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To: pat mudge who wrote (11754)	6/3/1999 6:48:00 PM
From: zbyslaw owczarczyk	Respond to of 18016

Crosskeys Cushions Poor Quarter With Major Deal By Susan Taylor OTTAWA (Reuters) - Canadian telecommunications software developer CrossKeys System Corp. announced a $5-million deal Thursday, cushioning the blow of weak fourth-quarter results released earlier in the day. The results were in line with an earnings warning issued last month. CrossKeys reported a net loss of C$6.8 million, or 37 Canadian cents a share, on sales of C$5.2 million for the quarter ended May 2. Excluding one-time charges, the firm had a loss of C$4 million, or 21 Canadian cents a share. In the same period last year, CrossKeys reported net income of C$1.6 million, or eight Canadian cents a share, on sales of $11.1 million. For this year's quarter, the company took a C$3.8 million restructuring charge related largely to the sale of a part of its software project business. The charge included C$2 million for the writedown of assets, C$900,000 to reduce facilities from 12 to eight or nine, and C$800,000 for staff reductions, which will likely come in Latin America, South America and Asia. Crosskeys, which has 277 staff, won't cut any of the 200 employees at its headquarters just outside Ottawa. The firm's software is used by telecommunications companies to monitor, fix, and upgrade their networks. After Crosskey's issued its warning on May 10, shares in the firm took a drastic dive, sinking 23.3 percent to a new 52-week low. CrossKeys shares dropped 15 Canadian cents on the Toronto Stock Exchange Thursday to close at C$5.35 before the results were released. The company, an affiliate of Newbridge Networks Corp. (NYSE:NN - news), failed to close several sales in the quarter as it began to reposition its business from project to product revenue. The situation was worsened by the departure of several key customers including Siemens AG . CrossKeys Chief Executive Ian McLaren said the C$5-million five-year software deal announced Thursday, the firm's largest ever, is ''wickedly exciting.'' He also indicated there are more such sales to come. ''If we can do this right, we can blow right through the ceiling,'' he said during a conference call. Chief Financial Officer Steve Spooner said the company expects to meet analysts' expectations of revenue in the range of about C$45 million for 2000. Analysts expect sales of C$70 million in 2001. For fiscal 1999, the firm recorded a net loss of C$1.5 million including extraordinaries, or eight Canadian cents a share, on sales of C$43.8 million. Before extraordinaries, there was a profit of C$2.1 million, or 11 Canadian cents a share. In 1998, the company had a profit of C$4.8 million, or 28 Canadian cents a share, on sales of C$38.7 million. ($1-$1.48 Canadian)

To: pat mudge who wrote (11754)	6/4/1999 9:06:00 AM
From: zbyslaw owczarczyk	Respond to of 18016

RESTON, Va., June 3 /PRNewswire/ -- Nextel Communications, Inc. (Nasdaq: NXTL - news) a leading provider of wireless communications services, today announced the receipt of $137.7 million from the previously announced sale of its 50% ownership interest in NEXTBAND to NEXTLINK Communications (Nasdaq: NXLK - news). As contemplated under the agreement, NEXTLINK elected to pay Nextel the entire purchase price in cash. NEXTBAND was a joint venture formed by Nextel and NEXTLINK to participate in the Federal Communication Commission's auction of Local Multipoint Distribution Services (LMDS) spectrum. The purchase price represents a $70.5 million gain over Nextel's $67.2 million investment that was made in March 1998 in connection with NEXTBAND's purchase of LMDS spectrum in the FCC auction. Nextel Communications Inc., based in Reston, VA, is the leading provider of fully integrated wireless communications and has built the largest guaranteed all-digital wireless network in the United States that covers thousands of communities across the United States. Nextel and Nextel Partners, Inc. currently serve 92 of the top 100 U.S. markets. The Nextel National Network offers a fully integrated wireless communications tool with digital cellular, text/numeric paging and Nextel Direct Connect® -- a digital two- way radio feature. In addition, through Nextel International, Inc., Nextel has wireless operations and investments in Canada, Mexico, Argentina, Brazil, the Philippines, Peru, Japan and Shanghai, China. Please visit its web page at nextel.com. Nextel, the Nextel logo, and Nextel Direct Connect are trademarks and/or service marks of Nextel Communications, Inc. Microsoft and MSN are trademarks for Microsoft Corp. SOURCE: Nextel Communications, Inc.