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Non-Tech : CORESTAFF (CSTF), now MMWW -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (238)	12/13/1999 8:11:00 PM
From: Glenn Petersen	Respond to of 257

XPDR files an amended S-1, adjusting its goodwill amortization period to 20 years. MMWW will have to restate its 10-Qs. If I am not mistaken, in earlier filings they were amortizing it over 40 years. biz.yahoo.com Monday December 13, 6:45 pm Eastern Time Company Press Release SOURCE: Metamor Worldwide, Inc. Metamor Amends Xpedior Registration Statement HOUSTON, Dec. 13 /PRNewswire/ -- Metamor Worldwide, Inc. (Nasdaq: MMWW - news), a leading provider of information technology (IT) solutions, today announced that it has amended the Registration Statement of Xpedior Incorporated, its eBusiness services unit, to resolve certain accounting matters with the Securities and Exchange Commission. In the amended filing, Metamor reduced the goodwill amortization period for Xpedior to 20 years and changed the estimated fair value of Xpedior's stock used in measuring the non-cash compensation charge for stock options issued prior to the initial public offering. Metamor and Xpedior have agreed to these non-cash charges to allow Xpedior to proceed in the registration process with the SEC. These non-cash accounting adjustments relate to Xpedior and will not change the accounting treatment for Metamor's other business units. However, because Xpedior is a majority-owned subsidiary of Metamor, the effects of these adjustments will be reflected in Metamor's consolidated financial statements and Metamor will restate its Forms 10-Q for the 1999 quarterly periods. The effect on periods prior to January 1, 1999 was not material to Metamor's results of operations or its financial condition. For the nine months ended September 30, 1999, the charges for these non-cash adjustments total $3.7 million, which reduce Metamor's earnings per share by $0.08 per share. For that period, Metamor reported income from continuing operations of $0.49 per share and earnings per share (including discontinued operations) of $1.12. A registration statement relating to the Xpedior offering has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Metamor Worldwide offers customers a broad range of information technology solutions including eBusiness, ERP implementation, application maintenance and support, business process outsourcing, application development and hosting, network integration, training and technical documentation. With offices across the U.S. and abroad, Metamor's flexible delivery of value-added services is provided through a combination of geographic presence, industry focus and specialized technology practices. For further information regarding Metamor Worldwide, Inc., free of charge via fax, dial 1-800-PRO-INFO and enter ``MMWW'. Metamor Worldwide, Inc. can be reached on the Internet at www.metamor.com . SOURCE: Metamor Worldwide, Inc.