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Technology Stocks : Sycamore Networks Inc-(SCMR)

SCMR 0.226

0.0%

Nov 30 4:00 PM EST

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To: Islander who wrote (1903)	2/15/2001 9:10:46 PM
From: bob zagorin	Read Replies (1) of 2249

Sycamore Networks says financing policies are conservative SAN FRANCISCO, Feb 15 (Reuters) - Optical networking firm Sycamore Networks Inc. <SCMR.O> said on Thursday that it is adopting conservative accounting policies, even as it tries to spur on demand for its products amidst slowing spending by telecommunications service providers. Chelmsford, Mass.-based Sycamore said on Tuesday after releasing its second quarter earnings that it is financing some sales to customers to remain competitive with other equipment suppliers. The company had reported better-than-expected earnings, but warned that sequential growth rates were slowing. Dan Smith, chief executive officer of Sycamore, told an audience of analysts at a technology investors conference held by Robertson Stephens that Sycamore's vendor financing arrangements are less risky than its peers. "We're not recognizing revenues until we get the cash," he said. Smith said that compared to the "billions" that other networking equipment vendors like Nortel Networks Corp. <NT.TO> and Cisco Systems Inc. <CSCO.O> are setting aside for uncollected and bad debts from its customers, "our approach is prudent". Sycamore was up $3-8/16 to $29-13/16 in early-afternoon trading on Nasdaq. The stock is down from its 52-week high of $199-8/16. 17:52 02-15-01

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