The New QLogic (ANCR) | Stock Discussion Forums

To: nic who wrote (14453)	2/19/1998 8:48:00 AM
From: Dean Wilson	of 29386

Nic, you wrote: <<but once again we've thrown in everything but the kitchen sink... 10 cents in special charges! Just how many quarters can you do that and still call them "special"?>> I agree. In 4th quarter of 1996 we thought ANCR threw everything in but the kitchen sink; in 3rd quarter of 1997, we thought the same thing, saying "let's let Snyder and company clean things up this quarter, so we can get on with it." Well, surprise, surprise. They decided they needed to clean house for yet another quarter. This is hard to take. And the annual losses: ANCR has a frightfully accelerating pattern here for the last three years comparing year to year: (26%),(62%), (86%). Wow. It's OFFICIAL (except for the audit): 1997 was a real scorcher! Dean still long . . . barely

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To: joe v who wrote (14460)	2/19/1998 8:52:00 AM
From: iceburg	of 29386

I like that the Reg-D holders that held on were rewarded with the opportunity to supply the next round of financing. I also liked that the shares are not automatically converted until the year 2001. It appears these guys might be in for the long haul. The testimonial from IBM was very nice. I think the entire FC community will glom onto that one. The special charge was special. I suppose we are still cleaning out useless inventory from the previous team. With a market cap of around 100M, I guess a 1M write-off isn't going to damage their real value though - whatever that winds up being - somewhere between 0 and 1Bill I suppose. On track on OEMs sounds nice. Steve

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To: nic who wrote (14453)	2/19/1998 9:11:00 AM
From: Neil S	of 29386

Quick Look: Charges- The result of biting the bullet and narrowing the focus in high performance networking applications to four specific niche verticles where they have had success, with customers who can benefit from the performance advantage of FC, marketed through resellers who know the customer. Reality.com. Financing- If the holders of the Series B are still holders from Mar 97 then they are more investors than traders. Depends on price, but the primary variable is "get the money" to support pending Storage OEM rollout in second half, dilution is a fact of life in this kind of development state company. Brocade has had four rounds of financing since being founded in 1995. Storage OEM- Story remains unchangen from Q3. Sounds like they feel they are very competitive...TBD. IBM Installation- That's a good thing. Data backup's back. FC chosen over ATM and GE. Interesting. Neil

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