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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Larry S. who wrote (39995)	5/29/2002 6:47:42 AM
From: Joe Stocks	Read Replies (1) of 53068

Merrill says finds one yellow flag in Cisco's 10Q (CSCO) By Emily Church Merrill Lynch told clients it found "no major alarms" in Cisco' accounting practices, but the broker said it did "find one flag in the document." Cisco Systems (CSCO) filed its 10Q with the SEC late Tuesday. Cisco's allowance for doubtful accounts is at record levels at 7 percent of quarterly revenue even as accounts receivables decline and revenue has been steady, Merrill notes. It means that around a quarter of all Cisco's accounts/receivables are reserved for. Merrill said the doubtful account bears watching, but keeps a mid-term buy rating on the stock. "It is not necessarily negative that this account is large, just something to monitor for futures earnings quality," Merrill said. Cisco was off 23 cents at $16.15 in euro trading.

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