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Author: Patzer Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 45  
Subject: Re: Corporate Statements -Good News? Date: 11/3/1998 8:33 PM
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US LEC is making a small reserve allowance because the analysts expect there to be a reserve allowance. I haven't seen the 3rd quarter 10-Q yet, . . .

I've seen the 3rd quarter 10-Q now. A/R stands at $45.2 million, up $16.3 million sequentially on $22.3 million reported revenue for the quarter. There wasn't a quarterly cash flow statement, but on the 9 months cash flow, $14.6 million cash was used (not produced) by operations. A/R up $45.2 million for the 9 months. Accrued expenses were flat from 2nd quarter, so I don't know where US LEC is hiding the commisssion it pays on reciprocal compensation.

In other news, the FCC says that within a week it will release an order on the subject of traffic to ISPs, including the treatment of reciprocal compensation. If I knew what the order would say, I'd be making a killing in the market . . . just gotta stay tuned.

I wonder if I can find shares of CLEC to short? Never mind, I'm not brave enough. The FCC could blow the short clean out of the water.

Patzer
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