CDWC Message Board - Msg: 13895711

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Technology Stocks : CDWC

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To: snoop dog who wrote (151)	6/16/2000 1:59:00 PM
From: Sir Auric Goldfinger	of 189

Earnings always seem to surprise on the upside, too bad the cash flow from operations is 1/5th of what the company states as it's net income over the last 13 quarters (250 net income/ 54 operating cash flow). Furthermore, if you back out net option exercises which the Company puts in it's operating cash flow line (and put it into financing activities), the ratio of net income to what I think is more appropriate (so does FASB: they are holding meetings on the very subject as I write) one gets a ratio of net income to operating cash flow over the past 13 quarters of 44! (ie $250 M/$5.7 M). That, as anyone, who has ever taken accounting or financial statement analysis is ludicrous. The whole idea of financial statements is to fairly represent the true financial condition of the company. So I don't think this house stands for too much longer. And yes we are going to new highs based upon the BusinessWeek article Infomation Tech 100 and CDWC is #6, but then again, I need the upticks don't I? PS I suggest you guys start minding your K's & Q's by reading the fine print, there is a lot more to come.

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