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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (114651)7/26/2001 7:33:39 PM
From: stomper  Read Replies (2) of 436258
 
This is cute, JDSU restates March quarter and writes off the extra 35 billion in that quarter...LOL, but really -ng-:

The Company has had communications with the Staff of the SEC, and will amend its Quarterly Report on Form 10-Q for the quarter ended March 31, 2001 to reduce the carrying value of goodwill by $38.7 billion for that quarter. In addition, the Company has recorded a $6.1 billion reduction of goodwill for the quarter ended June 30, 2001 following further declines in its market capitalization. Finally, approximately $300 million in certain amounts paid to SDL executives in connection with the acquisition which were previously recorded as acquisition costs in the quarter ended March 31, 2001 have been reclassified as a one-time charge for that period and the Company also recorded a $715 million charge for that period to write down the value of its equity investment in ADVA.
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