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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 75.46-3.7%Nov 20 3:59 PM EST
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To: Ed Forrest who wrote (43050)11/7/2000 7:37:00 PM
From: bambs  Read Replies (2) of 77400
 
Your favorite "fiction writer" had some comments on csco

Fleck:

While there's been a whole host of stories written about the inferior quality of Cisco's earnings, there was a particularly good discussion on page A3 of The Wall Street Journal today. The problems with the numbers were as follows: sales were up about 12.7 percent sequentially, a little more than $800 million, but for some inexplicable reason inventories were up about 60 percent, or $700 million. To put that number in perspective, $70 million is the "vaunted" penny per share. In addition, receivables were up $588 million, also twice what revenues were up percentage-wise sequentially. What that means is that now DSOs (days of sales outstanding) are up to 74 days versus 43 days a year ago. This is certainly not something one would expect to see if everything was "perfectly clean."

So it's clear that balance sheet deterioration took place and these problems were responsible for casting a pall on the stock in the early going today. To read a more in-depth analysis at GrantsInvestor.com, click here. Folks will have to register to read the piece on the site -- Rap readers should use code 107201453. Of course, you'll get a great offer as well.

Bambs
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