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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (41376)	10/24/2000 8:26:22 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 77397

How much of the increase in receivables and impacts on inventory turns are due to acquisitions? Somehow I don't think CSCO breaks this figure out. But considering that Cerent, for example, had a whopping 10 million in trailing revenues, I don't think CSCO inherited a lot of receivables there. At least nothing compared with the 6.9BB price tag, and nothing that would make a dent in the more than 1BB negative receivables entry on the cash flow statement. The simpler explanation is that Cisco is having to push product on less favorable terms, selling to customers who are not as liquid and can't pay as quickly as before. At the same time, inventories are building. The company should thank the government for the 2.495 billion-dollar "tax benefit", without which their cash flow growth would have been nonexistent. As for inventories Chambers stated in the last CC that inventories would be increasing going forward in order to solve component shortage issues There are numerous such references in the 10-K as well...JNPR says the same type of thing ("stockpiling"), but this sounds like just so much bluster. Message 14607808