CRUS, good buy? Message Board

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Technology Stocks : CRUS, good buy?

CRUS 141.69

+1.5%

1:27 PM EST

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To: ted quinn who wrote (5659)	4/22/1998 10:32:00 PM
From: w molloy	Read Replies (1) of 8193

Ted, Can you clarify your statement.... >>They got some one-time only patent money -- by including this they >> puffed up their numbers. The report states : >> The results for the fourth quarter of fiscal 1998 include revenues >> related to certain licensing agreements totaling $60 million as >> well as charges of $53 million included in cost of sales >> which are related to anticipated manufacturing capacity variances >> due largely to reduced production in graphics chips. Without these >> events, and their related tax effects, net revenues >> would have been $227.8 million, net income would have been $9.2 >> million and diluted earnings would have been $0.13 per share. So, in other words, if you leave out the patent earnings and the fab losses, the eps is 0.13 I don't see how you can construe them puffing up their numbers. However, you are dead on when you point out that the fab investment was a mistake. Hackworth should be out with a boot up his arse because of that deal. You are also correct to point out the shrinking Gross margins over the last few quarters. What was your take on the Conference Call? I heard it was pathetic. I can't see the analyst's being too impressed tomorrow. BTW - QCOM issued their numbers yesterday, their SI thread was really happy with after hours trading up 10% on the close. Today, QCOM was down 5% My point is - don't read too much into what is happening tonight. I will be pleasantly surprised if CRUS holds 12 tomorrow. w.

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