As Marty Rubin posted, Zacks has -4 cents, and First Call has -6 cents.
As some of the longs are speculating, the loss may not matter too much,
if people decide to focus on the positive.
Below is what Dow Jones said.
---------------------------------------------------------------
Mrv Communications Inc.
Dow Jones Newswires -- February 16, 1999
MRV Commun 4Q Net 1c/Diluted Shr On Items Vs 25c
MRV Communications Inc. - Chatsworth, Calif.
4th Quar Dec. 31:
1998 1997
Revenue $74,883,000 $48,400,000
Net income a 239,000 7,111,000
Avg shrs (basic) 26,637,000 26,315,000
Avg shrs (diluted) 30,207,000 28,432,000
Shr earns (basic)
Net income a .01 .27
Shr earns (diluted)
Net income a .01 .25
a. Includes a restructuring charge of $7.5 million; a write-down of discontinued products of $3.1
million; and a gain of $4.4 million on the repurchase of convertible notes. Excluding these items, the
company lost $2.4 million, or 9 cents a share.
Year Dec. 31:
1998 1997
Revenue $264,075,000 $165,471,000
Net income b (20,106,000) 22,585,000
Avg shrs (basic) 26,532,000 23,670,000
Avg shrs (diluted) 26,532,000 25,734,000
Shr earns (basic)
Net income b (.76) .95
Shr earns (diluted)
Net income b (.76) .88
Figures in parentheses are losses.
b. Includes a charge of $20.6 million for purchased in-process technology; a charge of $15.7 million
for restructuring; a writedown of discontinued products of $3.1 million; and a gain of $4.4 million on
the repurchase of convertible notes. Excluding these items, the company earned $14.9 million, or 56
cents a basic share and 53 cents a diluted share.
MRV Communications Inc. (MRVC) said the $20.6 million charge for purchased in-process
technology is adjusted from $30.6 million, which the company reported in the first three quarters of
1998.
The company is now classifying $9.9 million of these costs as intangible assets.
MRV Communications said it made the change due to guidance from the Securities and Exchange
Commission regarding valuation methodology.
The company expects significant improvement in margins in the next two quarters.
MRV Communications makes and markets optical network systems and parts. |
