One more from WSJ:
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August 4, 2000
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SDL Sees $8M Noncash Stk Compensation Charge For 3Q
Dow Jones Newswires
WASHINGTON -- SDL Inc. (SDLI) expects to take an $8 million, noncash stock compensation expense for its fiscal 2000 third quarter ending Sept. 30.
In its second-quarter report filed Thursday with the Securities and Exchange Commission, SDL said the number of shares issued in fiscal 2000 under its employee stock purchase plan exceeded the number of shares available under the plan at the beginning of the October 1998 employee purchase period.
The company attributed this to the substantial increase in market price of its common shares beginning in its 1998 fourth quarter and the resulting increased levels of employee participation under its employee stock purchase plan.
SDL said the $8 million, non-cash charge is based on the difference between the purchase price and fair value of its common stock for the last share authorization.
As reported on July 20, the company posted a second-quarter noncash compensation expense of $4.8 million. Excluding amortization and items, SDL earned $27.2 million, or 33 cents a share, for the second quarter, compared with $6.1 million, or 9 cents a share, for the year-ago period. Second-quarter revenue rose to $110.5 million from $43.2 million.
SDL, based in San Jose, Calif., sells fiber optic networks.
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