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Technology Stocks : Flextronics International (FLEX)
FLEX 64.00+1.8%10:54 AM EST
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To: patroller who wrote (1338)4/5/2001 12:27:27 PM
From: Sam  Read Replies (2) of 1422
 
Patroller,
It is tempting to buy FLEX at this level. However, aren't you concerned at all about their balance sheet? Consider the following items (cf. siliconinvestor.com for the following figures in a chart format):


			Dec 99		Dec 00
Cash & ST inv.	$472m			$398m
Receivables	 462m			 1,634m
Other current
	assets	  645m			 2,067m

Accts Payable	 610m			 1,500m
ST debt		  177m			 718m
Other curr
	liab.		125m			 556m

LT debt		  233m			 930m
Other LT liab.	 16m			 84m


Those are selected items from their balance sheet. I am especially worried about the buildup of debt and receivables, particularly in conjunction with the decline in cash and ST investments. Could they have bitten off more than they could chew with all of their acquisitions over the past 2 years? Some of their biggest customers--e.g. MOT, ERICY--are hurting badly. I worry about a financial crunch. Tell me something to allay those worries.

Regards,
Sam
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