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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Melissa McAuliffe who wrote (4373)	1/28/1999 5:51:00 PM
From: Smart Investor	Read Replies (1) \| Respond to of 4509

I agree. Large percentage of technology stocks have the same problem, including IBM. I think this is minor. PSFT management has always been fairly conservative. Tomorrow may not be a bad day after all if after hour trading is any indication. For God's sake, PSFT is making money, while many sky high internet companies are losing big money. Look at SEEK, it lost 40 cents per share last quarter, and more losses next quarter.

To: Melissa McAuliffe who wrote (4373)	1/28/1999 5:52:00 PM
From: aps	Respond to of 4509

I think u r right about that...hmmmmmm I think the stock is going down at open and may recover later.

To: Melissa McAuliffe who wrote (4373)	1/28/1999 6:00:00 PM
From: Tom_	Read Replies (1) \| Respond to of 4509

Possible Accounting Adjustments Not Material? I don't know if the following is just sloppy drafting or if PSFT believes no material adjustments will be necessary for PMan, but that there is a higher possibility of material adjustments for Intrepid. The Company believes its accounting for PMAN was proper and in accordance with GAAP and with industry practices in effect in 1996, and the Company's calculation of the adjustment required to reflect the recent SEC guidelines show that any adjustment would not be material to the financial statements of 1996, 1997 or 1998. The Company also believes that its accounting for Intrepid in the fourth quarter of 1998 is in accordance with the SEC's recent guidelines. However, there can be no assurance that the SEC comments once issued will not require a material change in reported earnings of 1996, 1997, or 1998 related to the accounting for the PMAN or Intrepid acquisitions. Note that they don't specifically say they believe Intrepid was in accordance with GAAP, (perhaps they felt that referencing the SEC guidelines was inclusive enough), nor that they believe that no material adjustment would be necessary for Intrepid. Tom