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Non-Tech : Play-by-Play Toys and Novelties (pbyp)

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To: Kelly who wrote (127)11/16/1999 1:38:00 AM
From: peter michaelson  Read Replies (2) of 132
 
PBYP's 10K was filed this afternoon. The company shows a net loss of $30 million or $4 per share, after showing a loss of $4 million share after nine months.

Revenues are down 15%. Margins are down. $4 million of inventory was written off - not much compared with the $69 million that was reported in June. SG&A way up based on writing off royalty payment asset and several million of receivables.

Shareholder equity is down $30 million to about $55 million, around $7 per share.

No doubt more damage to come, but the Price Waterhouse opinion is unqualified.

peter
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