HBOC...Buy in here? Message Board

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Biotech / Medical : HBOC...Buy in here?

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To: Olu Emuleomo who wrote (118)	7/14/1998 5:53:00 PM
From: Chuzzlewit	Read Replies (1) of 341

Olu, I've been staring at the income statement looking for funny stuff, but it seems solid to me. For example, at the end of the six month period deferred income taxes fell from $73 MM to $53 MM (shows that they are not getting too aggressive in either revenue recognition or using longer than prudent depreciation periods). Cash increased by almost $60 MM and receivables increased by $67 MM. I don't see a problem with the receivables. So, I think if there is a fundamental problem it is forward-looking rather than in the quality of the earnings. It simply could be momentum guys bailing. We had some pretty good up days for the past few weeks, so this could just be the point where the mo mo guys are scrambling to get out. Maybe I'm just whistling in the dark. TTFN, CTC

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