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Technology Stocks : Oracle Corporation (ORCL)

ORCL 164.58

-2.6%

Jan 30 3:59 PM EST

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To: Reginald Middleton who wrote (8599)	10/7/1998 3:49:00 PM
From: trust fund pirate	Read Replies (1) of 19080

Reginald, I'm trying to understand what you are saying here. Are you telling us that: Oracle has sold some type of intangible asset (such as proprietary program code) that was carried on the balance sheet at minimal (or zero) value (it's development cost having previously been expensed as r&d or similar). Since the asset carried very little book value, Oracle recorded a large gain on sale which they deceptively ran through their p&l as operating revenue. Since there were no direct expenses associated with the asset sale, most of this revenue went directly to the bottom line. Additionally, the sale of this asset was strategically short-sighted because, although income was produced this past quarter, the company will forego future revenues and profits by virtue of no longer owning the asset. Is this a fair assessment of the point you are making? Did you ascertain this from an analysis of the 10Q data?

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