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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (11920)	11/7/1999 12:08:00 AM
From: umbro	Read Replies (2) \| Respond to of 18998

On SRCM, Market Profile's summary of biz. says this: Net loss applicable to Common fell 48% to $22.8 million. Revenues reflect increased industry competition. Lower loss reflects the absence of a $25.9 million impairment of intangible assets charge. That's a new one (and it sounds like it didn't fly with the accountants). Can anyone elaborate on what this might have meant? (negative book value, and $150M market cap. - don't see that very often. Losses exceeded sales, that's kinda different also. Looks like the $13 mil. in cash might keep them afloat for about another quarter at the rate they're going. What the story that's supporting the stock price?)