Well Doug.. email the station and straighten 'em out. If you don't take an active role pro or con your positions you're just being blown around by the winds of fate.
What's CBC? Get their email address and send them this from Yahoo..
"Tuesday June 2, 7:05 pm Eastern Time
Newbridge Q4 matches analysts' estimates
TORONTO, June 2 (Reuters) - Computer networking firm Newbridge Networks Corp. (NN - news) met analysts' expectations for fourth quarter earnings on Tuesday after posting three straight quarters of
disappointing results.
Excluding charges, earnings for the period ended April 30 hit $0.13 a share, matching First Call's average estimate but falling from a year-earlier profit of $0.28 a share.
One time charges for the quarter included a $3 million hit from the proposed settlement of a securities class action lawsuit, started in fiscal 1994 after some disgruntled shareholders declared the firm violated some U.S. securities laws. (factor that charge back into profits to get a better read on business)jg
Including the charges, profit was $0.12 a share. For the year, Newbridge met the average estimate of $0.69 cents a share excluding charges. Once all charges were factored in, it lost $0.07 a share.
Executives noted Newbridge had had a challenging year in 1997 but after making changes, like restructuring its UB Networks division, the firm looked like it was in good shape.
Chairman, Chief Executive and founder Terencery Matthews told a conference call that ''the company's pretty strong in its forward-looking business aspects.''
The top level of executives was reshuffled, with President and Chief Operating Officer Peter Charbonneau moving into the position of vice-chairman and Alan Lutz taking his former jobs.
Newbridge spokesman Paul Goyette added: ''New blood, new ideas was something that was called for.''
The numbers were released after markets closed. Before the results, shares in Newbridge Networks ended higher on Tuesday, boosted by expectations of stronger fourth quarter results.
The stock gained 1.65 to 41.80 on the Toronto Stock Exchange on Tuesday as whisper estimates -- the unofficial upward or downward revision of quarterly numbers discussed among those in the know --
rose to $0.15 to $0.16, said Rob MacLellan, Kearns Capital analyst.
In New York, the shares rose 1.50 to 29 in heavy trading.
MacLellan, who recently downgraded Newbridge to a rating of reduce, added ''the guys who may have been expecting 15 or 16 (cents) were disappointed, the guys who were expecting 12 (cents) will be
happy (and) the one-time charges will take people by surprise.''
------------
To me it looks like what we want going forward, they took care of past business with working capital, business has picked up and their working on an expanding order backlog. I've got the next target at 34-35. Nice going Canada.. even looks like MacLellan is impressed. jg |
