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Strategies & Market Trends : The Amateur Traders Corner

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To: Paul Kern who wrote (5387)	1/18/2001 8:08:00 AM
From: Tom Hua	Read Replies (4) of 19633

Paul, EFNT reports a loss of 0.12, revenue declined sequentially from $127 million to 102 million. What's most damaging to the company's execution is its huge inventories buildup. Inventories jumped from $30 million in the Sept quarter to $94 million. You know what that means, the company built the products in anticipation of orders from its 2 major customers which accounted for 37% of revenue in the Sept quarter. But the customers didn't want the products for whatever reasons. So now it has all these products sitting there gathering dust, and will have to be written down next quarter. The company boasted more than $436 million in cash. What it failed to say was that most of that ($400 million) was from debt issued in convertible bonds. biz.yahoo.com Regards, Tom

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