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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