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Technology Stocks : FORE Inc.

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To: Luke who wrote (10570)2/26/1999 7:23:00 PM
From: w2j2  Read Replies (3) of 12559
 
NEW YORK -(Dow Jones)- Shares of Fore Systems Inc., a maker of
telecommunications-networking gear based on the speedy "asynchronous
transfer mode" technology and other formats, fell Friday after the
company indicated that sales for the cureent fiscal fourth quarter could
be back-end loaded, or made very late in the quarter to meet Wall
Street's projections.
Shares of Warrendale, Pa.-based Fore (FORE) fell $2.813, or 16%, to
settle at $14.50 in heavy trading Friday. Entering the final month of
the fourth quarter ending in March, Fore indicated it still must bring
in more than 50% of the revenue needed to meet Wall Street's earnings
expectations.
The mean estimate of analysts surveyed by First Call was for net
income of around 12 cents per share. The company earned 13 cents a share
on $131 million in revenue in the year-ago quarter.
Lazard Freres analyst Michael Duran said Fore's fourth quarter is
usually back-end loaded because many corporate customers don't have
their annual budgets set at the start of the year. A "back-end loaded"
quarter means that much of a company's revenue comes toward the end,
with the heightened risk that any slippage will result in a shortfall.
Duran projects Fore will report earnings of 12 cents a share on $174
million in revenue.
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