JDSU/JDU NR....not good, expect more of the same out of NT
Can't find it anywhere on the Net except Stockwatch, here is an excerpt....
JDS Uniphase has completed the assessment of its long-lived assets and has recorded additional reductions in the carrying value of good will of $4.2-billion for the quarter ended June 30, 2001, and $1.1-billion for the quarter ended March 31, 2001. As announced in Stockwatch July 26, 2001, the company announced it would be conducting an assessment of its long-lived assets and that such review may result in additional charges being recorded. It is also likely there will be additional reductions in good will in the quarter ending Sept. 29, 2001, because of the decline in the company's market capitalization since June 30. In addition, the following adjustments have been recorded for the quarter and fiscal year ended June 30, 2001:
In response to events and conditions occurring subsequent to July 26, 2001, the company has recorded approximately $76-million in increased inventory reserves and other charges.
Consistent with the company's investment valuation policy, the company has reclassified its writedown of approximately $512-million in the fair value of the Nortel common stock it holds, from an unrealized to a realized loss..... |
