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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Don Earl who wrote (17457)9/22/1997 4:18:00 PM
From: Don Earl   of 42771
 
I was on the phone with investor relations. I'll try to relate as best I can some of the things I found out. The following is what a court would consider hearsay and is subject to misinterpretation on my part. There. That should be a good enough disclaimer.

Sell through in the channel in Q2 was 135 million. Only 100 million was shipped. So, as I've thought all along the policy to reduce channel inventory started at the end of Q2.

As far as new products and ship dates, the articles we've all seen is all they are saying.

Product inventory at the end of Q3 was "less" than 45 days and at the lowest level in ten years. Heavy emphasis on "less". My efforts to narrow it down to something besides 0-44.99999... were fruitless. They aren't giving away any clues on projections for Border Manager either.

Sales and marketing costs are mostly maintaing branch offices, and sales staff. A figure of 10 million for advertizing was mentioned and that any type of mass marketing campaign is pretty much out of the question because of cost.

I asked about a new COO and now know almost as much as I did before I asked.

We talked for quite awhile but I think that covers the high points. If I think of something else I'll post it later.

Don

PS: I'm still sticking with my amature analysis for Q4.
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