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Technology Stocks : Osicom(FIBR) -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (9524)	4/23/1999 9:20:00 AM
From: Sir Auric Goldfinger	Respond to of 10479

Osicom Tech - Core Ops : Sees 1Q GigaMux Pdt Revs $4.5M (for those who don't want to YHOO) SANTA MONICA, Calif. (Dow Jones)--Osicom Technologies Inc. (FIBR), in response to its share price decline and shareholders lawsuits this week, said its core products and potential for growth in its core operation, the optical networking unit, remain on "solid ground." As reported Thursday, Osicom said it expects no further payments above the $68,000 it received under a Japanese supply contract, which Osicom said last July had an estimated value of $90 million. The disclosure prompted several shareholders lawsuits, alleging the company and its officers and directors committed securities violations by misrepresenting details of the contract. The company's Far East wireless products unit had secured the contract last year to supply wireless personal data assistant communications products to the unidentified Japanese customer. In a press release Friday, Osicom said it expects revenue from the shipment of its optical networking unit's GigaMux product to exceed $4.5 million for the first quarter ending April 30. Revenue from this product for the year ended Jan. 31 was $2.6 million. Osicom reported total revenue of $94.9 million for the year ended Jan. 31. GigaMux is a metro dense wave division multiplexer bandwidth expansion technology designed to increase the bandwidth of fiber optic cable up to 32 times. Osicom has 10 customers for GigaMux. Osicom said it is also optimistic about the launch of a new suite of products in its network access business unit over the next few quarters. Osicom would not comment on the business of its Netsilicon Inc. unit because it has an amended registration statement for an underwritten initial public offering. The shareholders lawsuits and questions surrounding the Japan supply contract have sent Osicom shares plummeting this week. They closed Thursday down 4 15/16, or 47%, at 5 9/16, following a 44% drop Wednesday. The shares had hit a 52-week high of 28 3/4 on March 31. Osicom Technologies provides integrated networking and bandwidth aggregation technologies.