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Gold/Mining/Energy : Rainmaker (T:RNK) Announces Q1 Results - $0.09 EPS
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To: Praxis who wrote (33)3/21/1998 5:22:00 PM
From: diddlysquatz  Read Replies (1) of 73
 
What the company has done is take the conservative approach and expense certain development costs. Short term pain for long term gain as these items will not show up again on the books. The company did mention however, that some of the writeoffs are due to the fact that they believe they may not be able to recover the costs of development which I take to mean that these projects may be losers. In any event revenues were up sharply as were earnings before unusual items meaning that next years earnings should be very good.

Cheers,

Paul
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