PEGA - Pegasystems Message Board

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Technology Stocks : PEGA - Pegasystems

PEGA 60.01

-1.7%

2:43 PM EST

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To: Trader Dave who wrote (366)	3/12/1998 3:40:00 PM
From: Clam Clam	Read Replies (1) of 504

Rick Sherlund at Goldman is still sitting on $23mm in the Dec qtr. That is up from $9 $7 $7 in the previous 3 quarters. This company's accounting is a sham. The management still doesn't understand that the income statement and statement of cash flows should reconcile. Hopefully, this Wall Street Journal article will be high profile enough to put pressure on the new auditors to force this company to use the same accounting stardards everybody else in software must use. I am sick of companies that stress how great the 'pipeline' is and think that valuation should be based on 'pipeline' - not execution. Time will tell but I would rather be short than long this over-hyped company. That said, it's hard to underestimate just how little the owners of this security really know about what is truly going on behind closed doors at their 'investment's headquarters. Look for Ray Fritz to replace the current CFO after the forthcoming restatement. Maybe Howard Graham can join him.

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