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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: Souze who wrote (5370)	11/20/2000 10:02:25 PM
From: Mark Adams	Respond to of 5650

Long PSIX, but what about interest coverage ratio? For example, PSI Net has $4.6 billion in debt and preferred stock, more than double its $2 billion in net plant and equipment. Its interest expense and preferred stock dividends for the past 12 months totaled $400 million, compared to revenues of $1.04 billion. The company's net operating cash flow was a negative $241 million in the past 12 months. PSI Net's stock reflects these difficult economics; it has crashed from $60.94 a share last March to $1.63. The company's bonds are fetching less than 40 cents on the dollar. On Thursday, PSI Net announced that it had hired Goldman Sachs to help it explore its "financial alternatives." nytimes.com