Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 206.52

-1.2%

Nov 25 3:59 PM EST

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To: gbh who wrote (56107)	10/20/1998 12:33:00 AM
From: bucky89	Read Replies (3) of 61433

Most curiously, Ascend wrote off an $8.7 million loan to an unnamed customer rumored to be a new "competitive local exchange carrier" or CLEC, a breed of new carriers that have high capital expenditure budgets but face tough times with financing these days. The sale of equipment from this $8.7 million loan was NOT counted into Ascend's revenue this quarter. Rather, Ascend took a reserve against the entire amount of this loan. This is one of Ashby's innovative ways of bagging earnings for future quarters. He can reverse this loan at his option in the following quarters to make his numbers. That's $8.7M/200M shares = $0.04 per share right there that he is bagging for future quarters. bucky89

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