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Technology Stocks : Mylex
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To: E_K_S who wrote (1807)7/29/1999 11:22:00 AM
From: James B. Barnes  Read Replies (2) of 1820
 
One more thing. How about that earnings release. It was getting to the point that I could have written their earnings (or non-earnings) releases in my sleep. They've sounded like a broken record for a long time.

There's one thing I wonder about. I suspect IBM told them to clean the decks in terms of getting their balance sheet in shape. No need of having to write off worthless inventory and A/R after the merger takes place, hurting IBM's performance.

Also, IBM looks to have gotten a pretty good deal. If you subtract the book value per share (provided it's accurate) from the purchase price per share you're left with IBM paying roughly $1.00 for each $1.00 of revenue.

James
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