Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 327.01

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Jan 16 9:30 AM EST

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To: StanX Long who wrote (55488)	11/14/2001 12:28:49 AM
From: StanX Long	Read Replies (1) of 70976

Posted at 4:09 a.m. PST Tuesday, Nov. 13, 2001 Vodafone's first half beats forecast siliconvalley.com LONDON (Reuters) - Vodafone Group Plc, the world's largest mobile phone operator, pleased investors on Tuesday as it beat market forecasts for underlying earnings despite a massive bottom-line loss. The market shrugged off huge acquisition-related write-offs which led to an 8.4 billion pound ($12.2 billion) pre-tax loss, and Vodafone shares added more than two percent. Earnings before interest, tax, depreciation and amortisation (EBITDA) from mobile businesses rose 46 percent to almost 4.8 billion pounds ($6.9 billion), including the company's share of subsidiaries and joint ventures. Analysts had forecast 4.6-4.72 billion pounds. The EBITDA number excluded exceptional costs of 4.5 billion pounds from asset revaluations and a goodwill amortisation charge of 6.7 billion -- the latter a hangover from a massive acquisition spree that included Germany's Mannesmann and Spain's Airtel. The revaluation stemmed mainly from a write-down in the value of fixed line assets in Germany.

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