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Technology Stocks : Brock International (NASDAQ: BROC, the forgotten stock)
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To: Roger A. Babb who wrote (854)11/9/1997 8:43:00 PM
From: Roger A. Babb   of 928
 
Investor Meeting, report #1

The question was asked about the impact of the legal settlement BROC won on earnings. It seems that it was a dispute with a client and the settlement prevents BROC from discussing the details.

The main effect was that a large receivable was collected and is now cash. This did not affect earnings but only transferred money between accounts receivable and cash.

A secondary effect was that an amount was credited to G&A which offset previous legal expenses associated with the case. This amount did increase earnings for the 3rd quarter (part of expenses were in previous quarters). They could not reveal the exact amount, but the small profit would have been a small loss without the settlement.
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