Enron Corp. - University of California | Office of The President

eported progress against every operating metric set forth earlier this year. A great
quarter.
• Enron was very pleased with its first quarter results. Enron was excited about the
continuing positive business developments across all of Enron for 00. Enron's
1stQ earnings confirmed the strength of its operations and the excellent
momentum it had in its high growth businesses. Enron had established networks
worldwide to provide continued strong performance and expansion opportunities
for all of its businesses.
• A great quarter for Enron. Enron looked forward to further growth in earnings
and an increased market cap in the future.
• Enron was forecasting 00 and 01 EPS of $1.37 and $1.56+.
225. On 4/12/00, Bloomberg News reported on Enron's 1stQ 00 results:
Enron ... said first-quarter earnings rose 34 percent ....
Net income increased to $338 million, or 40 cents a share, from profit from
operations of $253 million, or 34 cents, a year ago.... "They have a track record that
others don't," said Anatol Feygin, an analyst at J.P. Morgan Securities, who has
a "buy" rating on Enron shares....
226. On 4/12/00, Merrill Lynch issued a report on Enron. It rated Enron a "Buy" and
forecast 00 and 01 EPS of $1.37 and 1.56 and an 18% five-year EPS growth rate for Enron. It also
stated:
• We are reiterating our intermediate-term and long-term Buy opinions.
ENE posted very impressive 1Q'00 results, which should further strengthen
momentum.
* * *
• For 1Q'00, revenue was up 72%, operating net income was up 28% and EPS
was up over 17%.
* * *
Enron also provided the first glimpse of Enron Broadband Services. For the quarter,
the segment was breakeven due to fiber and software sales.... In addition, EBS is
well ahead of goals set in January in terms of bandwidth intermediation volumes.
EBS has already delivered or committed to deliver 85% of its targeted
intermediation volumes for the full year.
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