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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (5753)	3/21/2001 7:37:19 AM
From: Bob Frasca	Read Replies (1) \| Respond to of 6531

Earnings actually improved. Not what you expected is it Mr. Flintstone. Do you understand why? "On a pro forma presentation basis, diluted earnings per share for the year improved by $.01, as the reduction of revenue was a non-cash charge." Here's a more complete statement from a different press release. "As revised on a GAAP (Generally Accepted Accounting Principles) basis for the year ended December 31, 2000, Broadcom's reported loss per share for the year improved by two cents, the company said. The GAAP loss per share for the fourth quarter was unchanged. On a pro-forma basis, diluted earnings per share for the year improved by 1 cent, while pro forma diluted earnings per share for the fourth quarter were unchanged, it added. The essence of the new accounting methodology is to eliminate balance sheet entries for purchased intangible assets and goodwill related to the assumed agreements and warrants as well as income statement charges for amortisation of those assets, Broadcom said. "