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Technology Stocks : Aspect Telecommunications (ASPT)
ASPT 0.00010000.0%Oct 22 9:30 AM EST
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To: corporal spewchunks who wrote (722)1/21/1999 2:28:00 AM
From: Herschel Rubin  Read Replies (2) of 2018
 
John, Sounds like you listened to the Conference Call. Do you have the number?

I was lulled into complacency, thinking the stock has had a chance to adjust to the preannouncement. Thus I didn't bother to call IR to get the CC number as I usually do when I have this much at stake.

I liked your summary.

I've been in other companies that occasionally try to "reset" the street's expectations by making conservative forward-looking statements. Then they can buy back at a good price.

The shareholder lawsuit attorneys never can sink their teeth into a company that is overly conservative and then things turn out to be not so bad. However, there should be some restrictions on the ability of companies to do so when they want to buy back their own shares (Microsoft does this every quarter, in part because they have to regularly buy shares for employee stock options). Kind of hard to prove mal-intent.

Also, how much of the impact to the bottom line will be attributed to the continued revised reporting (per SEC) of the "in-process research and development charges related to the acquisition of Voicetek in May 1998?"

For this quarter, without these charges, the company would have earned 16c instead of 11c - not too shabby considering the malfunctioning North American Division. I would assume that the R&D charges are 5c/quarter going forward also. But these "charges" had technically already been factored in the balance sheet in the June 98 quarter!

The recent article in the San Jose Mercury about Aspect's new marketing makeover was interesting, but the new marketing expenses will impact the bottom line. But this is what they have to do.
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