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Technology Stocks : CMIC- CALIFORNIA MICROWAVE

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To: Rock_nj who wrote (60)	4/27/1999 1:36:00 AM
From: straight life	Read Replies (1) of 67

The company also announced that due to a revenue shortfall primarily in its international satellite communications business, California Microwave expects to record a loss from continuing operations of $5.4 million, or $.36 per share when it reports results April 29 for its third quarter ended March 31, 1999. The operating loss includes $1.9 million, after-tax, in excess manufacturing costs related directly to factory floor reductions, inventory reductions and manufacturing process changes primarily at the company's Tempe, AZ, operations. In addition, a $2.1 million net-of-tax charge for restructuring and other items will be recorded, bringing the total loss to approximately $7.5 million, or $.51 per share. The company indicated in its January 21 second-quarter release that it would be taking a restructuring charge related to severance and factory space reductions in the third quarter.

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