Well the new ones are not worse than the previous ones.
"Excluding restructuring charges of $400,000, inventory write-downs related to discontinued product lines of $550,000, charges related to fixed asset write-downs and idle facilities of $575,000, and the valuation reserve recorded on the Company's deferred tax assets of $2,624,000, proforma net loss for the quarter ended July 4, 1998, was $4,961,000, or ($0.54) per share."
Now, if you include these charges you get a loss of ($0.99) per share. It seems that this Co has already started its realignment plan but the "general and administrative" expense are far too high (51% of gross profit), so more layoffs might be useful and could increase their competitiveness.
Hope we'll see some positive effects in 4Qtr 1998.
Alain J.
biz.yahoo.com |
