INSpire Insurance Solutions (Nasdaq: NSPR) Message Board

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Non-Tech : INSpire Insurance Solutions (Nasdaq: NSPR)

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To: Redhook who wrote (4)	10/15/1999 9:41:00 AM
From: Doug (Htfd,CT)	Read Replies (1) of 8

NSPR pre-announces disappointing earnings, hires investment banker. In a press release, NSPR indicated its results would be below analysts' expectations, despite increased revenues, due to lower software revenues, and higher than expected expenses due to Y2K remediation and employee costs at new facilities. It will take a $30 million pre-tax write off -- about $17 million for "impairment of intangible assets and capitalized software costs," and another $12 million for higher reserves for accounts receivables and litigation expenses. Inspire's Chairman F. George Dunham III said they were "very disappointed" in the results. It also reported that it had retained an investment banking firm (Cochran, Caronia & Co) advise it on increasing shareholder value. Source: biz.yahoo.com Doug (no position in NSPR)

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