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To: Robert Chen who wrote (328)	1/12/1999 6:24:00 PM
From: Ausdauer	Read Replies (1) \| Respond to of 1881

Hard to believe that earnings report will be viewed favorably. Ausdauer

To: Robert Chen who wrote (328)	1/13/1999 1:04:00 PM
From: Smilodon	Read Replies (1) \| Respond to of 1881

Inventory down but I think a lot of it was a writedown. As you remember, they built up inventory in Q1 98, thinking capacity would be tight in Q4. However, it was not and prices continued to collapse. Thus, a writeoff of inventory lowers its dollar value. I assume they also lowered number of items as well, so it is a combination. I sold my shares this morning. Partially due to the market, and partially due to the earnings. Will revisit it later in the year.