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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Teddy who wrote (739)	4/28/1999 9:37:00 PM
From: puborectalis	Read Replies (2) \| Respond to of 15615

Conference Call Notes by: beachbum51 3975 of 3977 I'm beat, I'm not proofreading or spell checking this so my apologies upfront. In the order things were discussed: 1. FRO deal, on track for third quarter. No unseen obstacles, Gov't okays on track. 2. Moving up Pacific Crossing completion to December '99. 20Mil Japanese internet users, growing exponentially, Japanese international bandwidth needs growing at 50% a year. 3. Global Marine services one third of all cable in the oceans. Has one third of all service equipment and ships deployed. See continued growth for the foreseeable future. Deals with over 100 of the largest and most important international telco companies. Global Marine is seen as a way of cementing relations and expanding alliances with companies worldwide. Also allows GBLX to speed up deployment of their own networks. 4. GBLX CFO says (Missed the first two minutes of why revenues were down but) was inline with published numbers. Gross margins increased in all areas. Cashflow is extremely strong. Hurt most by change in accounting practices, extra cost of $14 mil for change plus $6 mil in costs associated with hiring new executives. Total $20 mil extraordinary expenses not to be duped in next qtrs. EBITDA adjusted is n the mid 60's. 5. Question from ML - re: S&P positive watch on debt and possibility of BB+ rating. Company has a huge cash horde. In great financial shape. 6. Columbia Mgmt asked about GTS roadshow rumors (sorry I tried to post on these rumors weks ago when Yahoo was having trouble dropping posts) and GBLX says they will be the premier provider and be very very competitive, confident they will be the leader going forward. 7. Other questions were insignicant. Bob A was really "excited" about this and this and this and that. He was excited about everything ! <lol> Everyone was upbeat, things couldn't be better, etc. Not much else to report, it was not the most insightful CC I've ever listened in on. Lots of cheerleading. My guess, there is another deal around the corner, Bob A wants/needs to get the price up quickly.