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Technology Stocks : Avid Technology

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To: Wilson Chao who wrote (213)	4/24/1997 10:28:00 AM
From: David Kuspa	of 777

Wilson, the cash build up came from reducing Accounts Receivable by $16.3M, and by lowering inventory by $4.2M, for a total of $20.5M. Now throw in the $14.8M infusion of cash from Intel, and the fact that Account Payable this quarter are up significantly, by $8.6M, for a grand total of $44M. I applaud Avid's efforts to bring their expenses in line with revenues. Apparently they have strung out payments to suppliers so they would look even better this quarter. You can do a lot with cash while you have it. The quarter to quarter revenue decline is still a warning flag, IMO. Yes, this current quarter will no doubt be much better due to NAB orders, but this is a lot of excitement over $0.08/share, and I believe this stock is way ahead of itself. D. Kuspa

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