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Technology Stocks : Network Associates (NET)

NET 196.20

-0.1%

Nov 19 3:59 PM EST

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To: Conan who wrote (5540)	7/22/1999 4:03:00 PM
From: Chuzzlewit	Read Replies (5) of 6021

Conan, I have looked in vain for a balance sheet for Q2. The fact that they have not released it (or hidden it well -- I have not found it on their website) is a further indication to me that NAI is playing fast and loose with shareholders. The huge drop in revenues was supposed to be explained by a large decrease in the channel inventory, but with company statements like 8 - 12 weeks in the channel it is doubtful that much of the inventory disappeared. I would like to see the A/R and cash numbers. It would also be interesting to see how much inventory they are carrying. While I could have gotten a couple of dollars more per share had I held a few more weeks, I am glad to be out of this stock. I simply don't trust Larson, nor do I trust NAI's accounting. Good luck to all of you longs. I am well rid of this company. TTFN, CTC

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