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November 16, 2000
CUPERTINO, Calif. -- Packeteer(R),Inc. (NASDAQ: PKTR), a leading provider of Internet applicationinfrastructure systems, today said that despite a Bear Stearns analystreport to the contrary, Packeteer's relationship with Intel'sNetstructure division will not be affected in the near term by Intel'sannounced restructuring of its Netstructure division.
Packeteer and Intel entered into an OEM reseller agreement inJuly, through which Intel's Netstructure division would buyPacketeer's PacketShaper(R) and AppVantage(TM) platforms for internaluse and for sales as the Intel brands 7340 Traffic Shaper and 7370Application Shaper through Intel's distribution channels. Intel hasinformed Packeteer that despite a restructuring in the Netstructuredivision, through which the division will migrate to an OEM model,Intel will continue to buy and deploy Packeteer's products.
Packeteer does not expect any impact on forecasted fourth quarterproduct revenues, despite the Intel Netstructure restructuring.Packeteer remains comfortable with existing published estimates of $13to $14 million for the fourth quarter, translating to pro formaprofits of two cents per share. Packeteer also remains comfortablewith published revenue and earnings estimates for 2001.
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