TLAB/AFCI History.
Hi Eric -
I e-mailed Tom Scottino at TLAB's Investor Relations this morning.
He zipped and e-mail right back, saying that TLAB had indeed sold off parts of their position in AFCI in 2Q98, and 1Q97.
Looking at TLAB's 2Q '98 report:
[TEXT DELETED...]
And now for the explanation: During the second quarter of this year,
Tellabs realized a sizable pre-tax gain on the sale of stock held as an
investment, pursuant to a planned program to reduce its holdings in
Advanced Fibre Communications, a company in which we had made
an early investment. The gain from the sale of the AFC stock
amounted to $73.4 million.
[REMAINING TEXT DELETED...]
From TLAB's report 1Q report in 1997- it's not so obvious, but, armed with the knowledge provided by Tom:
[TEXT DELETED...]
Included in 1997 operating results is a pre-tax gain of $20,803,000 on the
sale of stock held as an investment. After tax, this resulted in a gain of approximately $13,855,000 or
7 cents per share.
[REMAINING TEXT DELETED...]
FULL TEXT @
tellabs.com
BTW, I've never understood why TLAB would want to reduce its stake in AFCI. I've always thought, that, if anything, the opposite made sense.
Hope this helps.
Steve |
