Able Telecom (ABTE) Message Board

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Technology Stocks : Able Telecom (ABTE)

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To: Mama Bear who wrote (471)	2/16/1999 6:38:00 PM
From: Bill Wexler	Read Replies (1) of 700

The Able telecom fraud announces a disaster: biz.yahoo.com <<Revenues for Able's fiscal year ended October 31, 1998 are $217.5 million with net income of $2.5 million. After taking into account a non-cash charge to retained earnings of $8.0 million related to the beneficial conversion privileges on preferred stock, other non-recurring adjustments associated with Able's obtaining financing for a portion of the purchase price of MFS Network Technologies, and preferred stock dividends, the loss applicable to common shareholders is $5.8 million, or $0.59 per share. On a diluted basis, the loss applicable to common shareholders is $5.3 million, or $0.51 per share. Able is currently analyzing the effects of the year-end adjustments on previously reported quarterly earnings.>>

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