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To: broozer who wrote (27306)1/26/2005 4:13:43 PM
From: Robert Douglas  Respond to of 60323
 
check your figures.....I believe they are off...a quick calculation for Q304 shows L&R as a % of total revenues as 10.5% ($42,921 / $407,954) not 8.8%.

That's because I eliminated the one quarter lag. I used the 4th quarter estimated R & L and applied it to the 3rd quarter product revenues.