I have the Worth blurb in front of me now: 9/97 Worth, "10 Stocks to Avoid" regular feature, p.46: Howard Schilit, who is actually "founder of Rockville MD based Center for Financial Research & Analysis," whose monthly research report is published and for more than 100 institutional clients. The blurb goes on to name CATP as a "recent Schilit discovery: artful accounting at CATP. By reclassifying A/R as prepd. expenses, the co. camouflaged the large growth in unpaid bills due from customers."
Bill, you pasted a portion of just the Cash flow statement, not the balance sheet. I'll look at it when I can, but haven't looked at it yet closely myself; I'm not long CATP or SFE now. But, given that this guy apparently has the ear of institutional investors, I wanted to pass along this info which CATP/SFE holders should scrutinize and accept/reject on their own. Increased DSOs have hurt MCAF's stock for example.
OTOH, given Intel is expected to tank according to Briefing.com following analyst downgrade, maybe these concerns will be "covered" by lower price in tandem with entire tech market.
Good luck
Mike |
