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To: Muthusamy SELVARAJU who wrote (6803)7/21/1999 12:04:00 PM
From: David Perfette  Read Replies (1) | Respond to of 9068
 
Thanks for the note, but it confirms my theory that they hid away what was in effect a $100m+ revenue quarter (ok, I was counting on it!) in the deferred revenue line, and that explains why their EPS performance was not at least $0.03-.04 higher.

Muthusamy,
Could you elaborate a bit more on this extra revenue you are seeing? This deferred revenue you refer too, I'm assuming will be recorded next qtr.?

-David P.



To: Muthusamy SELVARAJU who wrote (6803)7/21/1999 12:10:00 PM
From: Chuzzlewit  Respond to of 9068
 
Muthusamy,

If you are referring to deferred revenue (which is properly recorded as a liability), under GAAP accounting it cannot be recorded as revenues because the work has not been done. Think of deferred revenue as a window to the future. It will be counted as revenues when the product is delivered.

In any event, I am assuming that the bulk of the "other liabilities" line item is deferred revenue.

TTFN,
CTC



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