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Technology Stocks : Proteon
PTON 7.460-0.1%Nov 12 3:59 PM EST
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To: Richard N Lambert who wrote (48)11/18/1996 12:40:00 PM
From: Dan Berger   of 512
 
>> Their account receivable went from $6.7M to $9.5M.

Because Proteon sells predominantly through two-tier
distribution, this sharp increase in receivables is only
indicative of sales made to their distributors at the tail
end of Q3.

This could be a warning sign. If these products are not
"sold thru" to end-users, they'll have too much in inventory
to purchase any more products in Q4.
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