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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: Jonathan Bird who wrote (11211)	1/13/1998 9:56:00 PM
From: Robert T. Quasius	Respond to of 12298

If you compare the earnings per common share in 1996 and 1997, you will notice that the numbers are different in 1996 ($1.37 and $1.10), and the same in 1997 (-$1.67 and -$1.67). From the news release, the quantity of shares outstanding are the same in 1997, and different in 1996. The only way that I can interpret this is that the earnings per are already fully diluted in 1997. Either that, or there is a mistake in the news release, which would be a big blunder indeed! Perhaps someone can call IR tommorrow and clarify.