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To: richard surckla who wrote (68877)	3/22/2001 12:57:45 PM
From: Jdaasoc	Respond to of 93625

richard: Earnings delays pretty much always mean there is really bad news They had 10 weeks inventory 2 months ago and now are claiming no inventory. So they must have shut down a lot of fabs and sold inventory below carring cost. So they could be absolutely right about pre-tax profit but they will have very large writeoff on value of inventory. The last published figures I have seen on value of inventory was from Oct 00 and it was about $704 M. The value of inventory is listed in 1/12/01 SEC 10Q statement as growing by $322 M So these guys sold inventory listed on the books for $1B and grossed $1 B for quarter including that inventory. It doesn't seem like a pretty picture. It is easy to claim being lowest cost manufacturer if the fabs are idle. john