ORCT: Charter cancelled. Liquidated. No distribution. FINRA deleted symbol:

http://otce.finra.org/DLDeletions

ORCT: On Radar(S),waiting to confirm (S)

ORCT Back alive again. Hoping for .24 any one know anything

ORCT is up by 100%

ORCT is up by 150%

important update; thanx; ORCT NASDAQ 0.42 0.7979 0.46 0.01 2.22% 1500X15600 0.4698 0.45 18,400

NASDAQ Grants Orckit's Request for Continued Listing

TEL AVIV, Israel, Mar 29, 2012 (GlobeNewswire via COMTEX) -- Orckit Communications Ltd. (Nasdaq:ORCT) (the "Company") today announced that a NASDAQ Listing Qualifications Panel (the "Panel") has granted the Company's request for continued listing and for a transfer of its listing to The NASDAQ Capital Market. Accordingly, the Company's ordinary shares will begin trading on The NASDAQ Capital Market effective with the open of business on Friday, March 30, 2012. The transfer of the Company's listing from The NASDAQ Global Market to The NASDAQ Capital Market should have no impact on trading in the Company's ordinary shares, and the Company's ordinary shares will continue to trade under the symbol ORCT. In addition, the transfer will not impact the Company's listing on the Tel Aviv Stock Exchange.
The Company's continued listing on The NASDAQ Capital Market is subject to certain conditions, including the Company's filing of a Form 6-K with the Securities and Exchange Commission by June 27, 2012 indicating that the Company satisfies the applicable $2.5 million stockholders' equity requirement for continued listing on the Capital Market, and the submission of financial projections for the Panel's review evidencing the Company's ability to sustain compliance with that requirement through the end of 2012. The Company also remains subject to a grace period through August 13, 2012, by which date the Company must evidence compliance with NASDAQ's minimum bid price requirement of $1.00 per share. In the event the Company does not regain compliance with the bid price requirement by that date, it may be eligible for an additional 180-day compliance period, provided it meets all initial listing criteria for the Capital Market, with the exception of the bid price and market value of publicly held shares requirements.

The Panel's decision follows the Company's receipt of notice from the NASDAQ Listing Qualifications Staff on December 30, 2011 indicating that the Company's securities were subject to delisting based upon the Company's non-compliance with the $10 million stockholders' equity requirement for continued listing on The NASDAQ Global Market. In response, the Company requested a hearing before the Panel, which was held in February 2012. While the Company is diligently working toward achieving compliance with all applicable listing requirements, there can be no assurance that it will be able to do so by the Panel's June 27, 2012 deadline.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, the timely receipt of the requisite approvals for the proposed arrangement with the Company's note holders, the amount of notes that will be converted into ordinary shares, the Company's ability to timely raise sufficient funds in equity financings, the Company's progress in obtaining large potential customers and large purchase orders, the ability to repay the Company's outstanding notes, history of losses, dependence on a limited number of customers, risks in product development plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, exchange rate fluctuations, fluctuation in order size, proprietary rights of the Company and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, the effect of current global economic conditions, as well as turmoil in the financial and credit markets, on the Company's business, share price and ability to raise equity, and other risk factors detailed in the Company's United States Securities and Exchange Commission filings. Such risks also include the possibility that the Company will be unable to satisfy the listing requirements of The NASDAQ Capital Market by the applicable deadlines. Actual results may materially differ.

About Orckit Communications Ltd.

Orckit facilitates telecommunication providers' delivery of high capacity broadband residential, business and mobile services over wireline or wireless networks with its Orckit-Corrigent family of products. With 20 years of field experience with Tier-1 customers located around the world and sound leadership, Orckit has a firm foothold in the ever-developing world of telecommunication. Orckit-Corrigent's product portfolio includes Packet Transport Network (PTN) switches - an MPLS and MPLS-TP dual stack based portfolio enabling advanced packet as well as legacy services over packet networks with a wide set of transport features. Orckit-Corrigent markets its products directly and indirectly through strategic alliances, as well as distribution and reseller partners worldwide. Orckit was founded in 1990 and went public in 1996. The company is active in APAC, Western and Eastern Europe, and America.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Orckit Communications Ltd.

By Staff

CONTACT: CONTACT: Investor Contact:
Jeff Corbin / Rob Fink
KCSA Strategic Communications
212.896.1206
jcorbin@kcsa.com / rfink@kcsa.com

(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.

Good idea to load up ORCT again? Chart intrigues me down here ;)

Orckit unit nears major deal
Corrigent Systems’ potential new customer is Global Crossing.
Ilanit Hayut and Gitit Pincas 16 Oct 07 12:34
Sources inform ''Globes'' that Orckit Communications Ltd. (Nasdaq: ORCT; TASE: ORCT) subsidiary Corrigent Systems Inc. is closer than ever to signing a new contract that is potentially worth tens of millions of dollars, or even more. The new potential customer is reportedly US tier-1 telecommunications provider Global Crossing Inc. (Nasdaq:GLBC). The companies have reportedly exchanged final drafts ahead of signing a contract.
The sources added that Corrigent COO Zvi Menahemi was recently in the US to finalize the contract. He has been in charge of the development of Corrigent’s technology since the company was founded, after previously serving as VP R&D at Orckit.

Orckit declined to comment on the report.

Global Crossing provides telecommunications solutions over the world's first integrated global IP-based network. Its core network connects more than 390 cities in more than 30 countries, and delivers services to more than 600 cities in more than 60 countries. The company has a market cap of $790 million.

In a separate development, Orckit will receive $14.2 million plus coverage of attorney fees for settling its dispute with Globespanvirata Inc. during 2001-2003 prior to it being acquired by Conexant. The International Center for Dispute Resolution (the international division of the American Arbitration Association) ruled in Orckit’s favor in the arbitration hearing.

Orckit closed at $8.66 on Nasdaq yesterday, giving a market cap of $136.6 million. It rose 13% in morning trading on the TASE today.

Published by Globes [online], Israel business news - www.globes.co.il - on October 16, 2007

Orckit win $12m arbitration as it waits for another deal
VP Rosenfeld: We’re optimistic that we’ll still be able to announce new wins this year.
Gitit Pincas 15 Aug 07 13:31
Orckit Communications Ltd. (Nasdaq: ORCT; TASE: ORCT) has won an initial $12 million, plus applicable interest and costs, in an arbitration ruling from the International Centre for Dispute Resolution (the international division of the American Arbitration Association - ICDR) in New York. The award covers damages Orckit incurred in 2001-03 from Virata, a supplier of semiconductor chips that was acquired by Conexant Systems Inc. (Nasdaq:CNXT). The chips were used in Orckit's legacy DSL products.
Conextant has notified the US Securities and Exchange Commission (SEC) that it will appeal the arbitration decision.

Orckit intends to seek an additional award of costs, including attorneys' fees, expenses and interest, as allowed by the ICDR's interim award. The company added that it cannot estimate the complete payment it will recover, or the outcomes of any efforts by Conexant to challenge the ICDR's award.

The original cooperation, licensing and deliveries contract with Virata was signed in 1998. Virata was later acquired by Globespan, which was acquired by Conexant in 2004. The contract included a clause stipulating the prices and terms for the sale of processors to Orckit. Orckit claimed that Virata breached the contract in 2001, by not supplying the processors and that stipulated prices and that it sold them to three other customers at a lower price. Virata also failed to notify Orckit in advance that it was terminating the contract.

Ocrkit claimed $30 million in direct and indirect damages. The three-judge arbitration panel heard the case between January and April.

Orckit VP marketing Gad Rosenfeld said, “We’re disappointed that we haven’t been able to report wins with new customers earlier. However, we’re optimistic that we’ll still be able to announce new wins this year.” He made the comments at the RBC Capital Markets North American Technology Conference in San Francisco last week, in response to a question by a member of the audience. The question reflected investors’ worries about the company. The company’s contract with Japan’s telecommunications carrier KDDI Corp. (TSE:9433), worth hundreds of millions of dollars is all very nice, but shareholders expect to see more contracts for products of Orckit subsidiary Corrigent Systems Ltd.

Corrigent is Ockit’s sole business. The company has developed its CM-100 solution for building optical communications networks that support triple play. Orckit has a market cap of $130 million.

Published by Globes [online], Israel business news - www.globes.co.il - on August 15, 2007

Orckit investors wait for new customer
Orckit CFO Aviv Boim: We’re in a good position for a win.
Gitit Pincas 16 Jul 07 19:15
Orckit Communications Ltd. (Nasdaq: ORCT; TASE: ORCT) investors have been waiting for a new customer for a long time. The technology of subsidiary Corrigent Systems Ltd. has been undergoing trials by customers in Asia and elsewhere, but so far, all that the company has to show for them is a large contract with KDDI Corp (TSE: 9433), Japan’s second largest carrier. While certainly boosting Orckit’s results in past quarters, it’s not enough to consider Orckit a growth company that will deliver the goods.
Investors’ hopes for more contracts were raised by comments by Orckit executives during a conference call in May. Orckit president Itzhak Tamir and CFO Aviv Boim said that, by the end of June, one of the company’s potential customers in Asia would decide whether to buy Corrigent’s systems or not. They let it be understood that the customer had to reach a decision. However, June has come and gone and July is more than half over, and Orckit has made no official statement regarding the ostensible postponement of the decision.

Boim is due to leave Orckit soon. At a presentation last week at an emerging growth conference by CE Unterberg, Towbin in New York, he said, “We’re still involved in the process in Asia. Regrettably, for various reasons, the decision has been postponed. We still believe that it will be taken within the coming month or thereabouts, and sometime during the third quarter in any event. We’re in a good position for a win there.”

Published by Globes [online], Israel business news - www.globes.co.il - on July 16, 2007

Fidelity sells Orckit stake no wonder
The company's largest institutional investor has offloaded nearly all of its 6.9% holding.
Gitit Pincas 12 Jul 07 10:02
Telecommunications equipment manufacturer Orckit Communications Ltd.'s (Nasdaq: ORCT; TASE: ORCT) largest institutional investor, Fidelity International ,has offloaded almost the entire position that it held in the company through its investment arm FMR. Fidelity notified the US Securities and Exchange Commission (SEC) yesterday that it now holds less than 1% in Orckit, a holding which is now worth $1.3 million.
In February, FMR held 6.9% of Orckit, when the company's stock price stood at more than $11. The stock is currently trading at $8.80, as the market awaits news of the major contract that Orckit is expected to sign shortly.

Orckit's activity at present is its subsidiary Corrigent Systems, which has developed the CM -100 a solution for triple play, voice, video, and data communications transfer over Ethernet networks. Orckit currently has a market cap of $140 million, and it is due to publish its quarterly financials on August 15. However, an indication of its current situation could be forthcoming when the company makes its presentation today at the C.E. Unterberg, Towbin Emerging Growth Opportunities Conference now taking place in New York. Investors will be hoping to hear from the company what has happened to the contract it said it expected to close by the end of June.

Orckit expects to report a net loss of $8.5 million, or $0.54 per share on $1.7 million revenue in the second quarter. It was disclosed on Tuesday that CFO Aviv Boim is likely to leave following the publication of the company's third quarter financials, and that Ehud Rokach had stepped down as CEO of Corrigent for personal reasons. Orckit stressed that the two departures were not related.

Published by Globes [online], Israel business news - www.globes.co.il - on July 12, 2007

No, Cisco is not buying Orckit, surmises Unterberg
16.11.06 | 12:09 By Omer Sharvit
Shares in Orckit Communications (Nasdaq: ORCT) have risen 30% since the company published its unhappy third-quarter results, and supplied disappointing forecasts for the fourth quarter. So what fueled the gains?

Rumors that Cisco is buying Orckit for $20 per share, that's what.

CE Unterberg Towbin thinks that highly unlikely, at least until Orckit proves itself by roping in a major client.

Also, Unterberg notes that Cisco is not in the habit of proliferation through acquisition of publicly traded companies.

Since October 23, 2006, shares in Orckit have risen 65%.

For the third quarter of 2006 Orckit said that profit fell almost 90% against the previous year, hurt by a slowdown in customer expansion efforts. The company reported net income of $985,000, compared with a profit of $7.6 million in the same period of 2005.

The 2005 quarter included capital gains of about $2.4 million from the sale of holdings in Siliquent Technologies to Broadcom, it explained.

The company said its business will likely be affected by a slowdown in expansion by its largest customer, Japanese mobile phone carrier KDDI. Orckit narrowed its outlook range and now projects full-year 2006 earnings of $4.1 million, or 25 cents per share, and revenue of $63 million.

Revenue for the quarter fell to $15 million from $25.4 million in the prior-year quarter.

http://www.haaretz.com/hasen/spages/788968.html

Did you notice what happened to Orckit Communications Ltd. (Nasdaq: ORCT; TASE: ORCT)? Why did the share rise? It rose because of a rumor, which has been around since the share hit a low point, by the way. The rumor might be right, but it has nothing to do with the Israeli company’s current business circumstances. The rumors say that Cisco Systems Inc. (Nasdaq:CSCO) is about to buy Orckit. Yesterday’s rise was solely due to the acquisition of M-Systems Flash Disk Pioneers Ltd. (Nasdaq: FLSH), and was unrelated to any business event on the part of Orckit. It was pure speculation. The only important thing for me is to explain again and again to anyone buying Orckit on a day like yesterday that they must understand that it’s a roulette chip. In contrast, anyone who bought Orckit the day before can say that he or she bought the share because of the quality of the company.

Published by Globes [online], Israel business news - www.globes.co.il - on August 1, 2006

http://www.globes.co.il/serveen/globes/docview.asp?did=1000118592&fid=1052

Dubi

KDDI not seen stepping up deployment of Orckit equipment
Oscar Gruss analyst Roni Biron cut his revenue forecast for Orckit to $68.8 million.

Gitit Pincas 24 Jul 06 12:59

When a company is dependent on a single large customer, any sneeze by that customer is liable to give the company a bad cold. The shareholders in Orckit Communications Ltd. (Nasdaq: ORCT; TASE: ORCT) know this very well, each time that the company’s large, and almost sole, customer, KDDI Corp. (TSE: 9433) of Japan, publishes an update. KDDI’s latest update on Friday indicates that Orckit will not see immediate orders. Orckit will publish its financial report for the second quarter next Tuesday.
For two years, Orckit subsidiary Corrigent Systems Inc. has been selling optical transport solutions for KDDI’s metro and national networks. Corrigent’s product enables voice, video, and Internet connectivity. Orckit is dependent on KDDI for every stage of the project. The first stage is the initial coverage of the network in key cities. Once there are enough users, capacity will be expanded in the second stage. Orckit simultaneously hopes to win new contracts.

On Friday, KDDI published its financial report for the first fiscal quarter of 2007 ending in June 2006 (the company’s 2007 fiscal year ends in March 2007). Oscar Gruss analyst Roni Biron concludes that KDDI has no reason for placing more large orders with Orckit over the next three months. Although he kept his forecasts for Orckit for the second quarter, he slashed his forecasts for the year. He now predicts that the company will post $68.8 million revenue, $10 million less than his previous forecast, and cut his earnings per share forecast to $0.37 from $0.65. He kept his “Buy” recommendation for the share, but cut the target price from $15 to $13, which is still 45% above its current market price.

C.E. Unterberg Towbin analyst Richard Church added some positive aspects. In a conference call, KDDI’s management said it would continue deploying advanced equipment in mountain regions, which could generate millions of dollars in revenue for Orckit.

Orckit has been greatly disappointed as far as new customers are concerned. Previous indications by the company implied an announcement by the end of the second quarter, but it hasn’t happened yet. Next Tuesday, it will possible to learn whether the company will pull a rabbit out of its hat in the form of a new customer, or whether it will still rely on KDDI and new leads. At a recent C.E. Unterberg Towbin conference, Orckit CFO Aviv Boim said the company was bidding in tenders and trials, and that he was waiting for new wins in Asia in late 2006 and early 2007. He isn't the only one waiting.

Published by Globes [online], Israel business news - www.globes.co.il - on July 24, 2006

Dubi

I am taking advantage of the “butchering” suffered by Orckit Communications (Nasdaq: ORCT; TASE: ORCT) over the last year, and am increasing my holding in the stock after selling part of it a year ago at prices that were 2.5 times what they are today. I am not doing this because I am aware of something positive in the short-term, but rather, because I think that Orckit’s current value of $153 million (of which $110 million is in cash) has taken into account almost all the bad news but does not reflect the potential for positive surprises.

The upcoming trigger for Orckit will come this Friday, with the publication by Japanese company KDDI Corp (TSE: 9433) of its results for the second quarter. It is also expected to unveil its roll-out and investment plan for the coming year, which will give an indication of the chances that Orckit’s subsidiary Corrigent Systems could win more orders from KDDI after the freeze at the beginning of 2006.

Orckit will publish its own second quarter results next Tuesday. These will be in line with market expectations, because quarterly sales are already in last quarter's deferred sales item. On the other hand, it is highly likely that the lack of new orders from KDDI could require Orckit to once again revise downwards its guidance by the end of the year, and I think its share price already includes such a scenario. I nevertheless hope it will disclose more information on the potential new contracts in 2007. The stock market usually looks several months forward, and if 2007 looks like a year of renewed orders from KDDI plus new contracts for Orckit, the share will deliver a powerful response before this year is over.

Published by Globes [online], Israel business news - www.globes.co.il - on July 18, 2006

http://www.globes.co.il/serveen/globes/nodeView.asp?fid=1176

Dubi

De Nada, Bss,

Mind you, i did not expect this bounce,
at least not so soon.

Anyway, i am happy for you.

:)

Dubi

Thanks for help again.Didn't sell yesterday. I am holding.

I think you are right. I spoke with Lee Roth, from ORCT's IR and was encouraged by what he had to say. It does sound like the company is on the right track and its very cheap at these levels but that there likely wont be any huge news til next year when a lot of the testing by the big carriers heats up. I sure wish that ORCT management would step up to the plate and help restore some confidence in the stock by starting a stock buyback.

Appreciate your kind words, Bss.

Regards,

Dubi

Thanks Dubi. I wish well for ISRAEL in this difficult time.

ORCT is in a-wait-for-good-news mode.
My take is that recovery is possible,
in about one years time.
I do not foresee a short term recovery.

Dubi

I lost a lot of money on ORCKIT ,but still holding.Do you think
it will ever recover? I do not want to sell and then it will go
up.Do you think that this is the lowest.Please comment.

Corrigent Releases TDM-to-Ethernet Interworking on the CM-100 Packet Transport Solution

Monday June 26, 8:00 am ET

Streamlines Transport Networks for Ethernet Service Support

SAN JOSE, Calif.--(BUSINESS WIRE)--June 26, 2006--Corrigent Systems, a leading provider of packet transport solutions for next-generation transport networks, announced today that it has released TDM-to-Ethernet suite of interfaces for the CM-100 that enables carriers to easily aggregate Ethernet and other packet services from their existing TDM access networks. Using the CM-100, service providers can now offer popular Ethernet services over existing TDM access networks and aggregate these services efficiently on 10Gbps packet rings. This capability simplifies their networks, eliminates complicated interconnection equipment, lowers costs and creates the opportunity to quickly deliver Ethernet services using existing copper networks.
The following new interfaces are now available on the CM-100:

24-port DS3/E3 clear-channel user interface module with Ethernet-over-PDH termination, as well as PPP to Ethernet Layer-2 interworking
PPP/MLPPP to Ethernet Layer-2 interworking on 6-port DS3/E3 channelized user interface module
Each of the modules also supports transport of native TDM channels, and the TDM-to-Ethernet interworking capability is configurable on a per-channel basis.

Service providers around the world deliver Ethernet and other data services over various access networks. TDM networks and circuits are used in most cases where fiber is not available to reach end customers. Ethernet E-Line, E-LAN, as well as access to Layer-3 VPN services are delivered in those cases over DS1/E1, bundled DS1/E1, or DS3/E3 circuits.

The Layer-2 interworking function on both DS3 interface types is designed to terminate PPP and/or bundled MLPPP sessions and map each individual connection to a standard Ethernet VLAN. Among the economic benefits this functionality will bring to service providers is the ability to replace channelized TDM interfaces to service terminating network elements, taking advantage of low cost Ethernet interfaces. These interfaces provide 1:1 and 1:N protection and support classification based on IP header priority bit information.

With these new capabilities, Corrigent's Packet Transport solution delivers savings that are unmatched by other available transport and aggregation solutions, and facilitates the migration to Ethernet-centric networks.

About Corrigent

Corrigent Systems is a market leader in next generation metro transport systems. The CM-100 product line has been designed to enable profitable delivery of voice, video and data services over a converged packet transport infrastructure. Corrigent Systems focuses in metro transport technology that maximizes revenue and profit for service providers. Used by carriers worldwide, the CM-100 product line integrates RPR with MPLS technologies to provide an efficient universal transport solution, eliminating the need for multiple transport network elements. Corrigent's packet transport solution allows carriers to evolve their SONET/SDH-based transport networks towards a packet-aware transport network, 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/060626/20060626005354.html?.v=1

Dubi

The more speculative investors in the telecommunications sector, myself included, always look for small companies such as Orckit Communications (Nasdaq: ORCT; TASE: ORCT), which, provided the timing of the entry is right, will produce massive returns, in the full knowledge that such an entry can also cause heavy losses if it is made too soon. Orckit’s Corrigent Systems will also be at the Chicago conference and will be exhibiting its capabilities later in the week, although I do not expect the stock to soar, nor the hemorrhaging of recent weeks to abate.

There are some analysts who are continuing to hammer Orckit with downgrades in forecasts and ratings, despite the fact that its market cap has sunk below the $100 million level (excluding cash), the value of a start-up. “The value of a bad start-up,” joked Orckit CFO Aviv Boim at the CIBC conference two weeks ago.

As an investor, at a market cap like this, I have completely written off the potential for further orders from Japanese company KDDI, the customer who lifted us to $31, only to drag us down to Friday’s low of $11.60. Any further business from KDDI will be welcomed, but I now look on Orckit in a different light.

Corrigent is currently working on changes to the support capacity of its equipment, under an assumption that potential big customers will require one single system that can support thousands of subscribers, instead of hundreds as is the case with KDDI. Major tenders in this area are expected to be issued by the end of the year, ahead of the big Triple Play service roll-out (from 2007 onwards) by the big telephony companies in Japan, Korea, France, followed by the US.

The most logical scenario for Orckit would be to team up with one of the big equipment suppliers that does not have any solutions of its own, and make a joint bid for major tenders. I understood from the CIBC conference that France’s Alcatel (NYSE: ALA; Paris: CGEN) is the only company with a rival solution to that of Corrigent, although it does not have the technological advantages that the Corrigent solution has. Cisco, Juniper Networks Inc. (Nasdaq: JNPR), and Foundry Networks Inc. (Nasdaq: FDRY) will all begin taking an interest in Orckit, once the tenders are published.

As far as stock price is concerned, I cannot predict what the rock bottom price will be, since every stock sometimes experiences irrational hyperactivity in both directions. I am convinced, however, that the moment the big tenders go out at the end of the year, the speculation alone will send the stock soaring, even before Orckit wins any contracts.

For those who don’t remember, Orckit soared by hundreds of percentage points, one year before it officially announced the winning of the KDDI contract. A market veteran had this to say to me about Orckit, “You should have sold the stock as soon as all the analysts discovered it and start raving about it. Buy it again once they’ve finished downgrading their ratings.” It looks to me like this will happen soon.

http://www.globes.co.il/serveen//globes/docView.asp?did=1000099511&fid=1176

Dubi

Unterberg cautious about Orckit after getting burned

By Shirley Yom-Tov

Rick Church repeats Market Perform rating, worries about the competition

On January 30, 2006, Orckit Communications (Nasdaq: ORCT) stock spiked to a 12-month high of $31 per share. Since then, its investors have stopped smiling: shares in Orckit lost 60% over six months.

CE Unterberg Towbin analyst Rich Church was also burned and now he's turned cautious, and points to the risks Orckit faces. Orckit makes advanced high-speed digital modems that enable broadband data access over copper phone lines.

At the end of 2005 he'd upgraded Orckit to Buy. But after the swan dive, in April he downgraded it to Market Perform and now, in his report delivered last week, he has no upgrade in mind.

Orckit's potential to get more orders from KDDI is limited in the near future, nor does he see new orders before the third quarter of 2006. Even if any do materialize, they will focus on limited network deployment in rural areas.

KDDI is Orckit's only significant customer. An anticipated slowdown at KDDI forced the Israeli company to lower its revenue forecast for 2006 to $80-100 million.

Orckit stock from 2005

Orckit is also looking beyond KDDI, a Japanese company, and is contending for work from Tier 1 telecoms companies in the U.S. Japan and India. It wouldn't scorn orders from smaller customers as well, says Church.

It has opportunities but he doesn't expect any of this to generate significant income this year, perhaps from early 2007. Nor does Church see major contracts of more than $5 million to $10 million each in the near future: Orckit could well get bigger contracts but Church doesn't see the telcos reaching any such decisions before the middle of 2007.

He believes Orckit is developing a new product, but sees rivals like the French company Alcatel on its heels, contending for the big contracts. Orckit has more mature technology but it lacks the resources that the giants have, which could make the difference, Church says.

For the year 2006 Church lowered his forecasts for Orckit to $72 million revenue, instead of $87 million, which is less than the company is predicting. His earnings per share forecast is only 42 cents, down from 76 cents.

Orckit itself is projecting 68 to $1.20 cents per share for 2006.

http://www.haaretz.com/hasen/spages/723109.html

Dubi

Corrigent's CM-100 Packet Transport Solution Receives Metro Ethernet Forum Certification

Monday May 22, 8:00 am ET
Validates Compliance of CM100 Product Family with MEF's Ethernet Services Definition

SAN JOSE, Calif.--(BUSINESS WIRE)--May 22, 2006--Corrigent Systems, a leading provider of Packet Transport for next-generation transport networks, announced today that the CM-110 and CM-106 Packet Transport Systems have been certified by the Metro Ethernet Forum as compliant with the MEF Carrier Ethernet Services, Test Specification MEF9. The MEF is an international forum focused on promulgating specifications to accelerate the worldwide adoption of Ethernet Services.

Ethernet services are one of the fastest growing sectors in the telecommunications services industry. According to Infonetics Research, metro Ethernet equipment sales is expected to grow from $4.9 billion in 2005 to $15.5 billion by 2009. The MEF certification is facilitating the introduction of new Ethernet equipment to telecom carriers networks. It allows end users to have greater confidence in Ethernet services consistency across geographies and service providers' networks.

The CM-110 and CM-106 were tested in accordance with the MEF Test Plan for Ethernet Services at the UNI, which defines the requirements and corresponding test procedures that determine the readiness of a Metro Ethernet Network (MEN) to deliver various Ethernet Services, such as Ethernet Line (E-Line) and Ethernet LAN (E-LAN) services.

The CM-100 product line is a packet transport solution capable of delivering carrier-class Ethernet services over a converged packet transport infrastructure. It offers high service availability and guaranteed performance as well as advanced service and fault management capabilities. In addition to Ethernet services, the CM-100 offers TDM, Fibre Channel, and HDLC-based service transport.

About Corrigent

Corrigent Systems is a market leader in next generation metro transport systems. The CM-100 product line has been designed to enable profitable delivery of voice, video and data services over a converged packet transport infrastructure. Corrigent Systems focuses in metro transport technology that maximizes revenue and profit for service providers. Used by carriers worldwide, the CM-100 product line integrates RPR with MPLS technologies to provide an efficient universal transport solution, eliminating the need for multiple transport network elements. Corrigent's packet transport solution allows carriers to evolve their SONET/SDH-based transport networks towards a packet-aware transport network, 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/060522/20060522005491.html?.v=1

Dubi

Hi Eagle,

I am out of ORCT, watching it still on the sidelines.
A second customer will indeed do wonders to the company,
but it seems still far away.

With further decline of pps, it could be interesting.

Re : TKCRF, I am more or less stuck with it, nothing in
the horizon.

Regards,

Dubi

Hey Midas, how's it going? Are you in ORCT? I am tempted to take a position at these prices. Announcement of a new customer sends this back to the upper teens, IMO.


Is anything new with TKCRF?

Orckit, a falling knife?

01.5.06 | 14:29 By Aloni Madar

It was a crazy week for Orckit Communications (Nasdaq: ORCT). The stock, quite a favorite among investors until recently, lost a quarter of its value. In fact, seen from the start of 2006, Orckit has lost half its value.

Some say that investing in stocks is like driving forward with your eyes fixed on the rear-view mirror, as the world of accounts will always reflect what was, not what will be.

Orckit in the rear-view mirror is a glittering sight. Looking ahead, though, all investors see is murk.
On Thursday Orckit published its results for the first quarter of 2006. Against the parallel quarter its results were good and against the previous quarter, the ;quarter of 2005, they were less good.

Revenues were $25 million and profit was $5.8 million. In the parallel quarter it netted $3.14 million on revenues of $20.6 million. But against the previous quarter, the results were a decline and the future looks worse.

Orckit shares are now 25% to 30% below their level at the end of the first quarter 2005. They are almost 50% below their level at the end of 2005.

True status

Is Orckit stock a buy opportunity? Is the question only one of true value, or of negative momentum as well?

The company's financial statements have a few lessons to teach. Management expects a slight drop in sales and a bigger drop in profits this year.

Yet the company will remain profitable. Its pessimistic scenario talks of $11.5 million profit.

Moreover, Orckit is a stable company with responsible management and an estimated earnings multiple between 10 to 20.

Those are the facts, and it's up to each investor to decide what to do with them.

Some investors seek falling knives, which is market argot for stocks sliding hard and fast that could cut you deep if you try to catch them. Is Orckit a falling knife?

Orckit is no fly-by-night that suddenly blew up into monstrous proportions, only to lose air overnight. The increase in its share price had been prompted by real achievements: higher sales and opening of its market. All this is still true.

Optimists look at the half-full cup of its executive review: trials of its products in the Japanese market, and the bottom of its guidance for sales and profits. By those criteria Orckit shares are a good buy. At a share price of $15-16, I personally believe Orckit is attractive for the medium run.

The writer and his company may hold securities, including securities mentioned in this column. Under no circumstances does the information in this column present a recommendation to buy or sell stocks. This article does not constitute a substitute for personal advice from an expert.

http://www.haaretz.com/hasen/pages/ArticleContent.jhtml?itemNo=711659

Dubi

Orckit slashes guidance for 2006

30.4.06 | 14:26 By Asaf Rothem

Since the end of January, Orckit Communications (Nasdaq: ORCT) stock has slumped by 39%. As last week closed, the company provided grounds for the dive, in the form of depressing guidance for the year 2006.

Orckit basically said that it doesn't expect to deliver any sales growth in 2006, and that's the best-case scenario. The worst is a 20% slide in revenues.

The company is predicting revenues in the range of $80 million to $100 million for 2006, versus $101 million in 2005.

It expects to net $11.5 million to $20 million in 2006. That translates into 68 cents to $1.20 per share.

In the last year, 2005, Orckit netted $22.2 million.

Beforehand its forecast for 2006 had been for $125 million in sales, and net profit of $25.8 million or $1.50 per share.

Yet there were upsides in its announcement too. In the first quarter of 2006, Orckit did much better than expected: revenues grew 20% to $25 million and its net profit shot up 87% to $5.8 million, or 34 cents per share.

The average forecast on Wall Street had been for $24 million revenues and earnings of 21 cents per share.

Orckit stock from 2004

Throughout the last year Orckit was dependent on a single client, the Japanese company KDDI. Every news item about KDDI therefore impacts Orckit stock, and hard. Last week Oscar Gruss published concerns that KDDI's 2006 sales might fall short of forecasts. Orckit's share price promptly lost 15% of its value.

Meanwhile, Orckit says its products are undergoing final testing at no less than six new potential clients, but it has yet to announce a closing with any of them.

http://www.haaretz.com/hasen/spages/711193.html

Dubi

Orckit Communications Reports 2006 First Quarter Results

Thursday April 27, 9:00 am ET


TEL AVIV, Israel, April 27 /PRNewswire-FirstCall/ -- Orckit Communications Ltd. (Nasdaq: ORCT - News) today reported results for the first quarter ended March 31, 2006.

Revenues in the first quarter of 2006 were $25.0 million compared to $20.6 million in the quarter ended March 31, 2005 and $33.4 million in the previous quarter ended December 31, 2005.

Net income for the quarter ended March 31, 2006 was $5.8 million, or $0.34 per diluted share, compared to net income of $3.1 million, or $0.18 per diluted share, for the quarter ended March 31, 2005 and net income of $7.6 million, or $0.45 per diluted share, for the previous quarter ended December 31, 2005.

The weighted average number of shares used in these calculations was 17.0 million for the quarter ended March 31, 2006, 16.0 million for the quarter ended March 31, 2005 and 16.8 million for the quarter ended December 31, 2005.

Key highlights for the quarter:

- Product deployment by KDDI Japan continued, supporting the ongoing expansion of its metro network. KDDI projects an increase in subscriber base of its VoIP Metal Plus and Triple Play Hikari Plus service offerings. KDDI is expected to continue expanding its wireline and 3G wireless service offerings utilizing Corrigent's CM-100 packet ADM across its metropolitan area network.

- Corrigent announced the support for Ethernet management functions for Operation, Administration and Maintenance (OAM) on its 10Gbps CM-100. It is a highly advanced transport network element implementing Ethernet management tools. Evaluation results of this suite of Ethernet OAM functions were presented by KDDI R&D Labs at the OFC/NFOEC telecommunications show earlier this year.

Izhak Tamir, President of Orckit, commented: "As KDDI has discussed in its conference calls, it is progressing in its efforts to have a fully IP-based fixed-mobile converged network and is expanding its wireline footprint in Japan. We expect that this expansion will be supported by the CM-100 product architecture."

Mr. Tamir added: "Recently, there have been major developments in Japan's telecom market with the grant of three additional 3G licenses, and with the acquisition of cellular carrier Vodafone KK by Softbank. We are experiencing delays in the selection processes for metro equipment such as our CM-100. While we remain on track with product evaluations in Japan, we expect that the selection of metro equipment vendors will occur toward the end of fiscal year 2006."

Mr. Tamir concluded, "We continue to innovate and enhance our CM-100 packet ADM, adding capabilities that allow for the support of "quadruple play" services. In addition to HDTV, VoIP and data services over fixed line networks, our solution also offers support for TV over cellular services, all over a single converged platform. As carriers begin to roll out these services, we expect that demand for the CM-100 platform will increase, reaching a broader range of telecommunications carriers for a variety of applications. Product evaluation activity in Japan and in other territories continues and we expect to turn these evaluations into commercial sales."

Outlook and Guidance

In its year-end financial conference call earlier this week, KDDI discussed plans for its fiscal year that commenced April 1, 2006 and indicated its planned rate of metro expansion, which is lower than expected. We are revising guidance as follows: for the year ending December 31, 2006, we expect revenues to be in the range of $80.0 million to $100.0 million, net income to be in the range of $11.5 million to $20.0 million and net income per diluted share to be in the range of $0.68 to $1.20.

Conference Call

Orckit Communications will host a conference call on April 27, 2006, at 11 a.m. EDT. The call can be accessed by dialing 1- 866-406-5408 in the United States and 1-973-582-2822 internationally. A replay of the call will be available at http://www.orckit.com. A replay of the call will be also available through May 4, 2006 at 11:59 p.m. at 1-877-519-4471 in the United States and 1-973-341-3080 internationally. To access this replay, enter the following code: 7239168.

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/060427/nyth129.html?.v=48

Dubi

Orckit Communications Ltd. (Nasdaq: ORCT) First Quarter 2006 Conference Call

Monday April 3, 8:45 am ET

TEL AVIV, Israel, April 3 /PRNewswire-FirstCall/ -- Orckit will release first quarter 2006 results on the morning of Thursday, April 27, 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 Thursday, April 27, 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: 1-866-406-5408
International: 1-973-582-2822

At:

11:00 a.m. Eastern Daylight Time
8:00 a.m. Pacific Daylight Time
6:00 p.m. (Israel)

For those unable to participate, there will be a replay available from April 27, 2006 at 1:00 p.m., EDT, through May 4, 2006 at 11:59 p.m., EDT.


Please call:
Domestic: 1-877-519-4471
International: 1-973-341-3080
ID Code for Replay: 7239168

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.

http://biz.yahoo.com/prnews/060403/nym190.html?.v=38

Dubi

Tue: Orckit - worth thinking about
I agree with the analysts who rated Orckit “Buy,” mainly because of the company’s technology and management.

Shlomo Greenberg 21 Mar 06 17:22

Orckit Communications (Nasdaq: ORCT; TASE: ORCT) crossed the $31 mark at the end of January and by the end of last week had slumped 35%. Such a case of anticipation and subsequent decline is difficult to explain, but it appears to be commonplace among tech stocks. From what I have seen in recent months, it is clear that it has nothing to do with Main Street and is entirely the work of Wall Street. In the case of Orckit, nothing new happened that would explain the fall, certainly nothing bad and the company has in fact been producing nothing but good news of late. So why did the stock fall as it did? There are those who put it down to the disappointment with the financial reports while others claim that what harmed the share was the organized share sale by two managers Orckit chairman and CEO Eric Paneth and Tikcro chairman and CEO Izhak Tamir, through Credit Suisse.
Such a move flies in the face of all reason. Two senior shareholders come along and secure their future right up to 2012. But why not? After all, these two have been through a lot and held on to their shares (in contrast to a few managers in other companies), even when the company stock represented a value of more than $1 billion, and after succeeding in pulling the company out of the crisis it was in. So don’t they deserve to earn something for all their troubles? The market never punishes a stock for sales of this kind. There are those who still accuse Orckit of being a one client company. But although this is no longer the case, as there are new customers (and we believe that if the platform is as good as users say it is, the number of clients will only increase), the stock still fell 35%.

So what was it that made things change this week? Positive ratings from RBC Capital Markets analyst Daniel Meron, and Oscar Gruss analyst Roni Biron. Both analysts gave the company high scores, with Meron setting a target price of $32 and Biron setting a target price of $32. This, I feel, is what made the trend change at the end of the week.

I wholeheartedly agree with the two analysts regarding their “Buy" ratings Orckit, principally because of the company’s technology and management. The "single customer" issue will eventually fade and there is another interesting factor which Meron feels is currently influencing the stock and this is the attempted takeover of Vodafone Japan’s cellular division by Japanese bank Softbank for $15 billion. At the time of writing this article, it looked as though the deal was nearing closure. But since then, several private US giants such Cerebus Capital Management LP have also stepped in and are also battling for the acquisition of the Vodafone division.

Of course, the US groups can go head to head with Softbank and the process could therefore take some time to reach a conclusion. It could harm Orckit’s future contract schedule and as long as this state of affairs persists, more speculators and dealers will join the fray, each with his own idea of the stock should be moved. A price of $20-22 or even more is certainly economic as long as this state of affairs persists.

Published by Globes [online], Israel business news - www.globes.co.il - on March 21, 2006

http://www.globes.co.il/serveen/globes/DocView.asp?did=1000073929&fid=980

Dubi

Buy Orckit on the dip, says Unterberg

19.3.06 | 14:02 By TheMarker

Buy on its weakness, CE Towbin Unterberg counsels on Orckit Communications (Nasdaq: ORCT) stock. There's no change to its story and the pullback has created opportunity.

The stock has taken a pounding since Orckit filed its fourth-quarter financials, says analyst Rich Church, partly because of weak results and partly because investors suspect the first quarter will remain relatively feeble.

Church writes that Orckit's No. 1 client is the Japanese company KDDI may be responsible for the downtick - because its fiscal year starts on April 1. Once the new fiscal year begins, he predicts that KDDI will start executing aggressive deployment plans.

Investors are also unhappy about forward transactions by Orckit's chief executive and president, Church surmises. "While management sales are often antitrust commissioner concern, we believe this particular transaction was against 420,000 options that each received in lieu of part of their salaries for 2005," he says, adding: "The options have a strike price of $27.14 per share, well above the current stock price."

He believes that ultimately each will remain with more than a million shares in Orckit.

http://www.haaretz.com/hasen/spages/695890.html

Dubi

It seems the street wasn't liking something in the annual report that Orckit filed. I don't see what it is. Any thoughts?
http://edgar.brand.edgar-online.com/default.aspx?cik=0001021620

Zaphod

Corrigent Wins Top Exporter Award from the Israel-Japan Chamber of Commerce

Wednesday March 15, 8:00 am ET

SAN JOSE, Calif.--(BUSINESS WIRE)--March 15, 2006--Corrigent Systems, a leading provider of Packet Transport for next-generation transport networks, today announced that it has been named the top exporter from Israel to Japan for all of 2005. The award is given every year to the company that has the most exports to Japan by the Israel-Japan Chamber of Commerce. The award is for sales of the CM-100 to the Japanese market, mainly to KDDI, Japan's second largest telecom carrier. The CM-100 is a next generation transport platform used by telecom service providers to aggregate and transport video, voice and data services capable of supporting millions of subscribers throughout a nation wide network. Last year Corrigent received an award as the "Outstanding New Exporter to Japan" from the same organization.

"The success of our customers in Japan enabled us to receive this award," said Ehud Rokach, CEO of Corrigent Systems. "Our products meet the needs of service providers that offer advanced services for video, voice, cellular and data markets. We thank the Israel-Japan Chamber for recognizing our efforts," he said.

About Corrigent

Corrigent leads a new class of metro-optical transport products that is revolutionary in its economics. Corrigent's CM-100 packet transport equipment fuses together SONET/SDH technologies with packet technologies such as RPR, Ethernet and MPLS, to evolve today's SONET/SDH-based transport infrastructure to the next generation packet-based transport network, in both a standards-based and interoperable manner. This breakthrough architecture solves the metro dilemma for service providers worldwide by allowing them to bridge their existing SONET services with next-generation data, voice and video services. Orckit Communications (NASDAQ:ORCT - News) is the parent company of Corrigent. For more information visit Corrigent at: http://www.corrigent.com

http://biz.yahoo.com/bw/060315/20060315005081.html?.v=1

Dubi

Corrigent Supports Ethernet OAM on its 10Gbps CM-100
Tuesday March 7, 8:00 am ET
Ethernet OAM Evaluation Results to be Presented in OFC/NFOEC by KDDI R&D Laboratories Inc.


SAN JOSE, Calif.--(BUSINESS WIRE)--March 7, 2006--Corrigent Systems, a leading provider of Packet ADM (Add Drop Multiplexer) for next-generation transport networks, today announced the availability of new Ethernet management features for the CM-100 product line designed to enable operators to improve network management capabilities. The suite of Ethernet management functions for Operation, Administration and Maintenance (OAM) represents the first transport network element implementing Ethernet management tools.
Supporting telecom industry standardization efforts, the CM-100 Packet Transport Platform offers new monitoring, testing, and diagnostic capabilities designed to assist network operators with provisioning, maintaining and troubleshooting their networks. These new features provide operators the tools required to test, identify and isolate problems before and as they occur, as well as to rapidly take actions to correct such problems.

The new Ethernet maintenance and diagnostic capabilities now available in Corrigent's CM-100 product line include the following:

Ethernet connectivity check
Ethernet loopback messages
Ethernet frame delay measurement
Ethernet test packet generation and monitoring
Ethernet port-mirroring for non-intrusive traffic analysis
Carriers are migrating their networks from traditional TDM to a packet-oriented multi service transport infrastructure. The recent shift in traffic profile in favor of Ethernet traffic 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 Ethernet services and functions. Ethernet is the fastest growing service offering for carriers around the world.

Technical aspects and evaluation results of OAM implementation will be presented by KDDI R&D Labs at the annual OFC/NFOEC Conference in Anaheim, CA on Wednesday March 8th from 4:00pm to 5:00pm. The presentation, "Demonstration of Ethernet OAM Functionality for Management of Layer 2 Switches Connected to Resilient Packet Ring Equipment in Metro Area Networks" covers the latest developments in KDDI's evaluation of implementing Ethernet OAM on their metro RPR rings.

"We are working to provide the latest and most comprehensive suite of Ethernet management offerings available in transport network elements," said Gady Rosenfeld, Vice President of Marketing for Corrigent Systems. "The lack of Ethernet OAM is often viewed by carriers as an impediment to even faster growth of Ethernet services. We now deliver on our CM-100 product line the set of Ethernet OAM tools that guarantee carriers' SLAs, as committed to their customers."

The new Ethernet OAM functions now offered over Corrigent's CM-100 Product Line, in combination with RPR and SONET/SDH OAM tools, make the CM-100 unique in its class, providing operators the unprecedented capability to monitor and guarantee both Ethernet and TDM services on their networks.

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 Packet Transport product line integrates the traffic management and control of RPR and MPLS and eliminates the need for multiple transport elements. CM-100 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.

http://biz.yahoo.com/bw/060307/20060307005133.html?.v=1

Dubi

Orckit Announces Executive Participation in Six-Year Variable Forward Transaction

Tuesday March 7, 7:30 am ET

TEL AVIV, Israel, March 7 /PRNewswire-FirstCall/ -- Orckit Communications Ltd. (Nasdaq: ORCT - News) announced today that it has been informed by Eric Paneth, the Company's Chairman, CEO and a Director, and Izhak Tamir, the Company's President and a Director, that each of them has entered into a "Variable Forward" ("VF") transaction with Credit Suisse Capital LLC relating to up to 420,000 ordinary shares of the Company. The VF transaction is essentially the forward sale of a portion of the shares held by Messrs. Paneth and Tamir.

The maximum number of shares involved in this transaction for each of them represents approximately 2.7% of the Company's outstanding shares and approximately 25% of the respective holdings of each of Messrs. Paneth and Tamir, including shares issuable upon exchange and exercise of vested and unvested options held by them.

The VF transaction will mature in 2012 and will provide Messrs. Paneth and Tamir with the ability to benefit from future upside appreciation in the Company's share price, up to an agreed amount, while also providing each of them with protection against decreases in the Company's share price through 2012.

At the maturity of the VF, Messrs. Paneth and Tamir may each elect to retain their shares in the Company and settle the VF contract with cash.

As required by United States securities laws, Mr. Paneth and Mr. Tamir have each filed a Form 144 with the Securities and Exchange Commission in connection with the VF transaction.

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/060307/nym130.html?.v=27

Dubi

Shorts have control Today!
Someone shorted 50,000 shares at the open today.
I counted 50,000 more ready to sell short at slightly higher prices, be careful out there.
Zaphod

Orckit's dream year: 800% revenue growth in 2005 to $101 million

21.2.06 | 19:43 By Shirley Yom-Tov

The financial statements that Orckit Communications (Nasdaq: ORCT) delivered for the last quarter of 2005 has little news for investors, but the communications equipment provider leaped past Wall Street expectations and its own guidance dating from October 2005. It also presented a remarkable 800% increase in revenues to $101 million for the year.

For the fourth quarter of 2005 Orckit reported $33.4 million revenues and net profit of $7.6 million or 45 cents per share.

The average forecast among three Wall Street analysts had been for $32.1 million revenues and 41-cent earnings per share.

For the year 2005 Orckit reached $101.2 million revenues and profit of $22 million or $1.30 per share. In the year before it made revenues of $11.3 million and lost $20.1 million. One could call it a dream year for Orckit and its shareholders.

Orckit stock from 2004: Phenomenal returns

If analysts had hoped that Orckit would raise its guidance, or reveal new customers, well, it didn't. The company, led by Itzik Tamir, repeated guidance dating from October 2005 of $125 million revenues in 2006, and net profit of $25.8 million or $1.50 per share.

Orckit also expects a significant slide in the first quarter against the fourth, but then analysts expected that. It projects revenues of $24 million and $3.8 million net profit, or 22 cents per share. The average forecast on the Street is $23.7 million revenues and 20-cent earnings per share.

http://www.haaretz.com/hasen/spages/685586.html

Dubi

Orckit reports $22.2m net profit for 2005
Revenue for 2005 was $101.2 million compared to $11.3 million for 2004.

Globes correspondent 21 Feb 06 16:18

Orckit Communications (Nasdaq: ORCT; TASE: ORCT) today reported results for the fourth quarter and year ended December 31, 2005.
Revenue in the fourth quarter of 2005 was $33.4 million compared to $8.6 million in the quarter ended December 31, 2004 and $25.4 million in the third quarter of 2005.

This exceeds analysts' consensus of $32.1 million revenue for the fourth quarter of 2005.

Net profit for the quarter ended December 31, 2005 was $7.6 million, or $0.45 per diluted share, compared to a net loss of $2.9 million for the quarter ended December 31, 2004 and net profit of $7.6 million, or $0.45 per diluted share, for the third quarter of 2005.

Results for the third quarter of 2005 included 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.

Excluding this capital gain, net profit for the quarter ended September 30, 2005 was $5.2 million, or $0.30 per diluted share.

Net profit for 2005 was $22.2 million, or $1.30 per diluted share, compared to a net loss of $20.1 million, or $(1.54) per share, for 2004.

Revenue for 2005 was $101.2 million compared to $11.3 million for 2004.

Orckit president Izhak Tamir said, "Our results for 2005, which include record profitability, were driven by the nation-wide deployment of Corrigent's CM-100 product line by KDDI in Japan. This deployment ramped throughout the year and we expect deployment to continue in 2006. Based on the initial success of KDDI's Metal Plus and Hikari Plus service offerings, which are supported by our CM-100 products, we believe that our relationship with KDDI will expand as they roll out new IP services."

For the quarter ending March 31, 2006, Orckit expects revenue of approximately $24.0 million and net income of approximately $3.8 million, or $0.22 per diluted share.

For the year ending December 31, 2006, Orckit expects revenue of approximately $125 million and net income of approximately $25.8 million, or $1.50 per diluted share.

Published by Globes [online], Israel business news - www.globes.co.il - on Tuesday, February 21, 2006

http://www.globes.co.il/serveen/globes/docview.asp?did=1000063895&fid=942

Dubi

Phenomenal growth for Marvell and Orckit
Will Orckit announce an important deal in the East that could delay publication of its financials?

Shlomi Cohen 21 Feb 06 14:39

Of the companies I have been closely following, Orckit Communications (Nasdaq: ORCT; TASE: ORCT) is set to publish its results on Tuesday before the start of trading, with Marvell Technology Group (Nasdaq: MRVL) publishing its results following the close of trade on Thursday. I admire the former and would like to admire the latter but am somewhat wary in light of the company’s high multiples. What both companies have in common, at least with regard to the last quarter, is that they both are expected to report profit of $0.41 per share and phenomenal growth. But this is as far as the comparison goes, since Marvell stock is trading at $0.64 a share while Orckit trades at $0.28 only.
Marvell has reported growth for 32 consecutive quarters, while Orckit, in its new reincarnation as Corrigent Systems, has come to prominence due to its strong growth during the first three quarters of 2005. This difference has led investors to give Marvell a profit multiple of 47 and sales multiple of 12, both of which are for the past year, while the multiples for Orckit are less than half those of Marvell, despite the parity in profit per share in the last quarter and the strong growth for both companies.

I expect that if Orckit continues to surprise, institutional investors will join it at some point during 2006, thereby boosting its multiple with the share price rising substantially as a consequence. As regards tomorrow’s results, I am curious to know what caused the Orckit management to push their way to the end of the queue of companies reporting for the fourth quarter as I personally have always admired them for their policy of filing immediate reports. In the last two years it has reported on January 27 while in 2003 it had already filed its report on January 16.

Because I am assuming that Orckit’s financial systems have only improved with the passage of time, my guess is that the company deliberately postponed publication until today, in the hope that it will be able to announce a substantial contract that will in turn enable the guidance issued back in November to be to revised for 2006. We will learn today whether it has succeeded or is on the verge of winning another contract like the one with KDDI. Although investors’ sights are set firmly on the Japanese market, I expect the Indian market to be the one providing the surprises where the Orckit contract is concerned.

Published by Globes [online], Israel business news - www.globes.co.il - on February 21, 2006

Next article: Week 262 - The Cohen Porfolio

http://www.globes.co.il/serveen//globes/docView.asp?did=1000063807&fid=1176

Dubi

Orckit Communications Reports 2005 Fourth Quarter and Full Year Results

Tuesday February 21, 8:30 am ET

TEL AVIV, Israel, Feb. 21 /PRNewswire-FirstCall/ -- Orckit Communications Ltd. (Nasdaq: ORCT - News) today reported results for the fourth quarter and year ended December 31, 2005.

Revenues in the fourth quarter of 2005 were $33.4 million compared to $8.6 million in the quarter ended December 31, 2004 and $25.4 million in the previous quarter ended September 30, 2005.

Net income for the quarter ended December 31, 2005 was $7.6 million, or $0.45 per diluted share, compared to a net loss of $(2.9) million, or $(0.22) per share, for the quarter ended December 31, 2004 and net income of $7.6 million, or $0.45 per diluted share, for the previous quarter ended September 30, 2005. Results for the quarter ended September 30, 2005 included 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. Excluding this capital gain, net income for the quarter ended September 30, 2005 was $5.2 million, or $0.30 per diluted share.

The weighted average number of shares used in these calculations was 16.8 million for the quarter ended December 31, 2005, 13.1 million for the quarter ended December 31, 2004 and 17.0 million for the quarter ended September 30, 2005.

Revenues for the year ended December 31, 2005 were $101.2 million compared to $11.3 million for the year ended December 31, 2004. Net income for 2005 was $22.2 million, or $1.30 per diluted share, compared to a net loss of $(20.1) million, or $(1.54) per share, for 2004. The weighted average number of shares used in these calculations was 16.6 million for the year ended December 31, 2005 and 13.1 million for the year ended December 31, 2004.


Key highlights for the quarter:

- Product deployment by KDDI Japan 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. KDDI is expected to
continue increasing its subscriber base for advanced wireline and 3G
wireless service offerings, utilizing Corrigent's CM-100 packet ADM
across its metropolitan area network.

- Live traffic was carried for the first time over WilTel's RPR network.
Orckit expects to recognize initial revenues from WilTel in the first
quarter of 2006.

- Corrigent announced that it has opened an office in Mumbai, India to
address rapid telecommunications infrastructure developments in the
region. The opening of this office complements the expansion of
Corrigent's sales and marketing efforts in the Japanese, Korean and U.S.
telecommunications markets.

- Corrigent participated in the 6th Fiber Optics Expo in Japan, Asia's
largest exhibition specializing in fiber optic communications and
Japan's largest technical conference devoted to optical communications.
The growth in cellular TV subscribers over 3G wireless networks and HDTV
triple play services transmitted over fixed line networks is expected to
increase the need to upgrade metro networks with optimized packet
multiplexing capabilities, such as those offered by Corrigent's CM-100.

Izhak Tamir, President of Orckit, commented: "Our results for 2005, which include record profitability, were driven by the nation-wide deployment of Corrigent's CM-100 product line by KDDI in Japan. This deployment ramped throughout the year and we expect deployment to continue in 2006. Based on the initial success of KDDI's Metal Plus and Hikari Plus service offerings, which are supported by our CM-100 products, we believe that our relationship with KDDI will expand as they roll out new IP services."

"Interest in the CM-100 continues as carriers introduce plans to offer enhanced IP services over both wireline and wireless networks. To provide optimized support for such applications, full convergence of packet and TDM services on the metro network is required. Our CM-100 is a leading solution to meet the emerging needs of carriers in this area."

Mr. Tamir concluded, "We continue to innovate and enhance Corrigent's CM-100 packet ADM, adding capabilities that allow for the support of "quadruple play" services. In addition to HDTV, VoIP and data services over fixed line networks, our solution also offers state of the art support for TV over cellular services, all over a single converged platform. As demand for these services grows, we expect that demand for the CM-100 platform will increase, reaching a broader range of telecommunication carriers for a variety of applications. Product evaluation activity is strong and we expect to turn these trials into commercial sales."

Outlook and Guidance

First quarter 2006 guidance:

For the quarter ending March 31, 2006, Orckit expects revenues of approximately $24.0 million and net income of approximately $3.8 million, or $0.22 per diluted share.

Year 2006 guidance:

For the year ending December 31, 2006, Orckit expects revenues of approximately $125 million and net income of approximately $25.8 million, or $1.50 per diluted share.

Conference Call

Orckit Communications will host a conference call on February 21, 2006, 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 February 28, 2006 at 11:59 p.m. at 1-877-519-4471 in the United States and 1-973-341-3080 internationally. To access this replay, enter the following code: 6880596.

http://biz.yahoo.com/prnews/060221/nytu105.html?.v=39

Dubi

That is true, the 'pie' is to be larger as another
(second) client added.

It is quite 'old' news.

Regards,

Dubi

In the Thomas Weisel Conference the CFO made a statment that went something like this..."as the year goes on KDDI will be a smaller percentage of overall sales"

In the context it actually seemed as though KDDI was going to be spending just as much money, but he was expecting revenues from somewhere else. Did anybody else pick up on this?
zaphod

Orckit menitoned in the Oberweiss newsletter on Zacks.com!

Anyone making guesses on Earnings for '06 for the conference call on Tuesday?

Here's mine:
140mil rev.
(100 from KDDI and 40 from Wiltel)
1.60 share net income

Zaphod

Unterberg: Orckit's decline is buying opportunity

"KDDI, Orckit's largest customer, continues to spend aggressively."

Globes correspondent 7 Feb 06 19:24

CE Unterberg, Towbin analyst Rich Church advises investors to take advantage of the recent weakness in Israeli company Orckit Communications (Nasdaq: ORCT ; TASE: ORCT).
"In recent days, the stock has declined from $31 to $25, about 19%. While the stock is highly volatile and speculative, we believe the pullback presents a buying opportunity," Church's report says.

"We believe weakness may be related to concerns over capital spending trends in Japan…

"…Our checks indicate that KDDI, ORCT's largest customer, continues to spend aggressively. KDDI yesterday said it planned to obtain a controlling stake in Japan Cablenet, Japan's second largest cable TV company with about 500,000 cable TV subscribers. KDDI said it plans to offer one-stop mobile phone, Internet, and video services to the customer base. We believe this would benefit ORCT, as KDDI's converged network is based on ORCT CN-100 product.

"Valuation remains attractive at 17x our 2006 EPS estimate of $1.49, or 15x, adjusting for cash/interest. The company has $5.92 per share of net cash on the balance sheet."

Published by Globes [online], Israel business news - www.globes.co.il - on February 7, 2006


Dubi

Orckit Communications to Present at the Merrill Lynch Communication Forum In New York
Tuesday February 7, 8:30 am ET


TEL AVIV, Israel, Feb. 7 /PRNewswire-FirstCall/ -- Orckit Communications Ltd. (Nasdaq: ORCT - News) today announced that the Company's management is scheduled to present at the Merrill Lynch Communication Forum at the Grand Hyatt Hotel in New York on March 1, 2006. The Company will be hosting a series of group breakout sessions, beginning at 1:45 through 4:00 PM EST.
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: www.Orckit.com


http://biz.yahoo.com/prnews/060207/nytu102.html?.v=41

Dubi

Wed: If Silicom can
Companies such as MindCTI have every chance of emulating Silicom's stock market success.

Shlomo Greenberg

What makes an investment successful? What causes shares to rise the way Orckit Communications Ltd. (Nasdaq:ORCT; TASE:ORCT) and Silicom Ltd. (Nasdaq:SILC) have done? After all, the trio of Mind CTI Ltd. (Nasdaq: MNDO; TASE:MNDO), Eltek Ltd. (Nasdaq: ELTK), and Top Image Systems Ltd. (Nasdaq: TISA) have raised sales and become profitable the same way the other two did. Not on the scale of Orckit, it’s true, but definitely on the scale of Silicom.
On Monday, Silicom published its financial report for the fourth quarter of 2005 and the year as a whole. The results were astonishing, compared with the past, and with investors’ expectations at the low point in 2002. Silicom’s share justifiably rose 15% to give a market cap of $33 million. This small Kfar Saba-based company’s success in emerging from a crisis that threatened its very existence and turning into an apparently thriving business is amazing.

If Silicom is compared with the other shares mentioned above, the question arises, why haven’t they risen in the same way? Please understand, I’m not surprised that Silicom rose to a price better reflecting its value. I’m surprised that the others have not.

Mind CTI, for example, started out at $0.89 per share in October 2002, and is now worth $3.30. The company posted a profit of $330,000 on $10.8 million revenue in 2002, a profit of $3.6 million on $13 million revenue in 2003, and a net profit of $6.8 million on $17.8 million revenue in 2004. In 2005, it is expected to post a large profit on over $20 million.

True, Mind CTI’s profits and sales for the third quarter fell slightly, compared with the second, but that was corrected in the fourth quarter, at least according to the company’s guidance. How much is Mind CTI worth today on Wall Street? $71 million, including $41 million cash at the end of the third quarter (after acquiring US company Sentori Inc. for $5.1 million in cash).

In other words, the market cap for Mind CTI’s business is $30 million for a company with a net profit of $7 million. Why does this happen? After all, it is unimaginable that someone wanting to acquire this company would pay $71 million for it. That number might be alright on Wall Street, but not on Main Street.

Why do I expect Mind CTI’s share to do something like Silicom’s did? Because Mind CTI emerged from crisis with a lot of cash, and it’s in a business that has started to gather pace. Moreover, the company has begun to distribute dividends. But that's life. Silicom's stock market performance outdid Mind's in early 2006, and by a wide margin. Remember, in October 2002 Silicom was considered a corpse: no money, no product that we knew about, no market, and with nothing to interest the serious investor. I bought the share at the time, because I reckoned I couldn't lose much at $0.20 or $0.30 a share. If the technology exists, and management knows what it’s doing, the risk at that price is pretty small.

So what should one do in 2006? In terms of economic value, all the shares I’ve mentioned are in more or less the same situation. Let’s look at MER Telemanagement Solutions Ltd. (Nasdaq: MTSL), and see what it has to offer. The company has a lot of customers, a long history of technological development and accumulated know-how, and it’s under new management.

What is happening here resembles what happened to Attunity (Nasdaq: ATTU), Mind CTI, Top Image, BOS Better Online Solutions Ltd. (Nasdaq: BOSC; TASE:BOSC) and others companies that survived the crisis of 2001-02. They survived with enough strength to go on and find their places in their respective niches. All their niches are huge, so a large part of the companies’ potential depends on the current state of their management. The most interesting thing here is that even Silicom, which has provided a large percentage return since 2002, is still far from fulfilling its potential. Silicom, like the others, depends entirely on its management to lead it in 2006 the same way it led the company in 2004 and 2005.

What is the conclusion? There is no point in selling any of these shares at the moment, because nothing real has happened since October 2002, and if anything did, it was only for the better. Nevertheless, anyone who bought shares in the likes of Orckit, Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN; TASE: ALDN) or Silicom in 2002, and has not yet sold some of them, either has nerves of steel or is an irredeemable optimist.

I now own about half the Silicom shares I held in 2002, despite my considered view that this company is only at the starting gate. Anyone who understood this logic could be a licensed investment advisor.

Published by Globes [online], Israel business news - www.globes.co.il - on February 1, 2006

http://www.globes.co.il/serveen/globes/docview.asp?did=1000057046&fid=1052

Dubi