| To: EightyEight who wrote (10480) | 2/24/1999 10:46:00 AM | | From: JakeStraw | | | |
The following release was issued over the wire at 8:00 AM, EST, Wednesday,
February 24, 1999:
FORE Systems Contact:
Jim Blew
Public Relations
Phone: (724) 742-7745
Fax: (724) 742-7742
Email: jblew@fore.com
FORE SYSTEMS' PRESIDENT AND CEO, THOMAS J. GILL, DELIVERS KEYNOTE AT THE 'IT FOR WALLSTREET '99' CONFERENCE
GartnerGroup/Ziff-Davis Event Brings Together Leading Securities,
Banking and Insurance Companies
Pittsburgh, PA - February 24, 1999 - FORE Systems, Inc. (NASDAQ: FORE), a leading global supplier of Application Aware networking solutions, today announced that its President and Chief Executive Officer, Thomas J. Gill, will deliver Thursday's keynote address at this week's "IT for WallStreet'99" conference and exhibition in New York City. Mr. Gill's presentation, entitled "Building Application Aware Networks for Competitive Advantage," will highlight the importance of an intelligent network foundation.
"The competitive landscape in today's financial services industry is extraordinary - and that competition is fueled by the need for
information," said Gill. "Those organizations with fast, reliable access to the right information at the right time stand to profit significantly. FORE Systems has invested heavily in developing network solutions that can do just that, providing a critical competitive advantage to our customers."
FORE Systems' Application Aware networking solutions allow the network to recognize the kind of traffic flowing across it, empowering the network manager to prioritize business-critical traffic flows over other non-critical traffic. For example, a financial services company with an Application Aware network infrastructure from FORE would be able to prioritize time-sensitive market data traffic and applications over email
or Internet traffic. That way, as the network becomes congested, the market data applications would still receive the highest levels of performance and availability.
Mr. Gill's presentation will be delivered on Thursday, February 25th at 8:30 a.m. at the Jacob K. Javits Convention Center in New York City. |
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| To: G. H. who wrote (10482) | 2/24/1999 1:52:00 PM | | From: Esway | | | |
Wednesday's top news
Latest dispatches from the
Robertson Stephens tech show
By CBS MarketWatch
Last Update: 1:05 PM ET Feb 24, 1999
FORE Systems Inc. (FORE) expects "dramatic increases" in revenue starting with the June quarter. Chief Executive Tom Gill, speaking to a reporter after his presentation , said the company's previous guidance for its fourth quarter, ending in March, stands. The company, which makes network switches and other equipment, previously guided analysts lower. Gill said new-product sales will kick in after this quarter |
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| To: Esway who wrote (10483) | 2/24/1999 3:46:00 PM | | From: michael m | | | |
What's wrong with this stock!! Every time there is an upside, the stock tanks. Today it hit 18, than took a dive to 16. I've been holding on waiting and waiting but my patience has grown short. Is there really any promise in their products or is it just wishful thinking that they could increase market share with their ATM switches. Any insight from anyone?
MM |
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| To: michael m who wrote (10485) | 2/24/1999 4:10:00 PM | | From: shk | | | |
The volume's roughly 5,000,000
so my guess is that the morning's strong move up triggered activity both by shorts and by those who got in last week in the 12's and 13's with an eye to selling the first day of steady trading over 17 |
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| To: michael m who wrote (10485) | 2/24/1999 4:50:00 PM | | From: Rich | | | |
Owning this stock=patience and frustration.
Gill's comments about the June quarter is once again Fore dangling the carrot out there.
Sounds familiar like "we have a backlog of orders". We all expected them to exceed last quarters numbers but once again dissappointed.
Patience until the summer? HMMMMMMMM |
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| To: G. H. who wrote (10482) | 2/24/1999 5:50:00 PM | | From: JZGalt | | | |
The network switching company told money managers at the BancBoston Robertson Stephens tech conference on Wednesday that they should expected a "dramatic increase" in revenue for the quarter ending in June.
That's when sales of the company's new products are expected to show up in top line. To make sure, CEO Tom Gill said the company is marketing to the executives on the highest ranking officers in the companies that buy their products
"We're taking the decisions to the top decision makers in corporation -- the CEOs, the CFOs, the CIOs," he said. "We're marketing our strategy toward that particular audience."
[blah, blah blah, snip]
In notes prepared for the conference, Robertson Stephens analyst Paul Johnson pointed to the "an acceleration in the decline in pricing for ATM switches and network interface boards, and the potential for increasing competition within the market for ATM products as well as the challenge of competing against the larger industry giants.
That's probably one reason why Gill focused more on the top line than the bottom-line during his presentation. Afterward, he told CBS.MarketWatch.com that he's comfortable with current Wall Street profit expectations. According to First Call, those would be 12 cents a share for the March quarter, 14 cents in June.
What does Johnson think? "At current levels, FORE's stock valuation is not cheap, especially when compared to larger, less volatile companies."
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Wonder what magic valuation tool he is using? |
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