Scott Coleman Share Quotations

We would get more constructive on shares on supply chain improvements and a pickup in the wireless business. Conversely, our outlook would worsen on margin deterioration and market share losses in the optical and enterprise businesses.

We recommend adding to positions on weakness as we expect the share gain and profitability improvement thesis to reaccelerate in 2006.

While we see limited downside to shares from here, an outlook based on a resumption of growth in the second half of fiscal 2006 raises concerns.