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Technology Stocks : LEGATO SYSTEMS LGTO
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To: Edwarda who wrote (906)4/3/2000 11:29:00 AM
From: Chuzzlewit  Read Replies (7) of 1138
 
Assuming that this is a clean number:

The Company estimates that its revenue for the first quarter ended March 31, 2000 will be in the range of $54 million to $56 million.

this means that revenues for the quarter will be up by around 15% yoy -- not exactly a barn burner quarter. But since revenues for Mar 99 were not restated, we may be comparing apples to oranges. Nevertheless, I think that the revenue projection is disappointing. Do you know where the street had estimated revenues for the quarter?

A second very important point for those of us that are long: reclassification of revenues in no way alters cash flow. Assuming that fraud in cash accounts is not an issue, I view this melt-down as an additional buying opportunity. Indeed, I sold more puts this morning.

I guess at this point my fingers are crossed (along with other parts of my anatomy).

TTFN,
CTC
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