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Technology Stocks : Seagate Technology
STX 283.26-1.6%4:00 PM EST
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To: Pawan Lingras who wrote (7228)4/13/1999 10:15:00 PM
From: William Epstein  Read Replies (2) of 7841
 
To All;

The restructuring charge reported includes a delay in the way SEG does its accounting. They are delaying recognition of revenues until the goods are really sold by the distributors. This doesn't mean money has been spent but a change to an accounting system that reflects real sales. So if orders are cancelled it doesn't have to be charged against the next quarter's revenues. However, for one quarter they have to bite the bullet. Actually, I like this move and I don't think the WALL ST.analysts will penalize them for it.
PHOTOMAN
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