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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: IceShark who wrote (73206)	2/28/2001 3:33:53 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

could be..i don't know. maybe he's got the char coal cross to ward off evil sellers? -g- POS has more lives than a cat. thank God i'm not in it...i'm in nice, safe ootm March SnP puts...-g- widows and orphans stuff!

To: IceShark who wrote (73206)	2/28/2001 5:38:08 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 436258

Ice, Gateway revised 2000 earnings down by 45%! Can you smell fish? <<In addition, during the fourth quarter Gateway adopted Securities and Exchange Commission Staff Accounting Bulletin No. 101 (SAB 101), which provides specific guidelines on revenue recognition timing, and retroactively changed its policy on revenue recognition for the year, so as to recognize revenue on delivery rather than shipment of product. Also as a part of the revised results, the company increased by $75 million the fourth quarter pre-tax charge to earnings related to the write-down of the company's investments in technology-based companies. The impact on earnings of the restatement and revision of previously announced fourth quarter results lowered full-year net income by about $74.5 million, or $0.22 per share. Approximately $0.14 of this impact is related to the write-down of such investments in the fourth quarter. Approximately $0.03 is related to an increase in the loan-loss reserve on its finance receivables portfolio due to a change in methodology applied, and $0.03 due to other accounting matters. Other accounting matters primarily relate to revenue recognition adjustments and also include the correction of certain accounting irregularities relating to a foreign subsidiary that were immaterial in amount. The adoption of SAB 101 had an impact of $0.03 in the first quarter with an offsetting benefit of $0.01 for the fiscal year 2000. As a result of the full year changes, which include adoption of the new accounting principles, Gateway reported fiscal 2000 profits of $241.5 million on revenues of $9.6 billion, or $0.73 per diluted share, a decrease of 45 percent from 1999. Operating income in 2000 was $511.3 million, or $0.96 per diluted share, a decrease of 19 percent from 1999. Further information on these adjustments is shown on the attached financial tables.>> biz.yahoo.com