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

To: kvkkc1 who wrote (55445)	9/19/2001 10:37:23 AM
From: GVTucker	Read Replies (2) \| Respond to of 77400

kvkkc, I'm checking for a 'Net link, here's something off my Bloomberg: What's more, in the quarter ended in April, Cisco took a pretax charge of $2.25 billion for parts that had been rendered useless by the steep decline in demand for Cisco products. Lest anyone think this was an accounting ruse to enhance future earnings, Chief Financial Officer Larry Carter said that unusable parts would be destroyed. I also remember a gal from Cisco making a similar statement on one of the conference calls when asked pointedly about this from a hedge fund that was rather obviously short Cisco stock. Also, in checking, I see where the $187mm figure came from. I haven't paid as much attention as of late to Cisco's earnings reports, so I missed it at the time.