SMSC Standard Microsystems Message Board

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Technology Stocks : SMSC Standard Microsystems

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To: John Goode who wrote (47)	11/10/1996 10:55:00 PM
From: dwight vickers	of 335

John, I have also been following these guys for a couple of years. The balance sheet is pristine. They write off everything ASAP, no expensing to speak of. The $5.6 million from their EFAR Microsystem acquisition earlier this year was written off immediately. They have $9 per share in working capital, virtually no debt. Only $16 Million of inventory was finished goods per the latest 10Q, down 20% from the previous quarter. They would not hesitate to write off obsolete inventory. 16 Mill. doesn't seem bad for finished goods for a company with 90 to 100 Mill. in quarterly sales. 2 weeks or so. I'm not a CPA, but can read balance sheets a little bit. My good friend, however, is an expert. He raves about SMSC's financials. Dwight

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