Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : LEGATO SYSTEMS LGTO -- Ignore unavailable to you. Want to Upgrade?

To: Edwarda who wrote (661)	1/22/2000 9:40:00 AM
From: JSwanson	Read Replies (1) \| Respond to of 1138

Excellent post (LEGATO SYSTEMS #661) and right on the money in my book. Just don't expect some of these mo-mo players to believe it. They got burned and want a scapegoat.

To: Edwarda who wrote (661)	1/23/2000 3:01:00 PM
From: aliveinsf	Read Replies (2) \| Respond to of 1138

Edwarda: Don't be niave. If what you are saying is true, then Wise is still a fool. Revenue recognition for software has been an issue for over 9 months. New rules have been developed and compliance is not voluntary. He should have known and not been surprised. Also, auditors rountinely "review" quarterly results before they are announced and issues are routinely discussed with management. This is either a classic cooking the books and a classic case of the CFO getting caught red handed, or the CFO being an idiot for not understanding current trends in revenue recognition. This is why the company has an audit committee and a CPA firm...this things were discussed at the highest levels of the company well before the problem surfaced...