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Technology Stocks : Quickturn (QKTN)
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To: Andrea Bornschlegel who wrote (89)4/11/1997 11:11:00 AM
From: Mike Chen   of 251
 
Thank you for pointing out their decline in margins. The 'ruse' I alluded to is a construct propounded by California Technology Stock Letter. It is called "growth flow" which is likened to "cash flow" where return of capital - depreciation - is added to earnings to get a measure of funds available to the common shareholder. "Growth flow" is for technology companies - adding R+D per share to earnings per share.
To quote CTSL: "The idea is that earnings are what the shareholder gets today, and R+D is what will pay the shareholder tomorrow." Then CTSL goes on to define "Great Growth Flow" companies, and I won't bore you with those defintions.

Mike
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