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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (40007)	5/13/1999 3:33:00 PM
From: puborectalis	Respond to of 120523

NEW YORK (CBS.MW) -- Investors snatched up shares of high-speed telecommunications specialist Copper Mountain on Thursday, bidding up the newly public stock more than 200 percent from its offering price. The company (CMTN: news, msgs), which sells various products allowing telecommunication service providers to offer a high-speed Internet access called digital subscriber lines, saw its stock rocket on its first trade to 63 in an offering of 4 million shares priced at $21. Originally, lead underwriter Morgan Stanley Dean Witter put an estimated price range of $12 to $14 on the deal. The stock traded as high as 70 11/16 before settling back to 66 in recent action, with a total of 4.6 million shares changing hands so far. Copper Mountain's revenue leaped to $13.2 million in the first quarter, compared to just $317,000 in the year-ago period. Losses decreased to just over $1 million, compared to $3.3 million. Included among Copper Mountain's clients are a few companies that have pulled off some of the year's hotter initial public offerings: NorthPoint Communications (NPNT: news, msgs) accounted for 61 percent of the company's revenue last year, while Rhythms NetConnections (RTHM: news, msgs) was responsible for 18 percent.

To: puborectalis who wrote (40007)	5/13/1999 7:39:00 PM
From: puborectalis	Respond to of 120523

Revenue for Copper Mountain, which started selling its products in December 1997, is expected to top $20 million in 1998 and the company was profitable in the fourth quarter, Mr. Gilbert says. Copper Mountain has raised $45 million in private financing from Intel Corp., Morgan Stanley Dean Witter & Co. and others. The company's success stems partly from a shrewd technology bet. While most competitors focused on a type of DSL called asymmetric DSL, or ADSL, Copper Mountain used two other flavors of the technology: IDSL, for DSL service at speeds similiar to ISDN phone lines, and SDSL, for symmetric DSL. Operating at speeds between 144 kilobits per second and 1.5 megabits per second -- or between 2 1/2 and 27 times the pace of conventional Internet connections -- IDSL and SDSL are slower than the very high speeds sometimes associated with DSL. But they do offer an advantage: the technologies work better over longer lengths of copper phone wire, allowing customers to be farther from the nearest telephone central office. James Greenberg, chief network officer at Rhythms NetConnections of Englewood, Colo., says blanket network coverage is vital for service providers that sell to businesses. "If you're going to play in the business market, you have to cover 100%" of the population, Mr. Greenberg says. Despite its sales successes, Copper Mountain is as practical about competing with networking giants such as Cisco Systems Inc. as it is about choosing its markets. Although an initial public offering is a possibility, Mr. Gilbert says, "A year from now our company will have to be aligned with or even acquired by a larger company." ------ Previous