Cadence Design Systems 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 : Cadence Design Systems

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: orkrious who wrote (491)	8/15/1999 11:17:00 PM
From: Carl R.	Read Replies (2) of 668

Unlike some threads there aren't a whole lot of posts on this one, so going back and reading forwards from April won't take that long. Here are a few posts you might want to read: Message 9072402 Message 9080881 From this post of a NY Times article we get: Jack Harding, president and CEO of Cadence, said the company decided to rebuild backlog that was eaten up in 1998 because Cadence's services business was underperforming. And as if that weren't enough, we also get: "We used a tremendous amount of backlog in 1998 to make our bottom line, to account for the under-performing services business," said Harding. My understanding is that this was an admission that they used up their backlog to hide the weak performance of the service business. Note that the President and CEO is now Ray Bingham, not Jack Harding. Message 9166830 Also in that NY Times article you will note that CDN makes the absurd claim that people aren't buying at .18µ yet. The reaction of Wall Street is summed up: If analysts were emotional, surprise was definitely a factor. "They committed one of the two cardinal sins on Wall Street -- their guidance changed materially," said Erach Desai, analyst at Credit Suisse First Boston. Carl

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next