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Technology Stocks : PEGA - Pegasystems
PEGA 58.32-2.1%12:53 PM EST
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To: Bill Harmond who wrote (213)10/30/1997 11:56:00 AM
From: Trader Dave  Read Replies (1) of 504
 
yes, they are consistent with goldman and montgomery. It sounds like the $50 million/5.5 year deal with FDC was to be recognized with $10 to $15 million short term (because that chunk was for fdc's internal use) with the balance to be recognized ratably over the contract life.

Supposedly, the auditors at E+Y have reversed themselves and are now asking the company to recognize all revenues ratably over the contract life. this will crush 2q and 3q results and push revs into 4q 1997 and beyond. if this is the truth, it's not too terrible, but we won't get confirmation until company reports its results in early october. it's probably a buyimng opportunity for the courageous.

TD
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