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Technology Stocks : Novellus -- Ignore unavailable to you. Want to Upgrade?

To: Math Junkie who wrote (2018)	3/7/1999 1:19:00 PM
From: FJB	Read Replies (1) \| Respond to of 3813

Cash flow is calculated by adding noncash charges such as depreciation to net income after taxes. You also have to subtract necessary capital expenditures. Subject 17762 Bob

To: Math Junkie who wrote (2018)	3/7/1999 3:16:00 PM
From: Skeeter Bug	Respond to of 3813

richard, cash flow, just like earnings can turn negative. the bottom line is that if you spend $1 billion to make $500k every year, you are in trouble. of course, you amortize the billion. doesn't matter, though as the money is spent and you need another billion to play next year. this isn't the case during good times. you spend a billion and earn $1.050 billion. problem is that when mediocre or bad times hit, it wipes out all the cash quickly. make no mistake, nvls is smart. they know what they are doing. they probably can't believe the level of greed that fuels their stock price either. btw, debt was up about 15%. seems low interest rates and greed has everyone borrowing to "play" the market. we are getting close.

To: Math Junkie who wrote (2018)	3/7/1999 3:41:00 PM
From: brushwud	Read Replies (1) \| Respond to of 3813

Well, they did lose one quarter! > Novellus has not had a losing quarter in at least five years. What was referred to in posting #1921 is mentioned in a footnote on their web site: (1) The Company's reported loss of $153.7 million or $4.66 per share for the quarter ended June 28, 1997 includes pre-tax one-time charges totaling $235.2 million, consisting of $133.5 million in connection with the acquisition of the Thin Film Systems Business from Varian Associates, Inc., a write-off of $17.7 million in connection with outstanding accounts receivable from Submicron Technology, Inc. and charges totaling $84.0 million in connection with the May 5, 1997 settlement of the TEOS patent litigation. See the Company's Report on Form 10-Q for the quarter ended June 28, 1997.