BEA Systems (BEAS) - Undiscovered Growth Stock Message Board

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Technology Stocks : BEA Systems (BEAS) - Undiscovered Growth Stock

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To: GW who wrote (557)	8/19/1998 8:32:00 PM
From: David Miller	Read Replies (2) of 2477

They have great product and management. I'd say they have a fabulous CFO, and a PR department with more spin than a roulette wheel. How can they get away with the headline "$0.07 income per share", when the number in the press release clearly state "$0.57 loss per share". I know, they have hedged the $0.07 around with "adjusted to exclude acquisition related expenses" etc. etc., but there are $38.3m of those, and only $44.6m of "ordinary" costs. The company stayed afloat this quarter by going to the market for cash - the convertible notes go into non-current liabilities, the cash goes into current assets - giving at least an appearance of stability. It may be coincidence, but the net stockholders' equity at $52m is remarkably close to the venture capitalist $51m that WP put in in the first instance. The only difference seems to be that they have ramped this into a market cap of $1.4bn. david

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