By IPO standards, WJ Communications is quite old. The company was founded in 1957 and was originally a developer of microwave devices for the defense and space industries. Of course, these industries have not been hot - so WJ Communications has been shifting.

Now, the company is cutting-edge, with products geared for fiber optics, broadband and wireless. Basically, the company is a leader in RF (radio frequency) technology, which allows for the rapid transmission of voice, video and data traffic. In all, the company has more than 50 customers, including Lucent and Nortel Networks.

The lead underwriter is Chase H&Q and the price range is $14-$16 (the company plans to issue 5.4 million shares). The proposed ticker symbol is WJCI.

Another hot one should be Integrated Telecom Express. This company, too, is an infrastructure play. Essentially, Integrated Telecom Express develops integrated circuits and software solutions for high-speed access providers. The technology - products include Apollo and SAM - make it easier for companies to get to market much faster, as well as providing high-quality service.

The outlook is bright. Customers include Alcatel Bell, Bo Sung Hi-Net, Hundai Teletek, Interlink, Nokia, Samsung, Turbo Comm, and Xpeed.

The lead underwriter is Lehman Brothers and the proposed ticker symbol is ITXI. The company plans to issue 5.6 million shares at the price range of $17-$19.

Finally, watch out for Lexar Media. The company makes high performance digital "film" (which is really a high performance digital storage device) for cameras. The products are easy to use and compatible with the top manufacturers, such as Casio, Fuji, Nikon, Sony, Kodak and so on. In fact, the company has been able to get 23 patents on its technology.

The digital photography sector is booming and so are the company?s financials. For the first six months of 2000, revenues were $40.8 million, which was an increase of 341.9%. But losses were $10.9 million.

To achieve the sales gains, the company has been able to strike distribution deals with Ingram Micro, Kodak, Tech Data, and Impact Peripherals.

The lead underwriter is Chase and the proposed ticker symbol is LEXR. The company plans to issue 6.5 million shares between the price range of $11-$12.

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