Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

CIBC World Raises Foundry Networks Estimates

CIBC World raised its estimate on Foundry Networks (FDRY).

Analyst Steve Kamman says the company's third-quarter guidance exceeded his $0.04 earnings per share estimate on a $75 million revenue estimate. He says management's comments that a backlog remains strong and the book-to-bill ratio is over one going into the fourth quarter suggests that current momentum is sustainable.

Kamman finds that the company's ability to reposition to enterprise sales over the past year is impressive, although he remains cautious on the sector outlook: He expects the 2003 IT budgets to be flat or down from here. He raised his $0.14 2002 earnings per share estimate to $0.16, and maintains his $0.18 2003 estimate. He continues to rate the company as sector perform with a $7 price target.

blog comments powered by Disqus