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Technology Stocks : General Magic
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To: John Madarasz who wrote (7881)2/2/2000 6:15:00 PM
From: equityanalyst  Read Replies (1) of 10081
 
Hi, John - Just wanted to amend my post #7877 regarding expectations for 4Q revenues/earnings. Having just read today's SEC filing, as you may have done also, GMGC is going to use percentage-of-completion accounting treatment for the $5 million GM payment. So instead of booking it all in 4Q 1999, they're going report only $300,000 and spread the rest (estimated at about $6 million) over the next six months. But that's fine, because instead of a big one-time lump sum, it gives us a nice smooth revenue stream in this year's first half, with GM and other revenues/royalties presumably kicking in and contributing to results in the second half and beyond. Perhaps we'll get some clarification on some of these issues on the conf. call.

ea
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