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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: Gary Youree who wrote (2884)11/20/1997 3:18:00 PM
From: Gary Youree  Respond to of 7396
 
Here's part of the release...

WPI Group said today that the company expected to report a loss for the
fourth quarter ended Sept 28. The loss is due to restructuring charges
incurred in connection with the acquisition of Husky computers and
certain one time expenses incurred in the quarter.

... Although our operating business remained healthy, we are deeply
disappointed with the overall financial performance in the quarter...

... we had anticipated a one time gain from the sale of certain assets
that would offset the restucturing cost. Unfortunately, that gain was
not realized...

The company expects to report results for the quarter by Nov 26...



To: Gary Youree who wrote (2884)11/20/1997 5:25:00 PM
From: LzzrdKing  Read Replies (2) | Respond to of 7396
 
I don't think WPIC earings are out till 11/26, that's what DJ said.

This sounds like a one time thing to me. All weak hands shaken out for sure, now we have a whole new set of investors in today.

From what I see, when they bot Husky, they had planned on selling some assets they acquired, but were unable to do so. Thus, the have no gain to offset the purchase of Husky, and thus the charge.


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