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Technology Stocks : Zenith - One and Only

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To: Scott Lerner who wrote (3798)	12/31/1997 3:31:00 PM
From: dePaul	Read Replies (1) of 6570

Just read this news story that I had'nt heard mention on this board. Zenith will recieve a settlement of about a million a month for 11 months from a dispute it had with a brazilian company. Probably old news newsalert.com Sales were negatively impacted as a result of a dispute the company has had with a Brazilian customer. The company has not shipped to this customer this year, and as a result the company's international sales have been lower than expected. In addition, third-quarter 1997 selling, general and administrative expenses were affected as the company recorded a $6.0 million bad debt charge related to this Brazilian customer's receivable. For 1997, the company has recorded a total bad debt charge of $21.0 million related to this customer , which reflects the company's estimated loss as of September 27, 1997. Subsequent to September 27, 1997, this matter was settled. The agreement provides that the company will make certain parts and components available to this customer, and will receive an $11.0 million settlement payable in installments over eleven months.

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