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Technology Stocks : Trimble Navigation -- Ignore unavailable to you. Want to Upgrade?

To: Hockeyfan who wrote (2591)	7/13/1998 3:59:00 PM
From: SKIP PAUL	Read Replies (1) \| Respond to of 3506

Patents obtained by Trimble within the last 30 days: 1.5,777,580 Vehicle location system 2.5,774,826 Optimization of survey coordinate transformations 3.5,774,825 System for automatic vehicle location via cable TV 4.5,771,456 Enhanced suppression of multipath interference 5.5,767,804 Integrated radio direction finding and GPS receiver tracking system 6.5,764,770 Image authentication patterning 7.5,764,172 Hybrid DAC suitable for use in a GPS receiver 8.5,761,456 Processor device having automatic bus sizing 9.5,760,909 Integrated apparatus and method for EDM and GPS surveying 10.5,760,748 Pivoting support bracket to mount a GPS antenna above a theodolite or a total station mounted on a tripod.

To: Hockeyfan who wrote (2591)	7/14/1998 3:07:00 PM
From: Yin Shih	Read Replies (1) \| Respond to of 3506

Thanks for correcting my misunderstanding. With revenue/expense period matching, then what I described would not be correct unless the indirect expense (which would be charged to a current period) to direct expense (which would be matched with revenues) costs for a product had a much higher than usual ratio, i.e. very high leverage. For hardware products, my personal experience is that the best direct costs to revenue margin I've ever seen was something like 10%. This would result in something like 12-13 cents impact on earnings. On the other hand for higher priced software, direct costs to revenue are often well under 5%, which could still result in 14-15 cents impact on earnings. I'm trying to construct a scenario that might explain what I consider to be the conflicting comments by the CFO of a "satisfactory" quarter a few weeks before this earnings revision was attributed to a $5M order delay. Otherwise, I would have to conclude that management made a deliberately false statement which would be a rotten kettle of fish.