InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 140.52

-2.4%

Dec 9 3:59 PM EST

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To: sandintoes who wrote (25979)	5/25/2001 4:29:46 PM
From: KLP	of 28311

Led me to look up this: edgar-online.com From the INSP 1st Quarter Report posted May 15, 2001 Other Non-Recurring Charges. Other non-recurring charges consist of one- time costs and/or charges that are not directly associated with other expense classifications or ongoing operations. Other non-recurring charges for the quarter ended March 31, 2001 were $1.1 million and included an allowance recorded on an employee loan of $1.1 million, $950,000 for a settlement on a litigation matter, an allowance of $1.0 million for a note receivable and a $2.0 million decrease to the estimated liability of past overtime worked. We were audited by the Department of Labor in February 2001. The Department of Labor determined that numerous employees, primarily former employees of Go2Net, were improperly classified as exempt that should have been classified as non- exempt. As a result, for the quarter ended December 31, 2000, we recorded an estimated accrual in the amount of $3.0 million for the past wages that are due for overtime worked. Based on the overtime questionnaires we have received from the applicable employees through April 30, 2001, we have revised our estimate for this liability to be $1.0 million. We expect to pay out the majority of the amounts due in the second quarter of 2001 and this matter to be resolved in 2001.

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