Sylvan Learning Systems (SLVN) Message Board

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Technology Stocks : Sylvan Learning Systems (SLVN)

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To: Chucky who wrote ()	12/12/1998 7:39:00 PM
From: Grommit	Read Replies (2) of 40

This, from yahoo, scares me. messages.yahoo.com@m2.yahoo.com an excerpt: He then adds that based on discussions with management on Dec. 1 and 7, 'We believe that Sylvan's reported revenue during the past five quarters has benefited from the use of the sizable off-balance sheet marketing funds it established during 2Q/97. Moreover, we are concerned that these mechanisms may have also benefited Sylvan's expenses during that period, and may continue to do so in the future.' Nadel then turns up the heat again: 'We remain concerned with the quality of Sylvan's reported earnings based on three issues: Sylvan's acquisition accounting, the marketing funds, and the company's relationship with Caliber Learning Network.' ........ I just stumbled on this stock last week and rec'd info from the company today. The stock looked good to me and I was about to buy some next week, but then I stumbled on the above link. But why would Legg Mason just upgrade them to a BUY? I will try to get a copy of Legg's report -- actually both reports. Anyone know anything?

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