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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (41144)	4/29/2004 5:31:49 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69833

NT CC firing and re-statement Mostly of re-statement in continuing operations. Focus on accured libabilities. Will effect cost structure going forward. No areas not effected. 2003 1H is now a loss. 2003 2H was profitable. Business comment: strong in wireless and VoIP. Business model intact. What about $123 mil in bonus paid in 2003? Still under examination. Effect on GM and inventory. No color yet. Debt? No comment above statement in press release over early re-call of debt. Full result of the Q will not be released till the review has been complete. GM guidance from old management? No comment. Effect of review on prior periods? Confident of no impact on revenue? Yes. Cash also. Loss in first half excludes one time items on pro forma basis. Bottom line GAAP loss. Q:Color on momentum statement in business? Up q-q or not as weak as expected. A: Expect upside in future. Q: Effect of bond recall or accelerated payments? A: 3.6 bil in cash. Q: 4 financial staff under review. One per business segment. A: Yes. Q: Any other deparments under review? A: No. Q: Effect on suppliers and customers? A: Will be talking to them. Q: Still gaining share under the current conditions? A: Yes. Confident of position. Q: GM impact? Type of things that could impact GM? Percent effect? A: Still working on it. Q: Specific area of effects. A: Accurals. Establishments of accurals and time of accurals. Mostly a timing issue. Q:Any police investigation underway? A: Not as far as we know. Q: If no change in revenue and this is reserves and restructuring charges issue. What extend are charges. A: Across all businesses not just restructuring. Q: Assuming character of re-statement, business momentum has been seen and turn was in the last half of 2003. Characterize business? A: No comment. Q: How will you assure investors in underlying business? A: Have a portfolio of good products. Have good booking. Strength in R&D.