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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (9610)	7/28/1998 11:11:00 AM
From: Saul Feinberg Jr.	Read Replies (2) \| Respond to of 42804

What Mr Pink is referring to is this: Remember that in 1Q'98, company took a 23 million charge for Xyplex and the 30 million technology in progress? Well, everything in accounting has to balance out, right. Well, the accrued liabilities and accrued restructuring charges grew by 26.5 million after the end of Q1 (the difference was either spent within Q1, or put in other accounts). What Pink is saying is that the accrued restructuring charges and liabilities dropped a total of 15 million this qtr. Applying this to the revenues of 65 million, MRV would not have become profitable. (65 million - 15 million = 50 million, whereas total expenses were something like 54 million). This is what he means by accounting gimmickry. Again, you know what my answer is.