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Technology Stocks : CRUS, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: ted quinn who wrote (5659)	4/22/1998 7:25:00 PM
From: Jan A. Van Hummel	Read Replies (1) \| Respond to of 8193

Sorry to hear you are short and have not covered yet. BTW Look at the financials and you'll see the 4th qtr 98 was up 35 % over the 4th qtr 97. Also, looking at the other quarters it is evident that CRUS has turned the corner. We obviously have very different views of this and that makes a market. But if you feel this strongly, my suggestion is to sell into this "temporary" rise. JMHO Jan

To: ted quinn who wrote (5659)	4/22/1998 10:32:00 PM
From: w molloy	Read Replies (1) \| Respond to of 8193

Ted, Can you clarify your statement.... >>They got some one-time only patent money -- by including this they >> puffed up their numbers. The report states : >> The results for the fourth quarter of fiscal 1998 include revenues >> related to certain licensing agreements totaling $60 million as >> well as charges of $53 million included in cost of sales >> which are related to anticipated manufacturing capacity variances >> due largely to reduced production in graphics chips. Without these >> events, and their related tax effects, net revenues >> would have been $227.8 million, net income would have been $9.2 >> million and diluted earnings would have been $0.13 per share. So, in other words, if you leave out the patent earnings and the fab losses, the eps is 0.13 I don't see how you can construe them puffing up their numbers. However, you are dead on when you point out that the fab investment was a mistake. Hackworth should be out with a boot up his arse because of that deal. You are also correct to point out the shrinking Gross margins over the last few quarters. What was your take on the Conference Call? I heard it was pathetic. I can't see the analyst's being too impressed tomorrow. BTW - QCOM issued their numbers yesterday, their SI thread was really happy with after hours trading up 10% on the close. Today, QCOM was down 5% My point is - don't read too much into what is happening tonight. I will be pleasantly surprised if CRUS holds 12 tomorrow. w.