Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: Graeme Smith who wrote (12474)	10/31/1997 7:44:00 PM
From: CalculatedRisk	Read Replies (1) of 18263

Graeme, Zitel consolidated the balance sheet but not the P&L in fiscal Q3 (end June 30). This is highly unusual. This quarter, they also consolidated the P&L - and this is the reason for the large sequential increase in revenues. When an acquisition is material (as in this case) any reputable firm would always make sure the comparison was "apples to apples". Not Zitel! After last quarter's loss report, I speculated that something was wrong with the acquisition: exchange2000.com When the 10-Q was filed, we discovered that revenues had dropped below Zitel projections: exchange2000.com Now revenues for the acquisitions have plunged to $2.2M during this last quarter. Obviously, Zitel bought a "pig in a poke". BTW, congratulations on your 13 5/8 pick. I believe you are the winner! Best Regards, Bill

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