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Technology Stocks : BMC Software
BMCS 0.00520-36.6%Nov 3 2:14 PM EST
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To: norm chin who wrote (569)2/17/1999 11:52:00 PM
From: Douglas V. Fant  Read Replies (1) of 1492
 
Norm, A note of interest: BMCS states in its SEC 10Q released yesterday that its exposure in SEC -related restatement of in-process research and development charges would be less than $0.01 /share/quarter affected.....

In connection with the normal Securities and Exchange Commission (SEC) review of BMC Software's registration statement filed pursuant to its planned merger with Boole & Babbage, Inc., (Boole) the SEC has requested additional analysis and information pertaining to certain charges for acquired, in-process research and development (IPR&D). The charges being challenged are the $54.4 million DataTools charge in fiscal 1998 and the $11.3 million Envive charge in fiscal 1999. The SEC is reviewing such charges utilizing guidance issued by the SEC in a letter to the American Institute of Certified Public Accountants (AICPA) dated September 9, 1998. If the Company were to revise its treatment of these acquisitions, the impact would be to increase long-term assets and net income in the quarters of the transactions and to increase non-cash amortization expense in quarters subsequent to the transactions. While it is the Company's belief that its original treatment of these transactions was appropriate, it may be required to apply the guidance mentioned above and revise its previously reported results. If such revision is required, the Company estimates that the impact would not exceed $.01 per share, per quarter, which the Company believes is not material to its previously reported results nor its expected future results.
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