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Technology Stocks : John, Mike & Tom's Wild World of Stocks
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To: John Pitera who started this subject4/27/2001 2:11:15 PM
From: Logain Ablar  Read Replies (1) of 2850
 
John:

re CORV. I haven't listened to the cc but from looking at the earnings report the negatives I mentioned will come into play all this year. The good news is the company is projecting to have $600m cash by year end. The bad news is this is only a moderate slow down in the burn rate from last quarter to the 4th. Even though they had a good sales # with the increase in inventory, drop in cash and increase in dso's & increase in liabilities the balance sheet is deteriorating.

The problem with so much cash is it gives management a false sense of security. They keep expanding for future growth areas but until they revenues / profits come in the balance sheet can only get worse. I see the stock revisiting its low with a potential of breaking it depending on the market and sector.

Company indicated they won't be profitable till next year and lower sales next q. We'll we all know how the market doesn't want dead money and we can see the exodus today.

Tim
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