STEAMROLLER'S DAYTRADES Message Board

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Strategies & Market Trends : STEAMROLLER'S DAYTRADES

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To: STEAMROLLER who wrote (1550)	6/3/1999 4:54:00 PM
From: STEAMROLLER	Read Replies (1) of 1561

Alliance expects $52 mln gain on Maverick deal NEW YORK, June 3 (Reuters) - Memory chip maker Alliance Semiconductor Corp. on Thursday said it would post a fiscal first quarter gain of around $52 million on the sale of Maverick Networks to broadband communications chip maker Broadcom Corp. . The San Jose, Calif. company said it would report the $52 million pretax, nonoperating gain on its investment in Maverick based on Broadcom's closing price of $95-3/4 on May 31, the day the acquisition closed. Alliance's first quarter ends July For the quarter ended June 30 1998, the company reported a net loss of $14.68 million, including a $17 million pretax charge, or a loss per share of $0.36. The proposed merger transaction was originally announced by Broadcom on January 25. Under the deal, Alliance will receive 538,961 shares of Broadcom's Class B Common Stock. Company officials were not immediately available to comment further.

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