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To: Howard R. Hansen who wrote (26377)7/15/2004 9:28:43 AM
From: Charlie Smith  Respond to of 60323
 
down 13% sequentially; but remember, royalty collection happens with a 1 quarter lag and calendar Q4 is the biggie.

Yr/Yr royalties up 104%

btw, now is when the short interest number may have some meaning...



To: Howard R. Hansen who wrote (26377)7/15/2004 4:36:13 PM
From: sdpjf  Respond to of 60323
 
Howard,

Royalty income was down in Q2 as expected. The royalties are accounted for in a different manner in Q1 due to year end. They always warn that the royalty income for Q2 will be less than Q1. On the other side of the coin they always
note that, the year end Quarter will be the biggest for royalties. In this case it is best to compare with Q2 of 03. Does anyone have that number?

Peter


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