AUGI's 10-Q is late (as usual). Here's their latest excuse from their NT 10-Q 6/14/99 filing:
<< As a result of material changes in the structure and terms of the Connectsoft asset sale transaction and the related finalization of the related discontinued operations accounting as well as finalizing Form 10-Q of a publicly held subsidiary, the consolidating and consolidated financial statements and notes thereto could not be completed by June 14, 1999 without unreasonable effort and expense. >>
They did summarize their quarterly results as follows:
<< The results of operations for the quarter and nine months ended April 30, 1999 will reflect losses from continuing operations of approximately ($1,256,000) and ($3,010,000) compared to income from continuing operations of $714,000 and $823,000 for the quarter and nine months ended April 30, 1998. The anticipated change is due largely to a non-recurring inventory reserve in the 1999 first quarter at the Western Power subsidiary of approximately $1,100,000 and somewhat lower margins at Western. Income (loss) from discontinued operations in the quarter and nine months ending April 30, 1999 was approximately $2,656,000 and $0 compared to $(5,348,000) and $(8,004,000) in the comparable quarter and nine months of the prior year. The net income from discontinued operations for the three months ended April 30, 1999 is primarily due to the changes in the structure and terms of the Connectsoft asset sale transaction and the resulting gain on sale.>> |
