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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: Jules B. Garfunkel who wrote (5994)	11/24/1999 11:04:00 PM
From: Seeker2007	Respond to of 8220

If I remember correctly IBM actually slightly exceeded the number after excluding the results of the Global Network sale to AT&T. Including the sale (ref. to 2ndQ numbers) the reported EPS far exceeded the First Call Estimate. It appears that the accountant fellow is objecting to IBMs reporting the extra income on the income statement - that is rather strange. How can they not report the one time gain on the income statement ?

To: Jules B. Garfunkel who wrote (5994)	11/25/1999 9:41:00 AM
From: Felix Appolonia	Read Replies (2) \| Respond to of 8220

Jules, Here is information from Brown Brothers Harriman which states "IBM earnings reports are clean." Sound View also indicates that "IBM provides analysts with the data necessary for a complete picture." The article says IBM's reading of the accounting policy is that regulators frown on the common corporate practice of pro forma presentation of results that exclude such gains and charges. The full article is at: dailynews.yahoo.com