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Non-Tech : The New Iomega '2000' Discussion Group
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To: Gottfried who wrote (3050)10/4/1999 7:04:00 PM
From: charlie  Read Replies (2) of 5023
 
5 million loss does include 12million charge (inventory writedown etc). If this is the case, they actually had 7mil operating profit. Am I wrong?

Charlie

Based on preliminary analysis to date and excluding the restructuring charge and the increase in the valuation allowance for its
deferred tax assets described above, Iomega also said that it expects a pre-tax loss for the quarter ended September 26, 1999 of
approximately $5 million on revenues expected to be slightly higher than the $349 million reported in the second quarter of 1999. The
expected third quarter pre-tax loss of approximately $5 million, while excluding the restructuring charge and increase in valuation
allowance, does include pre-tax, non-cash charges not directly related to the restructuring actions above of approximately $12
million. These other charges are expected to be recorded in order to reflect current estimates of the net realizable value of inventory,
equipment, and other assets.
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