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To: Don Green who wrote (9638)	1/23/2002 12:26:39 PM
From: Nandu	Respond to of 14451

<double post deleted>

To: Don Green who wrote (9638)	1/23/2002 12:27:36 PM
From: Nandu	Read Replies (1) \| Respond to of 14451

Don, your implication that proforma results should be viewed with suspicion is certainly right. In this case, the net (not proforma) result is a $33 million gain, so proforma works out worse. What is omitted from the proforma is the NEC income and $10 million in ERP implementation costs and $5 million in restructuring expense. Considering that the ERP implementation is done and further restructuring is not expected (BB said so in the conf. call) these should be non-recurring, so I don't see a problem. As for revenue, the $364 mill is less the $487 mill in the year ago quarter, but that $487 mill was with a much larger organization and product line. The restructuring that included discontinuing low margin products, reducing employees and spinning off some divisions was expected to reduce revenue. What is important is that expenses have gone down even more and gross margin has increased all the way to 40%. Revenue growth from this posint would be nice, if the organization remains stable