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Technology Stocks : FORE Inc.
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To: Edwarda who wrote (11686)4/8/1999 4:52:00 PM
From: Chuzzlewit  Read Replies (1) of 12559
 
Edwarda, generally in tech mergers the acquirer takes the whole shooting match -- R&D and management and manufacturing facilities. But here, management looks so inept that in order to effect a merger they will need to be bought off in some way. Contrast this with ASND where Eijabat and Ashby were able to turn things around after a couple of rocky quarters. And if you look at ASND's ROIC -- it came in at a respectable 34%, but CCC a mediocre 153 days -- it doesn't make for such a bad package taken as a whole (given the fact that ASND has been financing customer purchases thus extending DSO out to 96 days compared to 84 days for LU or 56 days for CSCO). Fore's main problem in cash generation is inventory control, maintaining 126 days on hand.

I don't mean to pass judgement on the company -- I don't follow it. My only point is that management looks mediocre at best. I have no idea about their technology.

TTFN,
CTC
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