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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (146758)	5/1/2002 6:01:18 PM
From: i-node	Respond to of 1576321

agree with you but its the debt......7 billion dollars worth that hangs heavy over this stock. I had thought it was due sooner.......for some reason, I thought 2005,200 Actually, about $2B of the $7B is trade debt, which doesn't concern me since they have about $4B in current assets. The majority of the debt is comprised of long-term debentures dues 2015. I worked it up a while back, I think about $1B is dues by 2007. I'm not concerned about the debt because overall, their balance sheet is pretty strong. It isn't loaded up with intangibles. But their net income has run $400-500 Million/year for the last few years, except for the huge writeoff for 2001 -- even then, had they not taken a 5.7B restructuring charge, they'd have shown a profit of $300M. I'm not sure where you're getting the $50M figure. Even though their debt rating has been lowered (of course, you'd expect that after writing off $5.7B!), I think it was based on the concerns that the recovery may be further out than GLW suggests. Fiber is going to come back; there simply is no alternative for getting the kind of bandwidth we're going to need. But the flat-screen display business is, I think, likely to carry them through. I just think it is going to be really, really big -- perhaps bigger than fiber. The company is well diversified, with lots of different business interests.