SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : WFII (nasdaq) large insider buys starting
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: bob zagorin1/3/2007 5:23:10 PM
   of 39
 
4:17PM Wireless Facilities announces final collection of amounts due from sale of Mexico business; expects lower performance for Q4 (WFII) 2.85 +0.00 : Co announces an aggressive plan to reduce the co's operating expenses and improve profitability and free cash flow by divesting or exiting portions of its businesses where critical mass and profitability has not been achieved, and by reducing certain operational costs. This plan includes the sale of WFI's EMEA business, its remaining South American operations, reducing certain general and administrative costs, and implementing organizational changes. The co also announced it will take a one time charge in Q4 of 2006 of approx $7.5 mln to remove the ongoing expense for employee stock options. Additionally, the co that it has received the last and final payments totaling $9.5 mln from the sale of its Mexico business operations. These funds have been utilized to pay down net debt to approx $46 mln, which was primarily incurred to fund the acquisition of Madison Research Corporation. With the net impact of the one-time charge to reduce stock option expense, along with preliminary results for operating performance which are less than comparable periods, and with the estimated impact of the restructuring steps the co has taken, the co expects to report lower performance in the fourth quarter and full-year 2006 than in recent comparable periods in 2005 and 2006. However, the co believes the actions announced today should ultimately improve future profitability and maximize shareholder value.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News