Network Associates (NET) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Network Associates (NET)

NET 198.89

+1.4%

10:52 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Joanna Tsang who wrote (5591)	7/27/1999 7:02:00 PM
From: Just_Observing	Read Replies (2) of 6021

Here are the details: From the street.com and Herb Greenberg "Two to tango: Two peas in a pod? Takes one to know one? Birds of a feather? The cliches are endless, but can ya blame me? I mean, we're talking Network Associates (NETA:Nasdaq) disclosing that it's taking a $31.8 million reserve against the possibility of not being able to collect on the sale of software to international distributor CHS Electronics (HS:NYSE). Neither of these companies is a stranger to this column. CHS was walloped after acknowledging accounting improprieties; Network Associates was recently chastened by the SEC after engaging in so-called "honey pot" accounting. Short-sellers have long alleged that the company stuffs the channel with too much inventory. Now we learn that Network Associates found a willing buyer of its merchandise in CHS, where software sales last year accounted for a mere 11% of sales. Neither CHS nor Network Associates officials would discuss yesterday why CHS might not be able to pay for the software, though it has been largely assumed that CHS is running low on cash. "

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next