Teletek (TLTK): Relaxed and Holding Message Board

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Technology Stocks : Teletek (TLTK): Relaxed and Holding

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To: Stan Stone who wrote (2184)	10/1/1996 6:58:00 PM
From: Joe Williamson	of 3645

I was expecting weak revenues, but not weak earnings for the quarter. They had a profit on 9 mil in the Dec qtr, so I had expected perhaps a dime this quarter and am not sure but what they will be. How? Well the curious thing about the delay is that the said they lost $275M (or some such number) in fiscal 95; they actually lost 2 mil in 95! At least they did according to S&P. So it appears KPMG is requiring them to either shift revenues from 96 to 95 OR expenses from 95 to 96. The delay may be due the restatement (if there is one) rather than being something booked in the 4th qtr. This certainly was not expected by me according to my last conversation with Mills several days ago when he said "no surprises" in the quarter. Perhaps he was unaware at that time or there are no surprises in the quarter but were for the year but I certainly picked up nothing to be concerned about then and am somewhat puzzled now as to what it all means.

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