Skeeter, I haven't looked at revised projections since they reduced guidance, but they cut back spending at the same time, so they do have some control over the burn. Previously, breakeven was projected for the end of '02, if memory serves, and they had much more than enough cash to get there.
When they warned on 9/10, they had a conference call and I think they addressed these questions, I just don't remember the specifics. I'm not sure that the breakeven point should necessarily be push out in time, though. The near-term qtrs are slower than previously expected, but that is not necessarily indicative of conditions a year and a quarter from now. Most economists have been suggesting that the 9/11 events accelerated the economic decline, but that the recovery will likely also be accelerated (as opposed to the wide "U", more of a "V" - but I don't want to get into an economic forecasting debate).
There should still be a link to the replay on their IR page. When I have time to listen to it again, I can be more helpful. Sorry.
Bob |
