck. The closing of the LANcity transaction positions ANTEC to be a major supplier for these burgeoning telephony and data markets and their related HFC infrastructure products."....