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Strategies & Market Trends : Sharck Soup

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To: Wes Stevens who wrote (31162)	7/18/2001 12:24:28 AM
From: milesofstyles	of 37746

probably becomes a common occurrence going forward. arba has written off 50pct of intangibles in last 2 qtrs. would have to believe there alot of co's with same bloated intangible accounts after considering what was paid for them at bubble prices.probably anyone with a merger during that period. i think the sec has given co's six months to assess assets. cmrc carries a large intangible account. considering 2.5b vs 115m in plant and equipment. not a jdsu but still seems like a lot when you look at it that way. the effect on arba seems a reduced book value from 14.14 to 5.59 with 1.2b remaining as of last qtr. hit the income stmt as non operating expense. arba eps show -7.60 loss. i think for those thinking/speculating of buyouts on stocks should probably consider the effect of this type of account as well as long term debt considerations. can't imagine a company being a buyout candidate with a plant/intangible ratio like that. what are you buying for your money ? past mgmt mistakes? write'm off, lol. was reading a few articles the last week or 2 on arba, cmrc. seems sap pumped money into cmrc, upped stake to 20pct. apparently, sap doesn't buy everyone they stake.both these stocks seem to fit the viable product category allegedly.but when i ran the fundies for a friend on them, arba looks strapped. there were analysts comments recently that i would tend to agree with regarding cash(did i say that? eesh). sales were cut in half, and alot of receivables collected/reduced. both have minimal long term debt. arba's "capital surplus" would have to be investigated further. but it makes ya wonder if arba is "cleaning the balance sheet", for sale or to meet sec requests. justthinkingov

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