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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: per strandberg who wrote (40350)	12/21/1998 5:36:00 PM
From: SeaViewer	Respond to of 132070

The fourth quarter for MUEI is the previous quarter. It just reported the results for the first quarter of 1999. Jeff

To: per strandberg who wrote (40350)	12/21/1998 6:16:00 PM
From: Knighty Tin	Respond to of 132070

Per, Yes. When they take a big writeoff, as this co. does all the time, they also start a slush fund for a lousy quarter. When that quarter arrives, they add that slush fund to the eps to sucker people into the stock. It is legal. Nearly all the really sleazy tech cos. do this sort of thing. Another trick they pulled was decreasing depreciation this quarter, which accounted for more than all their drop in inventory they bragged about. And added a penny to eps. Then they dropped Capital Expenditures by nearly 50%. MUEI pulled out all the stops. However, the funniest part of the report is the one I predicted, receivables. Sales up 19%, receivables up nearly 30%. They didn't shove a few pcs out the door to folks who didn't want them to make the quarter, did they? Nah, those good old boys wouldn't do that. <VBG> This is the direct model equivalent of stuffing the channel. MB