Cameron -
I'm rolling on the floor laughing. (ROTFL, for chatline junkies.)
Here's something I thought you might be interested in. One Mr. Smith has been proclaiming that a 100 million dollar decrease in inventory, coupled with a 100 million dollar increase in receivables, indicated that Iomega was dumping inventory in the third quarter.
But guess what? It actually didn't happen.
First of all, receivables in the second quarter were unusually low.
Let's go to the video tape:
All figures in round millions
Q3 97 - inventories 188, receivables 264
Q4 97 - inventories 246, receivables 280
Q1 98 - inventories 246, receivables 249
Q2 98 - inventories 280, receivables 143
Q3 98 - inventories 195, receivables 225
What's all this? Inventories were actually down not by 100, but by 85 million, and receivables up not by 100, but by 78 million from the previous quarter. But the previous quarter's number was unusually low. And if you compare the receivables to Q3 of last year, 188 mil, you see that this year was only 37 million more.
Just thought I'd point that out.
- Allen |
