[CANSLIM] MCAF

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: [CANSLIM] MCAF
Date: Thu, 17 Jan 2002 10:31:40 -0600
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Oh...here's the explanation for the SYMC vs. MCAF anomaly....

Will post a technical post analysis later.

I should just call this DYII, FIC revisited...

Katherine

      Jan 17 2002
      11:21 AM In Play McAfee.com (MCAF) 24.85 -7.44 (-23%): Robertson =
Stephens is raising several issues following MCAF's earnings report last =
night; believes that the quality of revenue has eroded a bit following =
co's change in license revenue structure; notes that in Q4 subscribers =
grew by only 125K vs 200K sub adds in Q3. While firm remains confident =
that 2002 numbers are beatable, thinks stk remains expensive, and would =
not be constructive on the name until a move to $20 or below.=20
      Jan 16 2002
      5:26 PM In Play McAfee.com (MCAF) 32.29 -4.11: -- Update -- During =
its conference call, the co guides higher Q1 rev/EPS to $19.1 mln/$0.06 =
(consensus is $18.95 mln/$0.05); FY02 projections are revs of $80-$90 =
mln, 69-72% gross mgn, and EPS should be in the range of $0.25-$0.28 (in =
the mid-point of rev consensus of $85.82 mln, and better than EPS =
consensus of $0.22).=20
      Jan 16 2002
      4:43 PM In Play McAfee.com (MCAF) 32.29 -4.11: Reports Q4 (Dec) =
earnings of $0.09, four cents better than the Multex consensus of $0.05; =
revenues were $18.6 mln vs the consensus of $17.8 mln.=20


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<DIV>Oh...here's the explanation for the SYMC vs. MCAF anomaly....</DIV>
<DIV>&nbsp;</DIV>
<DIV>Will post a technical post analysis later.</DIV>
<DIV>&nbsp;</DIV>
<DIV>I should just call this DYII, FIC revisited...</DIV>
<DIV>&nbsp;</DIV>
<DIV>Katherine</DIV>
<DIV>&nbsp;</DIV>
<DIV>
<TABLE cellSpacing=3D1 cellPadding=3D2 width=3D754 border=3D0>
  <TBODY>
  <TR>
    <TD class=3Dtd4g vAlign=3Dtop noWrap width=3D"12%">Jan 17 =
2002<BR>11:21 AM</TD>
    <TD class=3Dtd7g vAlign=3Dtop width=3D"10%" rowSpan=3D2><A =
class=3Dtd7g=20
      href=3D"http://www.briefing.com/scripts/ArchCal.asp?ID=3DIN"><FONT =

      style=3D"BACKGROUND-COLOR: #eaf4f1" color=3D#000000>In =
Play</FONT></A></TD>
    <TD class=3Dr2 width=3D"78%" rowSpan=3D2>McAfee.com (MCAF) 24.85 =
- -7.44 (-23%):=20
      Robertson Stephens is&nbsp;raising several&nbsp;issues following =
MCAF's=20
      earnings report last night; believes that the quality of revenue =
has=20
      eroded a bit following co's change in license revenue structure; =
notes=20
      that in Q4 subscribers grew by only 125K vs 200K sub adds in Q3. =
While=20
      firm remains confident that 2002 numbers are beatable, thinks stk =
remains=20
      expensive, and would not be constructive on the name until a move =
to $20=20
      or below.</TD></TR></TBODY></TABLE>
<TABLE cellSpacing=3D1 cellPadding=3D2 width=3D754 border=3D0>
  <TBODY>
  <TR>
    <TD class=3Dtd4w vAlign=3Dtop noWrap width=3D"12%">Jan 16 =
2002<BR>5:26 PM</TD>
    <TD class=3Dtd7w vAlign=3Dtop width=3D"10%"><A class=3Dtd7w=20
      href=3D"http://www.briefing.com/scripts/ArchCal.asp?ID=3DIN"><FONT =

      color=3D#000000>In Play</FONT></A></TD>
    <TD width=3D"78%">McAfee.com (MCAF) 32.29 -4.11: -- Update -- During =
its=20
      conference call, the co&nbsp;guides higher&nbsp;Q1 rev/EPS&nbsp;to =
$19.1=20
      mln/$0.06 (consensus&nbsp;is $18.95 mln/$0.05); FY02 projections =
are revs=20
      of $80-$90 mln, 69-72% gross mgn, and EPS should be in the range =
of=20
      $0.25-$0.28 (in the mid-point of rev consensus of $85.82 mln, and =
<FONT=20
      color=3D#228822>better than</FONT> EPS consensus of=20
$0.22).</TD></TR></TBODY></TABLE>
<TABLE cellSpacing=3D1 cellPadding=3D2 width=3D754 border=3D0>
  <TBODY>
  <TR>
    <TD class=3Dtd4g vAlign=3Dtop noWrap width=3D"12%">Jan 16 =
2002<BR>4:43 PM</TD>
    <TD class=3Dtd7g vAlign=3Dtop width=3D"10%" rowSpan=3D2><A =
class=3Dtd7g=20
      href=3D"http://www.briefing.com/scripts/ArchCal.asp?ID=3DIN"><FONT =

      style=3D"BACKGROUND-COLOR: #eaf4f1" color=3D#000000>In =
Play</FONT></A></TD>
    <TD class=3Dr2 width=3D"78%" rowSpan=3D2>McAfee.com (MCAF) 32.29 =
- -4.11: Reports=20
      Q4 (Dec) earnings of $0.09, four cents better than the Multex =
consensus of=20
      $0.05; revenues were $18.6 mln vs the consensus of $17.8=20
mln.</TD></TR></TBODY></TABLE></DIV></BODY></HTML>

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