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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here
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To: MikeM54321 who wrote (2186)10/20/1998 8:04:00 PM
From: MikeM54321  Read Replies (1) of 12823
 
"A charge of $8.7 million for write downs on loans to competitive local exchange carrier customers also drew a negative response."

Thread,
I listened to CNBC's interview with Mory. He explained the above quite well, I thought. But I guess it wasn't good enough for others. He said simply, "We loaned money to vendors. We shipped $8.7M of product to them and we won't recognize the revenue until they pay us back fully." He said it's been standard practice since 1992 and all our competitors do it too.

I wonder why everyone got so excited about this? Relative to $370M in sales, it's not even that much. But no one asked him about the core switching products. That would have been more interesting to hear him respond to. For some reason they kept bugging him about the loan.
MikeM(From Florida)
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