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Technology Stocks : FORE Inc.
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To: Charlie who wrote (10418)2/17/1999 10:42:00 AM
From: Edwarda  Read Replies (2) of 12559
 
It is news and is on the Dow Jones newswire. The SEC is investigating the writing off of in-process R&D associated with acquisitions for a whole host of companies. At some companies, such as Network Associates, reversing the written off amount and amortizing it over a period of years will reduce reported earnings per share.

FORE does not appear to have a problem as Berkeley, when it was acquired, really was a small start up company with no revenues. The write off appears justified, even under the tighter rules the SEC is promulgating. It is the kind of write off that Cisco has been taking for ages as well.

This reaction appears overdone, but this market seems to take the attitude of shoot first, ask questions later.
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