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The Hedge fund Phylon is interested in Orckit!
http://www.quote.com/qc/news/story.aspx?symbols=NASDAQ:ORCT&story=200602012147_EGO_0001021620-00...
zaphod
Orckit Communications to Present at the Thomas Weisel Tech 2006 Conference
Tuesday January 24, 8:30 am ET
TEL AVIV, Israel, Jan. 24 /PRNewswire-FirstCall/ -- Orckit Communications Ltd. (Nasdaq: ORCT - News) today announced that the Company's management is scheduled to present at the Thomas Weisel Tech 2006 conference at the Fairmont Hotel, San Francisco on February 6, 2006 at 9:10 PST.
The Company's presentation will be available via a live webcast at: http://www.veracast.com/webcasts/twp/tech06/35103308.cfm, and will be archived through February 17, 2006.
About Orckit Communications
Orckit Communications Ltd. is a leading provider of advanced telecom equipment targeting high capacity broadband services. Our products include Corrigent's CM-100 metro optical transport solution, based on RPR and MPLS technologies, delivering packet transmission services in the metro area. For more information, visit Orckit website at: http://www.Orckit.com
Source: Orckit Communications Ltd.
Dubi
Standard and Poors changed their fair value on Orckit from 27.80 last week to 30.70 this week. Anybody have any info on why this is?
Zaphod
Corrigent's CTO to Present in Japan at the Fiber Optic Expo
Tuesday January 17, 8:00 am ET
Addresses Intelligent Transport Solutions for Multi-Service Networks
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 17, 2006--Corrigent Systems, a leading provider of Packet ADM (Add Drop Multiplexer) for next-generation transport networks, announced today that Leon Bruckman, Chief Technology Officer for the company, will speak to attendees of the 6th Fiber Optics Expo (FOE), Asia's largest exhibition specializing in fiber optic communications and Japan's largest Technical Conference devoted to optical communications. The FOE in Japan is expected to have more than 13,000 attendees from the optical communications industry.
Mr. Bruckman will speak on the panel, "Metro Optical Networks Supporting Multi-service Solutions" on January 19th from 14:30 to 17:10. The speech, "How to Migrate Transport Networks from SDH/SONET to Ethernet Services," will discuss developments in intelligent transport technologies addressing the need to build networks that support both current revenue-generating TDM services as well as cost-effective delivery of emerging high bandwidth packet-based services. The session will discuss how a combination of SDH, Ethernet, RPR, MPLS and PWE3 in optical network elements will define next generation networks. Mr. Bruckman is an editor of the IEEE 802.17 Resilient Packet Ring standard, and leads Corrigent's activities in standard committees such as IETF's PWE3 working group and ATIS's T11.
Japan is leading the world in bandwidth demand over optical networks. The Japanese government has set a goal of connecting 30 million users at 10Mbps and 10 million users at 100Mbps by the end of 2006, and Japan is the world's leader in terms of wireless 3G penetration with 43 million customers. Three new 3G license holders are set to enter this very vibrant and competitive market in the next year.
These and other factors contribute to significant increase in packet traffic on Japan's telecommunications infrastructure. Industry analysts say that Japan represents a significant telecom opportunity because of a mix of centralized population, innovative services, significant disposable income and a large number of Greenfield opportunities. All these developments require metro packet transport and Corrigent's Packet ADM is well positioned to support these applications.
"We are honored that Mr. Bruckman will address the prestigious FOE. Corrigent and our reseller partners in Japan are leading the way with intelligent optical transport solutions for the APAC region with a focus on emerging metro networks," said Akio Ogiso, President of Corrigent Systems KK and Vice President of APAC for Corrigent Systems Inc. "The ongoing growth of broadband, video and TV services over 3G cellular networks call for new generation of optical communications equipment. Corrigent is pleased to be able to share its expertise with the attendees at the FOE Technical Conference," he added.
About Corrigent
Corrigent Systems is a market leader in next generation metro transport systems. Designed to enable profitable delivery of voice, video and data for Triple Play, Carrier Ethernet and Multi-service offerings, Corrigent's focus is metro transport technology that maximizes revenue and profit for service providers. Used by carriers worldwide, the CM-100 line of Packet ADMs integrates the traffic management and control of RPR and MPLS and eliminates the need for multiple transport elements. The Packet ADM allows carriers to evolve their SONET/SDH networks with a standards based and interoperable product line that is optimized for today's service requirements. Orckit Communications (NASDAQ:ORCT - News) is the parent company of Corrigent Systems. For more information: http://www.corrigent.com
http://biz.yahoo.com/bw/060117/20060117005174.html?.v=1
Dubi
Orckit subsidiary Corrigent opens office in India
Suhas Patil, who formerly worked with Israeli companies Ceragon Networks and ECI, will head the office.
Gitit Pincas 5 Jan 06 16:43
Orckit Communications (Nasdaq: ORCT ; TASE: ORCT) subsidiary Corrigent Systems has put an emphasis in recent months on getting close to potential customers, chiefly in the Far East. Besides its offices in Tel Aviv, Tokyo, and California, the company, which provides packet ADMs (add drop multiplexer) for next-generation transport networks, has recently opened offices in Seoul. Corrigent points out that Korea's 49 million people enjoy one of the world's most advanced telecommunications networks, presenting huge opportunities for its CM-100 system.
Yesterday, Corrigent announced that it had opened an office in Mumbai, India to address the rapid telecommunications infrastructure developments that are underway in support of the country's economic expansion. Suhas Patil will head the office in India. Patil was previously managing director of Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT) Networks (India) and deputy general manager of the telecom projects division of Larsen & Toubro Limited, where he was responsible for project business development for ECI Telecom (Nasdaq: ECIL) in India.
According to Corrigent, the telecommunications market in India is experiencing unprecedented growth. India's Department of Telecommunications has set a target of doubling telephone penetration to 250 million lines by 2007, and analysts predict that spending on telecom equipment and services will grow at a CAGR of 23% from 2004 to 2009, to surpass $30 billion in 2009. In 2005, the number of wireless subscribers in India, 70 million, surpassed wireline customers, and over 3.7 million new subscribers are signing up every month.
"Having local presence for sales, business development, service and support is important for our prospects and partners in India. We are confident that this office will prove its ability to support the buildout of state-of-the-art networks in India," said Akio Ogiso, VP of APAC for Corrigent Systems.
Published by Globes [online], Israel business news - www.globes.co.il - on January 5, 2006
Dubi
Corrigent Opens Office in India
Wednesday January 4, 8:00 am ET
Appoints Telecom Veteran to Head its Indian Office
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 4, 2006--Corrigent Systems, a leading provider of Packet ADM (Add Drop Multiplexer) for next-generation transport networks today announced that it has opened an office in Mumbai, India to address the rapid telecommunications infrastructure developments that are underway in support of the country's economic expansion. Corrigent appointed Mr. Suhas Patil to head its office in India.
Mr. Patil has more than 25 years of experience in Sales and Marketing of Professional Electronic Equipments, and brings to Corrigent industry experience in the areas of access and metro networking. Prior to joining Corrigent he served as Managing Director of Ceragon Networks (India) Private Limited, and as Deputy General Manager, Telecom projects division of Larsen & Toubro Limited, where he was responsible for project business development for ECI Telecom in India.
The telecommunications market in India is experiencing unprecedented growth. India's Department of Telecommunications has set a target of doubling telephone penetration to 250 million lines by 2007, and analysts predict that spending on telecom equipment and services will grow at a CAGR of 23% from 2004 to 2009, to surpass $30B in 2009. In 2005 wireless subscribers in India of 70M surpassed wireline customers, and over 3.7M new subscribers are signing up every month.
Mixing wireless and fixed line transport services on one converged infrastructure is an important requirement for new telecom infrastructure in India. Broadband, internet access, business Ethernet, IPTV, VOIP and Cellular services are all critical components of service provider offerings in India. The CM-100 Packet ADM provides significant advantages when used in these multi-service environments, and allows a service provider to build a converged data-optimized transport infrastructure. After a period of working remotely and evaluating prospective opportunities, Corrigent has opened its first office in the subcontinent.
"Having local presence for sales, business development, service and support is important for our prospects and partners in India. We are confident that this office will prove its ability to support the buildout of state-of-the-art networks in India," said Akio Ogiso, VP of APAC for Corrigent Systems.
"I'm excited to be able to bring Corrigent's products to the Indian market. Corrigent's CM-100 Packet ADM matches well the urgent need of telecom infrastructure in India to cost-effectively deliver data services while supporting existing TDM services, and I'm looking forward to head this effort to build advanced transport networks for India service providers," said Suhas Patil, Corrigent's India Country Manager.
About Corrigent
Corrigent Systems is a market leader in next generation metro transport systems. Designed to enable profitable delivery of voice, video and data for Triple Play, Carrier Ethernet and Multi-service offerings, Corrigent's focus is metro transport technology that maximizes revenue and profit for service providers. Used by carriers worldwide, the CM-100 line of Packet ADMs integrates the traffic management and control of RPR and MPLS and eliminates the need for multiple transport elements. The Packet ADM allows carrier to evolve their SONET/SDH networks with a standards based and interoperable product line that is optimized for today's service requirements. Orckit Communications (Nasdaq:ORCT - News) is the parent company of Corrigent Systems. For more information: http://www.corrigent.com.
http://biz.yahoo.com/bw/060104/20060104005305.html?.v=1
Dubi
he does make sense on a lot of his choices. he called petro right on target.
it will go much higher soon.
I recieve his various newsletters, so i can read at
my leisure.
Dubi
do you get fox tv in your area? tobin is on every saturday morning.
Right on, Mick.That was him.
Luckily not J.Cramer.Jim makes short term huge
waves, but no substance, and not for long.
Regards,
Dubi
if i'm remembering right. this is or was a tobin smith pick on his sheet for good appreciation for companies in communications.
>>Together with good news from this important exhibition, some bad news is also liable to emerge from this short trading week -- profit warnings for the fourth quarter. Last week, this threat was removed from Radware (Nasdaq: RDWR; TASE: RDWR) and Orckit Communications (Nasdaq: ORCT; TASE: ORCT), which released publication dates for their reports. <<
http://www.globes.co.il/serveen//globes/docView.asp?did=1000046255&fid=1176
Dubi
Last but not least is Orckit Communications, which gained the most among the 40 largest Israeli companies traded on Wall Street and is expected to continue to perform well.
http://www.haaretz.com/hasen/spages/665692.html
Dubi
i did the click. wow. as some say " you surely do it well for all of us."
TASE ends first trading day of 2006 with positive bias
01.1.06 | 18:40 By Omer Sharvit
>>Orckit Communications (Nasdaq: ORCT) leaped 6.9% after starting on a wide positive arbitrage gap. Over the last 12 months Orckit stock gained about 190%.<<
http://www.haaretz.com/hasen/spages/664880.html
Dubi
Orckit Communications Ltd. (Nasdaq: ORCT) Fourth Quarter 2005 Conference Call
Friday December 30, 8:00 am ET
TEL AVIV, Israel, Dec. 30 /PRNewswire-FirstCall/ -- Orckit will release fourth quarter 2005 results on the morning of Tuesday, February 21, 2006. Following the release, Mr. Izhak Tamir, President, and Mr. Aviv Boim, Chief Financial Officer would like to invite you to participate in a conference call scheduled for Tuesday, February 21, 2006, at the times indicated below.
To participate, please call the following teleconferencing numbers. Please begin placing your calls 5 minutes before the hour:
Domestic: 1-800-370-0898
International: 1-973-409-9260
At:
11:00 a.m. Eastern Standard Time
8:00 a.m. Pacific Standard Time
6:00 p.m. (Israel)
For those unable to participate, there will be a replay available from
February 21, 2006 at 1:00 p.m., EST, through February 28, 2006 at 11:59 p.m.,
EST.
Please call:
Domestic: 1-877-519-4471
International: 1-973-341-3080
ID Code for Replay: 6880596
This call will be available as a Webcast on http://www.orckit.com and
http://www.kcsa.com, and will be archived for 30 days.
About Orckit Communications
Orckit Communications Ltd. is a provider of advanced telecom equipment targeting high capacity broadband services. The Company's products include Corrigent's CM-100 metro optical transport solution, based on RPR and MPLS technologies, delivering packet transmission services in the metro area. For more information, visit Orckit website at: http://www.Orckit.com
http://biz.yahoo.com/prnews/051230/nyf021.html?.v=35
Dubi
Delek Group, Israel Corp, Orckit on list of best stocks this year
29.12.05 | 18:43 By Shlomy Golovinski
The best performing stocks on the TA-25 index were Delek Group, which gained 97%, and The Israel Corporation, which advanced 87%. Osem was one of the dogs, losing 18%, and Lipman dropped 13% after delivering a weak performance.
On the TA-100 index, the best performing stocks in 2005 were Orckit, Alrov and Kardan.
Orckit rose 181% during 2005, Alrov - controlled by Alfred Akirov - gained 163% and Kardan advanced 124%.
The worst performers were Delta Galil, which lost 36%, and Ceragon, which dropped 35%.
Among real estate stocks, the best marks went to GTC of the Kardan group, which returned 112% this year, and Moti Zisser's Elbit Medical, which gained 98%.
Among tech stocks the winner was LIMS, which gained 213%, and Orckit, with a gain of 181%. The laggers included Lanoptics, which lost 63%, and Mind CTI, which retreated by 52%.
http://www.haaretz.com/hasen/spages/664050.html
Dubi
The only time TKCRF was volatile was a couple months ago
when there was heavy accumulating buying by an outsider
took place, it lasted a short while, and since than, very
flat, and extremely quiet.
It indeed may be dead money for a long period of time,
although i would like to hope not.
Having said that, i am prepared to bet on a short wait.
A word of precaution: Not only the wait can be very long,
but also nobody promises there will be any premium to it.
Regards,
Dubi
I have an ORCT position for my mom in her IRA account. I trade 90% of the time on the short side and typically don't like investing money in something for the long haul. TKCRF just doesn't have enough volatility for my liking and although it probably will be a good investment from these levels, it could be dead money for many months or years. I may pick up some for my mom, but for me it just isn't my type of play.
Eagle,
Take your time, look deeper into TKCRF.
If you have confidence in ORCT, it would
make sense, perhaps an interesting investing
opportunity.
Regards,
Dubi
In just the few minutes i took to look at tkcrf, your post makes sense.
Hi Eagle,
Playing or regarding TKCRF as a penny stock makes
absolutely no sense, with this statement i would agree
100%.
TKCRF is controlled by ORCT, due to 75% or so ownership.
At the moment TKCRF is inactive, namely there are no
business activities in it.
My interest in this inactive company is in my anticipation
that one of the scenarios occur;
1/ORCT will 'pour' some of its business into TKCRF,
2/ORCT will sell it as an empty shell.
Due to the fact TKCRFs current price is equal to its cash
value, in the eventuality of one of the scenarios occuring
my guess is that TKCRF shareholders will enjoy a premium.
When, if at all this will occur is anybodys guess.
Regards,
Dubi
hey midas! What is the relationship between TKCRF and ORCT? Does ORCT have any ownership stake in it? TKCRF's chart looks fairly boring to me for a penny stock.
Also, my email address is:
EAGLE2975@AOL.COM
not eagler2975@aol.com
so just shoot me an email if you need anything. Thanks.
Thanks Eagle,
An addendum to iBox, a link to daugther company,
Tikcro Technologies Ltd. TKCRF
Happy Holidays & Shalom from Israel,
Dubi
Good job, midas. Glad to have you along! Again, please feel free to let me know anytime you need something. I only check in every now and again. I just thought a stock of ORCT's stature needs to have a discussion board on IHUB for sure.
Thanks for the help and have a Merry Christmas!
Thanks Eagle,
I will update the iBOx asap.
Regards,
Dubi
midastouch17, you got it! If you know how i change you from asst. board monitor to the main monitor, i will do so. I just wanted to get the board going. Otherwise, just send me a PM or email at eagler2975@aol.com for anything else that you might need. Good luck!
Has anyone heard, or have a guess as to what signing up Wiltel will do for 2006 numbers?
Orckit reveals second major customer: U.S. firm WilTel
20.12.05 | 16:46 By Shirley Yom Tov
Orckit Communications' (Nasdaq: ORCT) announcement of its deal with wholesale carrier WilTel Communications has sent the Israeli company's share price climbing 7% in Tel Aviv.
Orckit subsidiary Corrigent is supplying WilTel - a nationwide U.S. provider of wide-area network (WAN) technology - with its CM-100 Packet ADM system. The CM-100 will serve to build new metropolitan networks to transmit voice and data.
In its third-quarter financial statement, Orckit had hinted that it had a new customer. Until now it has been heavily dependent, to put it mildly, on Japan's KDDI. Now it can boast a second significant customer.
The system has already been deployed at select metro areas throughout the U.S., Orckit said.
Corrigent's CM-100 Packet ADM forms the basis for converging both TDM and data services onto one transport network element. This is a fundamental requirement of next generation metropolitan area networks and a way to ensure the bandwidth and service quality required for new packet based applications.
Rather than building overlay networks with separate devices for voice and data services, Corrigent's CM-100 handles both services simultaneously thereby creating a more efficient and scalable network, Orckit explains.
WilTel spent more than a year in analysis and testing of next-generation transport equipment before choosing Corrigent's technology.
"WilTel was focused on deploying a very low-cost, highly effective metro infrastructure to support Ethernet and IP services as well as low-speed TDM services to the enterprise market place. The CM-100 is ideally suited to support these requirements," commented WilTel chief technology officer Scott Beaudoin in the company's statement.
http://www.haaretz.com/hasen/spages/660301.html
Dubi
Heavy Reading Highlights Corrigent's Leadership in Packet-Based Metro Transport Networks
Monday December 19, 8:00 am ET
CM-100 is Recognized as First Packet MSPP to Address SONET-to-Packet Migration
SAN JOSE, Calif.--(BUSINESS WIRE)--Dec. 19, 2005--Corrigent Systems, a leading provider of Packet ADM (Add Drop Multiplexer) for next-generation transport networks announced today that a most recent Heavy Reading report credited Corrigent with leadership in the rapidly growing market for transport equipment that supports migration from circuits to packets, and provided evidence that the market is endorsing Corrigent's migration model.
Heavy Reading's "SONET/SDH-to-Ethernet Migration Strategies" report from December 2005 provides comprehensive survey of leading telecommunications carriers and details their plans for migration to a packet-optimized transport network. Tier 1 telecom carriers in the US and Europe are profiled and their network plans are discussed.
While almost one third of the carriers responding to the survey said they will continue to expand their networks with existing Multi-Service Provisioning Platforms (MSPPs), another third of the respondents now say they plan to evolve their SONET/SDH network with newer packet-optimized MSPPs. About 80% of all respondents agreed that emulation of TDM circuits is important or essential to enable transition to packet transport. The report concludes that Packet MSPPs, that provide packet-based multiservice transport through emulation of TDM circuits and multi-protocol interworking, will gain steam as a key metro element in carriers' network evolution.
The report credits Corrigent and its CM-100 product line as the industry's first Packet MSPP based on RPR, MPLS and SONET/SDH, offering a clear path for carriers' migration to true Ethernet transport. The report concludes that the market is now endorsing Corrigent's network migration model.
Corrigent's CM-100 is a 10Gbps packet transport solution, allowing carriers to build a packet-optimized and converged metro transport network that can scale to accommodate the growth in packet traffic, but at the same time support all existing TDM traffic and carriers' present mode of operation in their evolving transport networks.
About Corrigent
Corrigent Systems is a market leader in next generation metro transport systems. Designed to enable profitable delivery of voice, video and data for Triple Play, Carrier Ethernet and Multi-service offerings, Corrigent's focus is metro transport technology that maximizes revenue and profit for service providers. Used by carriers worldwide, the CM-100 line of Packet ADMs integrates the traffic management and control of RPR and MPLS and eliminates the need for multiple transport elements. The Packet ADM allows carriers to evolve their SONET/SDH networks with a standards based and interoperable product line that is optimized for today's service requirements. Orckit Communications (NASDAQ:ORCT - News) is the parent company of Corrigent Systems. For more information: http://www.corrigent.com
http://biz.yahoo.com/bw/051219/20051219005319.html?.v=1
Dubi
Corrigent Increases Market Share in Rapidly Growing 10Gbps Market
Monday December 12, 8:00 am ET
Company #2 in Worldwide Sales of 10Gbps Multiservice Provisioning Platform
SAN JOSE, Calif.--(BUSINESS WIRE)--Dec. 12, 2005--Corrigent Systems, a leading provider of Packet ADM (Add Drop Multiplexer) for next-generation transport networks announced today that according to recent market research report it increased its market share in the category of 10Gbps multiservice provisioning platforms (MSPP). Sales of the CM-100 Packet ADM increased from 16% of the worldwide 10Gbps MSPP market in Q2 2005 to 20% of the market in Q3 2005. The market for 10Gbps devices is the fastest growing segment of the MSPP market which almost tripled in the nine month period ended September 30, 2005 compared to the sequential nine month period in 2004. Corrigent was ranked #2 overall in this category for the first nine month period of 2005. The latest figures on market share and Corrigent's leadership were compiled by the Dell'Oro Group of Redwood City, CA.
Sales growth of Corrigent's Packet ADM is being driven by the rapidly increasing packet traffic on carrier networks. Internet access, corporate data communications, IPTV, VOD, VOIP and Ethernet services among others, necessitate more bandwidth and better traffic control. These new applications require that service providers build new networks capable of supporting the bandwidth, availability and QoS that the services require. The CM-100 is a unique packet transport device that supports all combinations of legacy TDM and emerging packet traffic on the same network element. The ability to converge both traffic types over a single platform allows service providers to lower operational costs and increase revenues.
About Corrigent
Corrigent Systems is a market leader in next generation metro transport systems. Designed to enable profitable delivery of voice, video and data for Triple Play, Carrier Ethernet and Multi-service offerings, Corrigent's focus is metro transport technology that maximizes revenue and profit for service providers. Used by carriers worldwide, the CM-100 line of Packet ADMs integrates the traffic management and control of RPR and MPLS and eliminates the need for multiple transport elements. The Packet ADM allows carriers to evolve their SONET/SDH networks with a standards based and interoperable product line that is optimized for today's service requirements. Orckit Communications (NASDAQ:ORCT - News) is the parent company of Corrigent Systems. For more information: http://www.corrigent.com
http://biz.yahoo.com/bw/051212/20051212005308.html?.v=1
Dubi
Orckit Shares Advance on Analyst Report
Monday December 5, 1:41 pm ET
Orckit Communications Shares Climb After Analyst Notes Coming Business Opportunities in Japan
NEW YORK (AP) -- Shares of Orckit Communications Ltd. jumped Monday after an analyst noted coming business opportunities in Japan for the communications networking equipment maker.
The Tel-Aviv, Israel-based company's shares rose $1.75, or 8 percent, to $23.90 in midday trading on the Nasdaq. In the past 52 weeks, the stock has fluctuated between a low of $7.18 and a high of $29.55.
RBC Capital Markets analyst Daniel Meron, who rates the company at "Outperform" with a $34 target price, wrote in a client note that recent changes in the Japanese market may mean more business opportunities for the company in 2006.
Specifically, planned network and service convergence by Nippon Telegraph and Telephone Corp. "plays to the strength of Orckit's offering," he wrote.
Ensuing competition, market dynamics and regulation may "further expedite carrier shift to convergence" in Japan, leading to more opportunities for Orckit and other companies, the analyst added
Meron said some of the opportunities may materialize next year, but added it is not clear "when deployments will commence and on what scale."
Orckit's products, he wrote, were evaluated by several Japanese carriers for many months. The analyst cautioned clients that "sales cycles may stretch and test investor patience."
Besides opportunities in Japan, Meron added he also sees potential in Europe and Korea for the company as carrier competition grows.
http://biz.yahoo.com/ap/051205/orckit_mover.html?.v=1
Dubi
From their 10/31 Q3 earnings announcement:
http://biz.yahoo.com/prnews/051031/nym145.html?.v=27
-- Initial commercial shipments to a U.S. telecom carrier commenced. It is expected that product deliveries to this customer will increase in 2006.
-- Interest from telecom carriers in Corrigent's CM-100 product line continued. This interest came primarily from emerging carriers in Asia, seeking to provide both Ethernet and TDM services over a single unified network. Triple Play, being the most demanding application, is one of the fundamental drivers for these metro network expansion plans.
The revenue from this new U.S. customer wasn't included in their Q3 numbers, and no additional new customers were included in the guidance of $1.50 for next year's EPS. Given that they just opened an office in Korea, there's likely to be a new Asian customer soon.
Now that ORCT has a second broker covering them, as well as the Oberweiss newsletter this week, all with a buy recommendation, there are lots of buyers interested in getting in on ORCT on any pullbacks. The breakout yesterday to a new high close post-earnings blowout likely clears the way for a run to a new high. Even at $30, the PE will only be 20, with 35% EPS growth guidance for next year and upside if they add any new customers. As more brokers and institutions discover ORCT, it should continue higher.
Unterberg starts Orckit with Buy rating
02.12.05 | 12:39 By Sharon Shpurer
Orckit Communications (Nasdaq: ORCT) won a Buy rating in CE Unterberg Towbin's first analysis of the company.
The investment bank set Orckit, which makes advanced digital
modems to enable broadband data access over existing copper phone lines, a 12-month price target of $30. That is 44% above its closing level on Nasdaq last night.
Analyst Rich Church feels that its North American subsidiary Corrigent (which is responsible for Orckit's entire operation) has become the leading provider for the next generation of systems that increase the "weight" of data being transmitted over existing communications networks.
He believes the company is well positioned to earn from the trend of adopting optical networks, to supply clients with not only telephony and Internet but television service as well (the so-called "triple-play"). Phone companies are adopting the technology to compete with the cable providers, which already provide triple-play in many countries.
Orckit has one main client, Japan's second biggest communications provider - KDDI. That relationship provides transparency regarding the Israeli company's revenues and profits, Church says.
As for future growth, that could be driven by new customers, he says.
Church postulates that Orckit has begun pilots with several prospective new customers, and that some of the trial runs have reached advanced stages. He projects the company should see contracts in the short or medium run in Japan, South Korea, India, and the U.S.
Currently Orckit is trading at only 14 times estimated 2006 earnings of $1.49 per share, and 12 times estimated 2007 earnings per share of $1.76.
Considering Orckit's peer group and its significant growth potential, he thinks a more appropriate multiple would be 20 times estimated 2006 earnings. His price target is therefore $30, which is $9 above Orckit's present share price.
He predicts $99.8 million sales in 2005, which would be nine times the figure for 2004, and 26% growth in 2006 to $126 million sales.
Risk factors include its dependence on a single major client, KDDI, and intensifying competition from giants such as Nortel (NYSE:NT) and Cisco Systems (Nasdaq:CSCO). There is also the danger of companies deciding to adopt different network architecture entirely, obviating the need for Orckit's wares.
http://www.haaretz.com/hasen/spages/653048.html
Dubi
Orckit Communications to Present at the Investors Committee '05 Conference in Tel Aviv
Thursday December 1, 8:30 am ET
TEL AVIV, Israel, Dec. 1 /PRNewswire-FirstCall/ -- Orckit Communications Ltd. (Nasdaq: ORCT - News) today announced that the Company's management is scheduled to present at the Tamir Fishman and The Marker - Investors Committee 2005 Conference at the David Intercontinental Hotel, Tel Aviv on December 11, 2005 at 16:30 Israel Time.
About Orckit Communications
Orckit Communications Ltd. is a leading provider of advanced telecom equipment targeting high capacity broadband services. Our products include Corrigent's CM-100 metro optical transport solution, based on RPR and MPLS technologies, delivering packet transmission services in the metro area. For more information, visit Orckit website at: http://www.Orckit.com
http://biz.yahoo.com/prnews/051201/nyth094.html?.v=28
Dubi
Corrigent Systems Announces New Diagnostic and Service Management Features on Its CM-100 Packet ADM
Monday November 21, 8:00 am ET
Enhancements Allows Carriers to Manage and Monitor Service Continuity on Networks Carrying Ethernet and Triple-Play Services
SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 21, 2005--Corrigent Systems, a leading provider of Packet ADM (Add Drop Multiplexer) for next-generation transport networks, today announced the availability of new features in the CM-100 Product line designed to enable network operators to manage their networks in more efficient and flexible ways. These new features are now operating in CM-100 networks running live traffic by Corrigent's customers worldwide. They offer operators one of the most comprehensive suites of management, testing and diagnostics tools available in packet transport solutions today.
Carriers are in the process of migrating their networks from traditional TDM to packet transport infrastructures. The rapid increase in packet traffic and services requires efficient and reliable maintenance and diagnostics tools, not only encompassing the capabilities conventionally available in SONET/SDH equipment, but also those needed to provide full testing, monitoring and diagnostics of packet services and functions. This new set of functions, in combination with existing Operations, Administration, Maintenance (OAM), and performance monitoring tools, make Corrigent's CM-100 unique in its class of carrier-class packet-optimized optical transport solutions.
The CM-100 Packet ADM offers testing, maintenance and diagnostic capabilities designed to assist network operators with provisioning, maintaining and troubleshooting their networks. These new features give operators the tools required to test, identify and isolate problems before and as they occur, as well as correct them rapidly when they do.
The maintenance and diagnostic capabilities now available with Corrigent's CM-100 and include the following:
SONET/SDH line and path loopbacks on all SONET/SDH user interfaces, including low-order payload (VT) path loopback on Channelized OC-3/STM-1 modules
DS1/E1 and DS3 port and path loopbacks and test ports
Internal Pseudo Random Bit Stream (PRBS) test pattern generator and monitoring function on each user interface module per STS-n/VC-n path on all SONET/SDH user interface modules, and per VT on the Channelized SONET/SDH and DS1/E1 and DS3 user interface modules
Ethernet test packet generation and monitoring
Ethernet port-mirroring for non-intrusive traffic analysis in both ingress and egress directions
Inter-module diagnostics and monitoring
VPLS redundancy and Remote Fault Indication (RFI) mechanism on Ethernet ports providing higher levels of service-level protection
RPR OAM
Corrigent's CM-100 Packet ADM is a market leading intelligent optical transport platform. Based on SONET/SDH, MPLS, RPR and Ethernet, it enables any combination of TDM and packet traffic on one converged 10Gbps packet transport device. The fault diagnostics, testing, alarms, management and reports give network operators the unprecedented capability to monitor and guarantee any packet or circuit service on their network. This new suite of management and diagnostic tools makes the CM-100 unique in its market and raises the bar for intelligent packet transport devices.
About Corrigent
Corrigent Systems is a market leader in next generation metro transport systems. The CM-100 product line is designed to enable profitable delivery of voice, video and data for Triple Play, Carrier Ethernet and Multi-service offerings. Used by carriers worldwide, the CM-100 line of Packet ADMs integrates the traffic management and control of RPR and MPLS and eliminates the need for multiple transport elements. The Packet ADM allows carrier to evolve their SONET/SDH networks with a standards based and interoperable product line optimized for today's service requirements. Orckit Communications (NASDAQ:ORCT - News) is the parent company of Corrigent Systems. For more information: http://www.corrigent.com.
Corrigent Systems and CM-100 are registered trademarks of Corrigent Systems, Inc. All other Brands and products referenced herein are the trademarks or registered trademarks of their respective holders. Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties. Readers are cautioned that forward-looking statements may differ significantly from actual future events or results. Corrigent assumes no obligation to update the information in this release.
http://biz.yahoo.com/bw/051121/20051121005253.html?.v=1
Dubi
Corrigent Opens Office in Korea
Monday November 14, 8:00 am ET
Targets Advanced Telecommunications Market Requirements with the CM100 Packet ADM
SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 14, 2005--Corrigent Systems, a leading provider of Packet ADM (Add Drop Multiplexer) for next-generation transport networks announced today that it opened an office in Korea. With a population of 49 million and one of the worlds most advanced telecommunications infrastructures, Korea represents a significant opportunity for Corrigent's CM-100 product line.
According to the latest statistics from the Organization for Economic Co-operation and Development (OECD, June 2005), Korea ranks first worldwide in broadband penetration among industrialized countries. For every 100 inhabitants there are 25.5 broadband subscribers. This compares with 19.2 in Canada, 16.4 in Japan and 14.5 in the US. In addition, Korea has 1,239 phone subscribers, fixed and mobile, for every 1,000 people in the country.
Some carriers create separate overlay networks for wireline, cellular and broadband services. This creates a complex and expensive network to build and manage. Corrigent's CM-100 Packet ADM enables service providers to converge their voice and data networks onto a single transport network. This provides opportunities for savings on equipment and operation. In addition, the CM-100 gives carriers the ability to reach business users with Ethernet service on the same transport equipment they would use for all other service offerings.
"Korea is one of the most advanced telecommunications markets in the world, and we believe that the 10Gbps CM-100 is the ideal transport equipment in this rapidly growing market," said Akio Ogiso, VP of Asia Pacific for Corrigent Systems. "The opening of our new office demonstrates our commitment to the Korean market, and our expectations to work closely with the leading carriers in this country."
Dr. Francis Tai Noh is Corrigent's Country Manager in Korea. Prior to joining Corrigent, Dr. Tai Noh was with Lucent as Managing Director for Network Planning and Systems Engineering Center in Korea, and with Marconi as President of Marconi Korea. "Korea's extraordinary broadband penetration drives carriers in this market to look for packet-optimized transport solutions. Our new office in Korea allows us to introduce Corrigent's Packet ADM product line to these carriers and benefit from the healthy growth the Korean market is experiencing," said Dr. Noh. Corrigent's offices are located in 3-14 Yangjae-Dong, Seocho-Gu, Seoul, Korea.
About Corrigent
Corrigent Systems is a market leader in next generation metro transport systems. Designed to enable profitable delivery of voice, video and data for Triple Play, Carrier Ethernet and Multi-service offerings, Corrigent's focus is metro transport technology that maximizes revenue and profit for service providers. Used by carriers worldwide, the CM-100 line of Packet ADMs integrates the traffic management and control of RPR and MPLS and eliminates the need for multiple transport elements. The Packet ADM allows carrier to evolve their SONET/SDH networks with a standards based and interoperable product line that is optimized for today's service requirements. Orckit Communications (NASDAQ:ORCT - News) is the parent company of Corrigent Systems. For more information: http://www.corrigent.com.
Corrigent Systems and CM-100 are registered trademarks of Corrigent Systems, Inc. All other Brands and products referenced herein are the trademarks or registered trademarks of their respective holders. Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties. Readers are cautioned that forward-looking statements may differ significantly from actual future events or results. Corrigent assumes no obligation to update the information in this release.
Contact:
Corrigent Systems
Mannix O'Connor, 408-392-9292
mannix@corrigent.com
--------------------------------------------------------------------------------
Source: Corrigent Systems
http://biz.yahoo.com/bw/051114/20051114005432.html?.v=1
Dubi
STMicroelectronics closes Israeli development center
The French company is laying off 41 employees. The center was founded when STMicroelectronics acquired Tioga in 2003.
Ofer Levi and Gali Weinreb 2 Nov 05 19:09
STMicroelectronics (NYSE: STM) is about to close down its development center in Israel, and lay off its 41 employees. The French company is the sixth largest semiconductor in the world. Some of the employees will be offered work in the company’s overseas offices.
STMicroelectronics founded its Israeli development center when it acquired the technology of start-up Tikcro Technologies (formerly Tioga Technologies) in 2003 for $30 million. Orckit Communications (Nasdaq: ORCT; TASE: ORCT) founded Tioga in 2000. The development center has cost STMicroelectronics heavy losses since the acquisition.
Published by Globes [online] - www.globes.co.il - on November 2, 2005
Dubi
Hang on there, Orckit
If Orckit’s Corrigent Systems can maintain its technological edge, Verizon could be the big ticket. Plus, Why investors were unenthused by Radware’s good financials, and why market leader F5 Networks should acquire it.
Shlomi Cohen 1 Nov 05 11:46
When I wrote these lines (before Orckit Communications Ltd. (Nasdaq:ORCT; TASE:ORCT) published its third quarter financial report), everything was already known in the market, including investors’ reactions both in Israel and in New York. Maybe the reason for the roller-coaster ride in the company’s share during October will finally become apparent. Without trying to guess what it published, I’ll only say that in general, this is a market in which Japan’s KDDI Corporation (TSE:9433) is only the tip of the iceberg.
If Orckit’s Corrigent Systems can hold onto its technological edge., which its people rate as “poor” for at least two years, compared with competitors as far the high-end metro market is concerned, then the giant US market is waiting for it in a year or two.
Orckit’s longstanding customer, US telephony giant Verizon Communications (NYSE:VZ), to whom Orckit sold hundreds of millions of dollars worth of last-generation ADSL equipment, is now building the most advanced communications network possible, a fiber-to-the-home (FTTH) network to replace its copper wire network. Simply because the copper wires were buried for decades and no one dared invest in their replacement, DSL was invented.
Verizon CEO Ivan Seidenberg was interviewed on Friday by CNBC star reporter Maria Bartiromo. She attacked him, claiming that Verizon’s share was a bitter pill for the company’s investors, because it was the only share in the industry still in a slump after three years. Seidenberg replied that Verizon had taken a courageous decision to invest $1 billion over the coming years in deploying an optical network that will provide its customers with the most advanced services, and until then, he wasn’t interested in the share. He said that those with patience would wait, because Verizon would then make a very large profit, since it would be the advanced broadband services market leader.
Corrigent is very active in the US, and it may already report a multimillion-dollar order for equipment from a small and fairly unknown customer, but companies like Verizon are the winning lottery ticket for the US market, and Verizon will begin ordering equipment like Corrigent's a few months before launching its new network.
Published by Globes [online], Israel business news - www.globes.co.il - on November 1, 2005
The above recommendations were made by a person/s working in the investment industry who may hold positions in securities mentioned in the column. This column should not be taken as advice to buy, sell or continue to hold any securities, and anyone acting on the advice of this column does so at his or her own risk.
http://www.globes.co.il/serveen//globes/docView.asp?did=1000024226&fid=1176
Dubi
Actually, small wonder,
Orckit Communications Reports 2005 Third Quarter Results
Monday October 31, 8:30 am ET
Begins Commercial Deliveries to New U.S. Customer;
Raises Full Year 2005 Revenue and EPS Guidance to $100 Million and $1.25 Per Share; and
Provides Preliminary 2006 Guidance
TEL AVIV, Israel, Oct. 31 /PRNewswire-FirstCall/ -- Orckit Communications Ltd. (Nasdaq: ORCT - News) today reported results for the three and nine month periods ended September 30, 2005.
Revenues in the third quarter of 2005 were $25.4 million compared to $2.0 million in the quarter ended September 30, 2004 and $21.8 million in the previous quarter ended June 30, 2005.
Net income for the quarter ended September 30, 2005 was $7.6 million, or $0.45 per diluted share, compared to a net loss of $5.9 million, or $(0.45) per share, for the quarter ended September 30, 2004 and net income of $3.9 million, or $0.21 per diluted share, for the previous quarter ended June 30, 2005. The weighted average number of shares used in these calculations was 17.0 million for the quarter ended September 30, 2005, 13.1 million for the quarter ended September 30, 2004 and 16.5 million for the quarter ended June 30, 2005.
Results for the quarter ended September 30, 2005 include a capital gain of approximately $2.4 million, or $0.14 per diluted share, from the sale to Broadcom of the Company's holdings in Siliquent Technologies, a privately-held semiconductor design company. Excluding this capital gain, net income for this quarter was $5.2 million, or $0.30 per diluted share.
Revenues for the nine months ended September 30, 2005 were $67.8 million compared to $2.7 million for the nine months ended September 30, 2004. Net income for the period was $14.6 million, or $0.84 per diluted share, compared to a net loss of $(17.2) million, or $(1.32) per share, for the nine months ended September 30, 2004. The weighted average number of shares used in these calculations was 16.5 million for the nine months ended September 30, 2005 and 13.1 million for the nine months ended September 30, 2004. The capital gain from the sale of the Company's interest in Siliquent Technologies is also included in the results for the nine months ended September 30, 2005.
Key highlights for the quarter:
-- Product deliveries to KDDI continued, supporting the ongoing expansion
of its metro networks. According to press releases from KDDI, its VOIP
Metal Plus and Triple Play Hikari Plus service offerings continue to
attract subscribers and gain traction in Japan.
-- Initial commercial shipments to a U.S. telecom carrier commenced. It is
expected that product deliveries to this customer will increase in 2006.
-- Interest from telecom carriers in Corrigent's CM-100 product line
continued. This interest came primarily from emerging carriers in Asia,
seeking to provide both Ethernet and TDM services over a single unified
network. Triple Play, being the most demanding application, is one of
the fundamental drivers for these metro network expansion plans.
-- In the third quarter, the Company retired all outstanding bank loans in
the amount of $11.0 million. As of September 30, 2005, after this bank
retirement, the Company's balance of cash and marketable securities was
$101.6 million.
Accounting matters: Early adoption of SFAS 123®
-- As of July 1, 2005 the Company adopted Statement of Financial
Accounting Standards ("SFAS") No. 123 ®. The adoption of SFAS No. 123
® is mandatory for all U.S. GAAP reporting companies beginning January
1, 2006. The main difference of SFAS No. 123 ® compared to prior
reporting rules is that companies will be required to include a
compensation cost for all share-based awards issued calculated based on
the fair value on date of grant. Under this SFAS, Orckit will not have
employee share option awards which are subject to variable accounting
treatment. It is expected that in 2005 Orckit will record insignificant
additional expenses due to the adoption of this SFAS.
Izhak Tamir, President of Orckit, commented: "Our results for the third quarter of 2005 continued to be driven by the nation-wide deployment of Corrigent's CM-100 product line by KDDI in Japan. We expect this deployment to continue in 2006. We remain committed to adding new advanced capabilities to our product offering to further support requirements from our customers as metro applications evolve."
Mr. Tamir continued: "With initial product deliveries made to a U.S. telecom carrier, we expect to remain a leading supplier in the 10Gbps metro market. The CM-100 product line addresses the need of telecom carriers to effectively support demand for heavy Ethernet packet-based services targeting enterprise subscribers, high bandwidth video services to residential subscribers and TDM services, all over a unified platform."
Mr. Tamir concluded: "We believe that the economics of converged networks are becoming more appealing to an increasing number of telecom carriers who seek to provide new high-bandwidth packet-based services. The CM-100 is the solution of choice for such convergence, as it is designed to support emerging as well as legacy services over a simplified network topology, thus reducing operational cost and increasing network efficiency."
Outlook and Guidance
Fourth quarter 2005 guidance:
For the quarter ending December 31, 2005, Orckit expects revenues of approximately $32.0 million and net income of approximately $6.9 million, or $0.41 per diluted share. This represents anticipated growth of over 25% in revenues compared to revenues for the third quarter.
Full year 2005 guidance:
For 2005, Orckit expects revenues of approximately $100.0 million and net income of approximately $21.5 million, or $1.25 per diluted share. Forecasted results for the full year include the capital gain from the sale of the Company's interest in Siliquent Technologies.
Preliminary 2006 guidance:
Orckit is providing preliminary guidance for 2006. The Company expects revenues from existing customers to increase in 2006 by approximately 25% compared to total revenues in 2005.
Diluted net income per share in 2006 is expected to increase by 20% compared to diluted net income per share in 2005. Excluding the capital gain in 2005 of $2.4 million, or $0.14 per diluted share, diluted net income per share in 2006 is expected to increase by more than 35%.
Conference Call
Orckit Communications will host a conference call on October 31, 2005, at 11 a.m. EST. The call can be accessed by dialing 1-800-370-0898 in the United States and 1-973-409-9260 internationally. A replay of the call will be available at http://www.orckit.com. A replay of the call will be also available through November 7, 2005 at 11:59 p.m., EST at 1-877-519-4471 in the United States and 1-973-341-3080 internationally. To access this replay, enter the following code: 6558137.
About Orckit Communications
Orckit Communications Ltd. is a leading provider of advanced telecom equipment targeting high capacity broadband services. Our products include Corrigent's CM-100 metro optical transport solution, based on RPR and MPLS technologies, delivering packet transmission services in the metro area. For more information on Orckit see www.orckit.com
http://biz.yahoo.com/prnews/051031/nym145.html?.v=27
TABLE-Orckit Communications reports Q3 profit
Mon Oct 31, 2005 08:59 AM ET
Oct 31 (Reuters) -
ORCKIT COMMUNICATIONS LTD. (ORCT.O: Quote, Profile, Research)
Latest Forecast* No. of Yr ago
analysts qtr EPS (diluted, $/shr) 0.45 -- -- -0.45 Net ($ million) 7.6 -- -- -5.9 Revenue ($ million) 25.4 24.0 1 2.0
*Source: Reuters Estimates
--For the latest third quarter, an analyst had expected the company to earn 23 cents a share, excluding exceptional items, according to Reuters Estimates.
--The company said latest third-quarter results include a capital gain of about $2.4 million, or 14 cents per share, from the sale of its holdings in Siliquent Technologies, a privately-held semiconductor design company.
--Excluding this capital gain, net income for this quarter was $5.2 million, or 30 cents a share, the company said.
--In the latest third quarter, there were about 17.0 million weighted average number of shares outstanding, compared with about 13.1 million in the year-ago quarter. (Reporting by Rumman Ahmed in Bangalore)
http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh13273_2005-10-31_13-59-23_wna....
Dubi
Larry,
This company is like Phoenix.Every time it proves
it is able to rise from the ashes and fly sky-high.
Hopefully its daughter TKCRF will prove similar at
some point of time.
TKCRF,
(#board-4443)
Regards,
Dubi
ORCT NM 60,883 20.0500 8:37:31.0 +$4.1500 +26.10
ORCT NM 1,400 17.5500 7:53:11.9a.m. +1.6500 +10.38
Baseless rumors sent Orckit stock crashing Thursday, says RBC
30.10.2005 | 09:06
Omri Cohen
On Thursday, a few hours after Royal Bank of Canada analyst Daniel Meron issued an upbeat report on Orckit Communications (Nasdaq:ORCT), the Israeli company's stock plunged 30% on tremendous turnover of 3.6 million shares.
Come Friday the stock corrected upward by not a little, rising 18.8% to $15.90. In after-hours trade it slipped back a hair, but in any event the developments sent Meron scurrying for his keyboard to issue an update.
In his opinion, the Thursday-night bungee was triggered by rumors that Orckit's main customer, the Japanese communications company KDDI, was considering scaling back its orders.
Meron also points at rumors circulating that an American communications services company canceled or postponed orders of its own.
But judging by KDDI's financial statement for the fiscal first half of 2005 (which ended in September), Meron says, its installation of triple-play technology is on track.
KDDI is deploying an optical network that would enable its customer phone companies to expand beyond telephony and Internet, and provide television service as well.
The Japanese firm, which is Orckit's main source of income, did report fewer subscribers than expected, Meron qualifies.
However, he quotes KDDI's management talking with Bloomberg: the officers forecast a 14% jump in infrastructure investments during the fiscal year 2006, to $4.3 billion.
For the third quarter of 2005, Meron projects, Orckit will meet Wall Street expectation and report a 10% increase in year over year revenues to $24 million. He expects its earnings per share to increase 12% to 23 cents.
As for the fourth quarter, if anything, Meron expects Orckit to beat his projections of $29 million revenues and 29 cents per share.
As for the U.S. customer, in Meron's opinion, the tests of the Israeli company's equipment are proceeding as planned and an official announcement should be forthcoming by year-end.
Meron repeated a Buy rating for Orckit stock and set his 12-month price target at $34, which is more than double its present level on Nasdaq.
http://tinyurl.com/8vjym
Dubi
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