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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Craig Stevenson who wrote (18236)	9/25/1998 4:30:00 PM
From: Kerry Lee	Read Replies (1) \| Respond to of 29386

Another point of clarification/reiteration on the INRANGE deal: 1) There are 3 installment payments of $3 million each..1st installment already received, second payment Dec 15/98 and 3rd payment March 15/99. 2) The $2 million prepaid royalites apply against anticipated volume shipments by Inrange in the second half of 1999..therefore it is possible that this $2 million revenue will not get recognized until Q3/Q4 1999 even though the cash is received much sooner ( part of the 3 installment payments) 3)There is NO decision on how to recognize the $7 million license fee..it is possible that the entire $7 million may be recognized all in this quarter OR spread over a number of months, eg could be spread over 9 months or even 12-24 months or whatever..I assume this will be one of the key discussion points with their new " Big 6" auditor Peat Marwick KPMG.