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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: moufassa7 who wrote (4996)	2/15/2002 8:40:10 AM
From: KevinThompson	Read Replies (1) \| Respond to of 13660

Wouldn't you know it. Pro-forma "accounting" practices are routinely used to show better than reality losses. Now we see that IBM didn't disclose a one-time gain in order to puff up their earnings. Tricky tricky... IBM used one-time gain to lower operating expenses: NYT (107.89) When IBM announced in mid-Jan that it had beat Street forecasts in Q4, it did not disclose that the sale of an optical biz to JDSU had generated $300 mln that the co used to lower its operating costs, according to the New York Times. The company did not provide details of the transaction to investors or account for it as a one-time gain, as is the practice.