Option Granting Practices and exploits Message Board

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Strategies & Market Trends : Option Granting Practices and exploits

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Oct 28 3:59 PM EDT

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From: RockyBalboa	8/24/2007 3:40:30 PM
	of 165

SNIC Sonic Releases 2Q Revenue Guidance Thursday August 23, 5:22 pm ET Sonic Expects 2nd-Quarter Revenue of $30 Million to $33 Million NOVATO, Calif. (AP) -- Sonic Solutions, which develops digital media software, said Thursday the company expects second-quarter revenue of $30 million to $33 million. Analysts surveyed by Thomson Financial forecast higher revenue for the three months ending at the conclusion of September of $34.7 million. Sonic is conducting a voluntary review of its stock option grant practices and related accounting. As previously announced, the company has determined that its annual and interim financial statements can no longer be relied upon. The company expects additional, material charges for stock-based compensation expense as well as a need to restate previous financial statements. The cost of revenue as a percentage of net revenue is expected to be about 22 percent. The cost of revenue guidance excludes expenses related to the amortization of intangibles and stock-based compensation costs. Sonic shares dropped 40 cents, or 3.9 percent, in after-hours trading to $10, after gaining 1 cent to $10.40 in the regular session. The stock has traded between $10.34 and $19.35 during the past 52 weeks.

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