Adaptec (ADPT) Message Board

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Technology Stocks : Adaptec (ADPT)

ADPT 17.52

-1.5%

Jan 16 4:00 PM EST

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To: deke leatherman who wrote (3433)	8/14/1998 3:56:00 PM
From: Jim Switz	Read Replies (1) of 5944

ADPT never had $1 billion in cash (meaning cash and marketable securities on the balance sheet); the most was $727 million in the quarter ending Dec. '97. Most recently, they reported $697 million and $681 million in the Mar/June '98 quarters respectively. They've been spending money on acquisitions and other expenses, but the cash on hand has not dropped dramatically (the Symbios deal, had it occurred, would have consumed about $475M cash and added another $350M or so in debt, according to published articles, so that would have been quite a hit). In the most recent CC, mgmt. said that cashflow for the current quarter should be about neutral, so expect cash to be in the high $600's once again.

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