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Strategies & Market Trends : Shorting stocks: High fliers -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (675)	7/7/1999 10:08:00 PM
From: Mad2	Read Replies (1) \| Respond to of 709

Yahoo's earnings excerpted from Wsj I'm a bit amazed that companies try to sweep the amortization costs under the rug. Given Yahoo's wisper was .11 and they hit it, my guess the reaction will be slightly negative. I think the market will look for a reality check. We'll see Best Regards, Mad2 interactive.wsj.com <b.The Santa Clara, Calif., portal-site operator reported a net loss of $15.1 million, or seven cents a diluted share, for the second quarter compared with a pro forma loss of $14.2 million, or eight cents a diluted share, in the year-earlier period. Revenue, meanwhile, more than doubled to $115.2 million from $44.9 million a year earlier. Results of the year-earlier period were restated to reflect the acquisitions of GeoCities, Encompass and Online Anywhere, which occurred during the second quarter. Company Profile: Yahoo! Results for the latest period included charges of $56.13 million related to the second-quarter acquisitions. Excluding those items, the company said it would have posted earnings of 11 cents per share. That topped the consensus estimate of analysts surveyed by First Call for eight cents a share and was in line with whisper numbers. Results for the year-earlier period included a $15 million acquisition-related charge, without which the company would have earned one cent a share. Yahoo's results excluded millions in amortization costs related to the acquisitions of GeoCities and other firms. Intangible assets picked up with acquired operations are amortized over their useful life as an ordinary expense. Although amortization costs are routine business expenses, some firms report what their results would have been without such expenses. On a strict operating basis -- before investment gains, taxes and the like and including all operating costs -- the company said its loss widened to $25.2 million from $13.4 million a year ago. Yahoo's investment income soared to $8 million from $2.2 million a year ago.