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Technology Stocks : Excel Switching Corporation (XLSW) -- Ignore unavailable to you. Want to Upgrade?

To: Ram Seetharaman who wrote (102)	4/27/1999 4:41:00 PM
From: Bob Thompson	Read Replies (1) \| Respond to of 222

looking good: Excel Switching Corporation Announces First Quarter Results; Q1 Revenues up 43%, Net Income increased 39% over Q1 1998 BusinessWire, Tuesday, April 27, 1999 at 16:18 HYANNIS, Mass.--(BUSINESS WIRE)--April 27, 1999--Excel Switching Corporation (NASDAQ:XLSW), a leading provider of open switching platforms for telecommunications networks worldwide, today announced first quarter results for the period ending March 31, 1999. Revenues for the first quarter of 1999 increased 43% to $36.6 million from $25.6 million for the first quarter of 1998. Net income for the first quarter of 1999 increased 39% to $7.4 million from $5.4 million for the same period in 1998. Diluted earnings per share were $0.19 for the first quarter of 1999 versus $0.14 in the first quarter of 1998, an increase of 36%. "We are extremely pleased with our results for Q1," said Robert Madonna, Excel's President and CEO. "Due to the increased demand for our open technology, we've made significant strides in broadening our customer base. For the first time in our history, no one customer represented 10% or more of revenue, and sales to international customers increased from 11% in 1998 to 30% of revenue. In addition to our strong financial performance, we introduced several ONE Architecture(TM) products throughout Q1 and into Q2 including EXS ExchangePlus, VDAC card, EXS Media Gateway, EXS Call Control, EXS Services, and other related products. These releases are important to our strategic expansion into the converging voice and data network infrastructure markets. Excel also recently announced a definitive agreement to acquire RAScom, Inc. We continue to work on a project that began in 1998 to integrate RAScom's open remote access server technology into Excel's Expandable Switching System (EXS). The introduction of these voice and data products are expanding our addressable markets and creating exciting new business opportunities for Excel."

To: Ram Seetharaman who wrote (102)	4/27/1999 11:54:00 PM
From: tejek	Respond to of 222

The revenue increase is great and the $.19 eps is ok .....that was the whisper number; for my blowout we needed $.20 or better. Not that i think xlsw will go down tomorrow...i think there will be a pop up; another point or two before it rests. I think kinnard's price target of $31 is a little conservative, don't you? With a 43% increase in revenues and a projected $.86 eps for 1999 , i think $36+ is a better number based on the fundamentals. Besides bigger numbers look better in our portfolios....don't you agree?!!