Asante Outperforms Leading Small-cap Telecom/Internet Companies; San Jose Mercury News Quarterly Roundup Reports Only a Fraction of Companies are Profitable.Business Editors/High Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Feb. 27, 2001 The San Jose Mercury News The San Jose Mercury News is the major daily newspaper in San Jose, California and Silicon Valley. The paper is owned by MediaNews Group. Its headquarters and printing plant are located in North San Jose next to the Nimitz Freeway (Interstate 880). recently published its quarterly earnings roundup (February 25). Asante Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASNT ASNT American Society of Non-destructive Testing ASNT American Society for Neural Transplantation ASNT Astrological Association of North Texas (Dallas - Fort Worth Metroplex) ASNT Application Sharing Nt .OB) compares very favorably to other Telecom/Internet stocks reporting quarterly earnings and revenues. Of the 100 Silicon Valley companies in this segment, nearly 75% were not even profitable. For stocks with price/earnings (P/Es) less than 10 and priced below $10/share, Asante's stock appears to be the best value. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bloomberg.com, an equal number of shares invested in Asante at the beginning of this year would provide a greater total return than other networking companies, and even the NASDAQ exchange itself. Best P/E P/E See: Price/earnings ratio of Small-Cap Networking Companies "I am pleased with our performance and the efforts we have made to turn our company around," said Wilson Wong, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Chairman of Asante. "Asante leads other small cap stocks in the Mercury News roundup. While the P/Es of comparable companies range from 59 to 115, Asante posts a healthy P/E of 10." COMPANY P/E TOTAL RATE OF RETURN Asante (ASNT.OB) 10 33.90% Cisco (CSCO) 59 -36.01% Extreme Networks (EXTR) 115 -6.56% Juniper Networks (JNPR) 111 -32.48% Proxim (PROX) 94 -30.21% NASDAQ Exchange (QQQ) -18.32% NASDAQ 100 (NASDX) -5.42% Sources: P/E from February 25, 2001, San Jose Mercury News, Total Rate of Return from January 2, 2001 to February 22, 2001, Bloomberg.com. Future Plans Asante plans to continue its positive trend with these three future directions for the company: -- Capitalize on Emerging Multi-Tenant Unit (MTU) Opportunities. In MTUs--such as commercial buildings, hotels, and apartments--tenants can soon share the cost of a high-speed Internet link, which will be piped in through a small point of presence. -- Develop high-speed LAN switches and cards. Asante's Gigabit Ethernet switches and network interface cards are setting the standards in high speed networking. -- Create high-speed Internet gateways. Asante's FriendlyNET Internet Router has already received 6 awards from the media. The awards include "Best Buy" - PC World, "Best Value" - Macworld, and "Outstanding" - MacsOnly. New wireless and storage products will soon be added to this family. About Asante Asante Technologies is the leading provider of network solutions for small offices/home offices, education (K-12 and higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. ), and enterprises. The Company's FriendlyNET products simplify networking and provide Internet access for mobile and office professionals. The Company's IntraCore products support multi-service applications for large enterprises. For additional information -- and to view the presentation shown at Asante's recent shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. -- visit www.asante.com or call 800/566-6680 for FriendlyNET products or 800/303-9121 for IntraCore products. Asante is a registered trademark. FriendlyNET and IntraCore are trademarks of Asante Technologies, Inc. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or anticipated results, including those risks set forth under the caption "Factors Affecting Future Operating Results" in "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations" of the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended September 30, 2000 and in the Company's Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. and other reports filed from time to time with the Securities and Exchange Commission. Such risks include the company's potential need for additional financing, and the company's ability to attract and retain qualified personnel, competition, and technological change. Readers should carefully review the risk factors described in such reports and other filings made by the company from time to time with the Securities and Exchange Commission. |
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