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Technology Stocks : CYRIX / NSM

NSM 18.27

0.0%

Jul 31 5:00 PM EST

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To: FJB who wrote (21917)	12/9/1997 9:30:00 PM
From: kash johal	Read Replies (2) of 33344

The basic impression that I have of Halla and the NSM guys is very positive, they seem bright and very conservative with their numbers. As an example they hit their number plus a few cents and we all know that a lot of hi-techs will probably miss in January. My only guess is they do not want a repeat of the 686 situation where they have inventory (in-house and disti) in one quarter and then have to sell it off at lower price next quarter (creating a negative earnings surpise). If they for example valued in-house and disti inventory AT COST then they eliminate this risk. If this is the real cause for the $18M write down then I would feel much much happier. Many many hi-tech companies have gotten into trouble by shipping product to distribution channel and realising the revenue but at some point you pay the piper particularly in hi-tech biz where prices decline rapidly over time. If my guess/hope/speculation is accurate the analysts will like this once they evaluate the numbers. We will find out in next few days. Best regards, Kash

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