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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (130724)	10/23/2001 4:13:44 PM
From: stomper	Read Replies (1) of 436258

Did you catch this one last week, rofl: 360networks posts $63 million negative revenues in Q2 VANCOUVER, Oct 19 (Reuters) - Fiber optic telecoms network builder 360networks (Toronto:TSX.TO - news) on Friday said it recorded $63 million in negative quarterly revenues because of renegotiated contracts that forced the firm to reverse the recording of $102 million of revenues on its books. The firm, which filed for protection from creditors last year, also said it recorded a $4.4 billion asset impairment provision for the first six months of the year for writing down the value of its assets because of the slump in the telecommunications industry. It posted a loss of $5 billion, or $6.13 cents a share, for the second quarter, compared to $104 million, or 19 cents a share, in the same period a year earlier. It blamed the asset impairment provision, renegotiated contracts, bad debt allowances and reorganization costs for the quarterly losses.

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