Cymer (CYMI) Message Board

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Technology Stocks : Cymer (CYMI)

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To: Curlton Latts who wrote (7171)	10/29/1997 3:40:00 PM
From: Patient Engineer	Read Replies (1) of 25960

Curlton, Re:167M in cash/investments Don't get me wrong, I am very long Cymer, but you need to read the entire balance sheet. They have $175M in debt which they didn't have 9 months ago. On a cash flow basis, this year Cymer's operations have burned around $75M in cash. That's negative cash flow. Cymer must turn this around soon or they will have to go back to the equity or debt markets for more cash. This is a terrible environment in which to raise capital. They are much better off trying to figure out how to reduce their $100M in working capital needs (inventory plus receivables). That raises cash and reduces their future need for cash. Eventually companies are valued for their cash flow more so than earnings.

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