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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (4757)	1/25/2002 2:17:45 PM
From: Sam Citron	Respond to of 5867

In what way is the acceptance date "artificially imposed"? Acceptance is usually performed on a "first" machine that is placed without revenue recognition. Keep in mind that acceptance is a term of art. I do not know what customarily constitutes "acceptance" in this industry, but I assume it is contractually defined. If, for example, INTC has a contractual right to return the DUV within three months after shipment if it does not perform as expected, or for some other equally vague reason, then I would say that acceptance has NOT occured, at least until such time period has lapsed. The new accounting rule may be a good opportunity for lawyers to review and clean up vague contract bioler-plate to the ultimate benefit of suppliers, customers AND investors.