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

To: Jane4IceCream who wrote (12102)	4/22/1999 5:14:00 PM
From: WTSherman	Respond to of 12559

Will you folks cut all this kiddy crap out, please!! I've got an idea, why not discuss FORE on this thread??? You know, its prospects, management, products, markets, competition, etc.?? Whadda ya think?? FWIW, if .12 is the number and there's nothing new about a takeout you can expect $20 or below in the next few days. Sold my calls today and just kept a few puts, relying on FORE mgmt to turn down a good deal...

To: Jane4IceCream who wrote (12102)	4/22/1999 5:16:00 PM
From: NetworkInvestor	Respond to of 12559

For Immediate Release Pittsburgh, Pennsylvania April 22, 1999 FORE Systems, Inc. (NASDAQ: FORE) today announced financial results for its fiscal fourth quarter and year ended March 31, 1999. Revenue for the fourth quarter of fiscal 1999 totaled $177.7 million, as compared to revenue of $133.8 million reported in the previous year's fiscal fourth quarter. Net income and diluted earnings per share were $13.9 million and $0.12, respectively, excluding unusual compensation and restructuring charges related to the February, 1999 acquisition of Euristix Ltd. in the amount of $34.4 million and a nonrecurring charge for the disposition of inventory and related fixed assets and costs incurred in fulfilling certain fourth quarter and future commitments related to the phase-out of FORE's PowerHub™ product line in the amount of $22.7 million. After including these nonrecurring charges, FORE posted a fourth-quarter loss of $43.2 million and $0.37 per diluted share. Net income and diluted earnings per share for the quarter ended March 31, 1998 were $13.5 million and $0.13, respectively. Revenue for the fiscal year ended March 31, 1999 totaled $632.4 million, as compared to $467.3 million reported for the previous fiscal year. Net income and diluted earnings per share for the year ended March 31, 1999, excluding all unusual charges incurred during the year, were $50.9 million and $0.44, respectively. After including all unusual charges, FORE posted a loss of $207.3 million and $1.87 per diluted share for the year ended March 31, 1999. Net income and diluted earnings per share for the year ended March 31, 1998 were $36.0 million and $0.34, respectively. "I'm very pleased with the revenue growth and operating performance of both our service provider and enterprise businesses," said Thomas J. Gill, President and CEO. "Much of the service provider growth this quarter was fueled by continued sales to Internet service providers. In recent weeks, both UUNet and Cable & Wireless announced network upgrades that include our flagship product, the ForeRunner® ASX™-4000 switch. Many other emerging service providers have seen strategic business advantages to deploying this industry-leading solution and we expect to see our success in this area continue," said Gill. FORE Systems recently acquired Euristix, a leading developer of advanced telecommunications software. "The acquisition of Euristix is a powerful statement about FORE Systems' commitment to our existing and future service provider customers," continued Gill. "We believe we deliver the fastest, most reliable service provider switching platforms in the industry. With the addition of Euristix, we are now positioned to deliver the best software for the provisioning of advanced data, voice and video services in the new public network." Finally, FORE Systems announced the extension of several important customer relationships in the enterprise market. Contracts from Microsoft, Delta Airlines and the United States Navy helped to drive enterprise revenue growth for the quarter. The unusual charges in fiscal 1999 included $199.3 million of purchased research and development incurred in connection with the Company's acquisition of Berkeley Networks in September 1998 and a restructuring charge which related to that acquisition. The Securities and Exchange Commission has questioned these write-offs, and the financial results for the year ended March 31, 1999 and for the quarters ended September 30 and December 31, 1998 may be restated as a result of the Company's discussions with the Commission. Any such restatement would increase goodwill and intangibles and result in charges against the Company's earnings in future periods which would likely have a material adverse effect on the Company's results of operations in such future periods.

To: Jane4IceCream who wrote (12102)	4/22/1999 5:18:00 PM
From: jas cooper	Read Replies (2) \| Respond to of 12559

Let's see... Earnings are out, and all people want to talk about is Tim's foul mouthed reponse to some off-hand remark. I suppose not an unexpected reaction, since the trading god missed his estimates. And when you add all the screwed up charges to their "estimate meeting" twelve cents, you get a pretty bleak picture. jas.