'Arms Merchants to the Telecom Wars': Legg Mason Releases Industry Report on the Telecommunications Software Industry.BALTIMORE--(BUSINESS WIRE)--Oct. 18, 1999-- Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Wood Walker, Incorporated today announced the release of "Telecommunications Software -- The Arms Merchants to the Telecom Wars," an equity research report on the telecommunications software industry by Senior Analyst Christopher S. Desautelle, Vice President in the Technology Research Group. The report studies the major market drivers of telecommunications software, including: -- Deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. . As deregulation creates an increasingly competitive "battleground" in the telecommunications marketplace, carriers are investing aggressively in software infrastructure in an attempt to gain "battlefield" advantage. -- Capital Spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. . The appearance of new telecom carriers such as competitive local exchange carriers (CLECs) and Internet service providers (ISPs) has fueled demand for telecom software products to support and expand operations. In particular, the report outlines the next focus of these carriers' capital spending, providing insight into which telecom software vendors should benefit. -- Internet. The rise of the Internet as a communications network has spurred a proliferation of non-traditional carriers, including ISPs, Internet telephony providers, subscription- and usage-based content providers, and so on. This proliferation provides a tremendous market opportunity for vendors of infrastructure software for these types of businesses. "We liken lik·en tr.v. lik·ened, lik·en·ing, lik·ens To see, mention, or show as similar; compare. [Middle English liknen, from like, similar; see like2 telecom software vendors to arms merchants," said Desautelle. "These vendors make money regardless of the battlefield winners." "We believe that with the proliferation of telecom services such as Internet data transport, enhanced wireless communications, cable access, virtual private networks, and so on, the telecommunications market will remain intensely competitive. This bodes well for those software companies that provide the infrastructure to allow these vendors to compete." Legg Mason's coverage of the Telecommunications Software market builds upon the strong research presence of the Telecommunications Group, whose analysts cover telephony (both incumbent and competitive carriers), wireless, telecom equipment and, through the Legg Mason Precursor Group, regulatory issues. "Covering the telecom software industry was a natural evolution for Legg Mason," Desautelle explained. Legg Mason initiated coverage of the following companies on September 30, 1999: DSET DSET Desert Sunshine Exposure Testing Inc. Corporation (DSET - 153/4)(1), based in (Bridgewater, New Jersey), with Buy/Above-Average Risk ratings. Portal Software (PRSF PRSF Presidio of San Francisco (US National Park Service) PRSF Peoples Republic of San Francisco - 52 15/16)(1), based in (Cupertino, California), with Buy/Speculative Risk ratings. LHS (filename extension) lhs - The filename extension for literate Haskell source files. Group, Inc. (LHSG - 35)(1), based in (Atlanta, Georgia) with Market Performance/Above-Average Risk ratings. Legg Mason Wood Walker, Incorporated, a member of NYSE NYSE See: New York Stock Exchange , Inc. and a member SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. , is the principal securities brokerage subsidiary of Legg Mason, Inc. (NYSE-LM), with approximately 1,200 Financial Advisors in 120 offices along the East Coast from Maine to Florida and across the South to Texas, plus affiliate institutional offices in San Francisco, Chicago, London and Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. . Legg Mason, Inc. is a financial services holding company that provides investment advisory, securities brokerage, investment banking and related financial services through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . Additional Information Available Upon Request. The information contained herein is based on sources believed to be reliable, but we do not guarantee its completeness or accuracy. This release is for information purposes only and is not intended to be an offer to buy or sell the securities referred to herein. Opinions expressed are subject to change without notice, and past performance is not indicative of future results. From time to time, Legg Mason Wood Walker, Incorporated and/or its employees, including the analysts who have commented herein, may have a position in the securities mentioned. (1) Legg Mason Wood Walker, Incorporated makes a market in this security. Prices as of close of October 15, 1999. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion