XYLAN SHARES FALL ON EARNINGS NEWS.Byline: Deborah Adamson Daily News Staff Writer The stock of Xylan xylan /xy·lan/ (zi´lan) any of a group of pentosans composed of xylose residues; major structural constituents of wood, straw, and bran. Corp. dropped 17 percent Tuesday after company officials said second-quarter earnings will be lower than the previous quarter due to lower-than-expected sales. The Calabasas maker of computer network switching equipment, whose initial public offering eclipsed Netscape's Wall Street debut, saw its share price plunge The term Plunge has multiple meanings:
The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. reached a record 6.45 million shares, more than six times its three-month daily average of 922,500. Second-quarter performance was hurt by decreased orders from International Business Machines Corp., slower sales of its Ethernet/Fast Ethernet products, and problems with a supplier that delayed sales of a new switching product. Two analysts also downgraded Xylan on Tuesday: Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean
Witter Dean Witter may refer to:
Company officials did not return calls for comment. Decreased orders reflect a maturing of the industry to a still-healthy 20 percent to 25 percent a year, said John Armstrong
John Armstrong (October 13, 1717 – March 9, 1795) was an American civil engineer and soldier who served as a major general in the Revolutionary War. , a networking analyst at Dataquest Inc., a San Jose-based consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a . ``Instead of the market growing in excess of 40 percent a year, we're going to see more normalized growth,'' he said. Armstrong pointed out that the shares of Cabletron, a much larger Xylan rival, also took a tumble after it announced lower-than-expected earnings last week. He also credits the sales slowdown to customers' wait-and-see attitude while the networking industry transitions to higher-performance products. As for chip supplier problems, he said that its not an uncommon problem. The shares of Ascend Communications Inc. fell Tuesday as well after a flaw in a chip it purchased delayed shipments of a key product. Cabletron's share price was also hurt because the company couldn't get parts for its new networking switches. Founded in 1993 by a South Korean immigrant and an emigrant EMIGRANT. One who quits his country for any lawful reason, with a design to settle elsewhere, and who takes his family and property, if he has any, with him. Vatt. b. 1, c. 19, Sec. 224. from the former Soviet Union, Xylan's revenues have risen quickly to hit $128.5 million last year. In the first quarter of this year, sales topped $48 million. Highlights of the company's recent history include a marketing alliance with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) last July, in which Big Blue also agreed to buy $30 million in equipment over the following eight months. Since Xylan went public in 1996, its share price has fluctuated greatly. On the first day of trading, it more than doubled to close at 58-3/8, making paper millionaires out of several top executives. Since then, the company has hit a 52-week high of 59-3/8 on Sept. 27 and plunged to a low of 12-3/8 on April 17. CAPTION(S): Chart Chart: (Color) XYLAN TAKES A TUMBLE |
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