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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (7902)	4/22/2002 11:46:48 PM
From: Rocket Red	Respond to of 11802

BCI's net loss from continuing operations applicable to common shares was $70 million for the quarter, compared to a normalized net gain of $22 million in the fourth quarter of 2001. With about 6 billion shares out now at .26 cents = the same dollar values at the all time highs!

To: Al Collard who wrote (7902)	4/22/2002 11:50:46 PM
From: Rocket Red	Read Replies (2) \| Respond to of 11802

BCI reports $69.7M loss on continuing Brazilian operations via COMTEX April 22, 2002 MONTREAL, Apr 22, 2002 (The Canadian Press via COMTEX) -- Bell Canada International Inc. has warned of a debt crunch while reporting first-quarter net earnings of $603.2 million thanks to a $672.9-million accounting gain on discontinued operations in its shrunken Latin American mobile-phone empire. The quarter's 25-cent-a-share net profit compared with restated year-earlier earnings of $156.2 million, $1.98 per share; BCI undertook a large share issue in February. More realistically, the BCE Inc. subsidiary said it lost $69.7 million on continuing operations in the first three months of 2002, compared with a year-earlier 'normalized'loss on continuing operations of $221.2 million. Throughout its earnings release - issued Monday night long after the close of business - Bell Canada International cautioned that many of its numbers lack any standardized meaning under generally accepted accounting principles. Revenue for the quarter was $136.7 million, up from 'normalized'year-earlier revenue of $132 million, 'mainly due to subscriber growth, which was partially offset by the unfavourable translation impact of a 13 per cent devaluation of the Brazilian real against the Canadian dollar . . . and a decline in average revenue per subscriber.' The un-normalized year-earlier revenue figure was $37.3 million. BCI said its cash and credit 'should be sufficient to enable the corporation to meet its financial obligations to March 2003.' However, 'significant remaining financial obligations thereafter, as well as any investment requirements, will have to be settled with the proceeds from asset sales or new financings.' And at the Telecom Americas operating-company level, additional borrowing is needed this year, with no assurance these funds will be forthcoming, BCI said. 'In the event that such operating companies default on debt which leads to the acceleration of the repayment of that debt, this could lead to an acceleration of the amounts outstanding under BCI's credit facility.' Through Telecom Americas, BCI operates four mobile-phone companies in Brazil, claiming 4.5 million subscribers - up from 3.6 million 'normalized'subscribers at the end of March 2001.