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Ciena Corporation Message Board

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  • rainy_day_pancho rainy_day_pancho Apr 14, 2003 10:39 PM Flag

    I dont understand how they close the

    "i'm not ignoring anything. this is a high tech start up. at current burn rate they have until 2007 to turn a profit."

    A 6+ year old startup in a highly competitive sector where everyone is starving for business, whose revenues show the greatest yoy decline in the S&P, even after factoring in acquisition-related revenues? Wavesmith is a start-up that suckered Smith into paying 170 mil for- that's why the price is dropping now- shareholders voting with their feet running for the exits.

    "high tech start ups often take years to turn a profit - that's where VC came from."

    Yes, that would be true if their product was a disruptive technology- it isn't. Instead, the sector is littered with a bunch of players struggling to survive.

    PS- the VC came from the secondary offering at $83.50. That was the smartest thing they've ever done, along with insiders cashing in on MILLIONS of dollars of shareholder money.

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