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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: Greg h2o who wrote (38927)5/8/2002 6:28:13 PM
From: akmike  Read Replies (3) of 42804
 
Hi Greg,

Please run the accounting treatment by me where CSCO is giving a purchaser of new equipment a discount of 70% off the full price for a trade in of old equipment and booking the revenue based on the full price.

For the life of me I cannot put together an accounting scenario which would yield CSCO the 62% gross margins that they reported yesterday and still allow this kind of discounting. They would have to be "counting" revenues and "not counting" costs; this would seem to be "discounting" GAAP.
Pretty dangerous stuff in this day and age!
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