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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.76+2.5%3:59 PM EST
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To: H James Morris who wrote (129047)7/25/2001 11:33:24 AM
From: Glenn D. Rudolph  Read Replies (4) of 164684
 
"Monday's quarterly release also revived the question of how healthy the company's balance sheet is. Earlier in the year, a report released by Lehman Brothers bond analyst Ravi Suria questioned whether the company would be able to pay its bills as it seeks to become profitable. He predicted the company could face tighter credit terms from vendors.

That debate was on the back burner until Monday. The company said it would have $600 million in cash by the end of the third quarter, and $900 million by the end of the year. These were the same figures the company gave earlier in the year, yet it now needs the extra $100 million from AOL to reach those targets.

"This is obviously a significant miss," Van der Porten says. But what is more important -- and what the company is not revealing - is what the cash balance will be by the end of next year's first quarter, after it pays its bills from the holiday season. "They are not addressing at all what their cash will be by the end of March."

Working capital -- current assets minus current liabilities, which some say is a better measure of a company's creditworthiness -- fell to $161 million at the end of June from $559 million a year ago, Rowen noted in Tuesday's report. "

Excerpt from The Steet.com
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