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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: UFGator93 who wrote (70957)	5/3/2001 2:16:10 PM
From: the hube	Read Replies (1) \| Respond to of 122087

I'm almost positive(but I wouldn't swear to it) I heard on the call that Cendant was their biggest customer. I remeber thinking that it fit in perfectly, because I was very curious about the strong cash performance in the quarter and the huge increase in deferred revenue. If CD paid say $100 million for a two year subscription on 2/15 or whatever the acquisition date was, they would recognize 1.5/24 * $100 = $6.5 million of revenue, and have an increase in deferred revenue of $93.5 million. I'm sure my numbers are very wrong, but I'm also fairly sure there is more to the relationship than meets the eye.