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 Upgrades LCC to 'Sector Outperform'

CIBC World upgraded LCC International (LCCI) to sector outperform from sector perform.

On Tuesday the telecom-equipment company posted a 19-cent second-quarter loss (GAAP) on 49% higher revenue. Analyst Earl Lum says gross margin rose to 18.3% in the second quarter from 14.8% in the first quarter. He says management continues to provide limited guidance, noting that sales should continue to grow, and LCC should approach breakeven in the third quarter and return to profitability in the fourth quarter.

He thinks LCC's backlog of more than $150 million, up 90% sequentially, supports his expectation for strong third-quarter growth. He upped the $81.4 million 2003 revenue estimate to $105 million, and upped the $100 million 2004 revenue estimate to $140 million.

Lum also narrowed the 45-cent 2003 loss to a 33-cent loss, and raised the 4-cent 2004 loss to 27 cents earnings per share. Finally, Lum set a $6.85 target.

blog comments powered by Disqus