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Technology Stocks : CellularVision (CVUS): 2-way LMDS wireless cable. -- Ignore unavailable to you. Want to Upgrade?

To: John P. Morin who wrote (1399)	3/4/1998 6:49:00 PM
From: gtc123	Read Replies (1) \| Respond to of 2063

I received this e-mail from Charlie Garber regarding 4th Quarter conference call. The short of it is that it should take place in the last week of March, and this is typical: Larry, The conference call at year-end is not on the same schedule as other quarters because the SEC filing dates are different. Quarterly reports to the SEC are due within 45 days of the end of the Company's fiscal quarter (which in the case of CVUS equates to calendar quarters since our fiscal year is the calendar year). Therefore, we announce our quarterly earnings and have the conference call coincident with the 10-Q filings, which generally occur between the 10th-15th of May, August and November. At year-end, however, the SEC filing date for the annual report on Form 10-K (there is no quarterly report to the SEC at year-end) is within 90 days following year-end, due to the need for the external auditors to complete their audit and other related procedures (e.g., verifications of balances, etc. from third parties that inevitably take time), and to provide management additional time for the completion of the annual 10-K, which is far more detailed and time-consuming than the 10-Qs at quarter's end. (In addition to the above, most accounting firms, ours included, provide the Company a better rate for the audit if we do not demand an expedited completion in February. We saved about $10,000 this year by getting the results in mid-March instead of February, which I believe was a good savings of shareowners' money.) Given the above, we have always announced the annual earnings at the time of the 10-K filing, which for the 1996 fiscal year occurred in late March, 1997. Similarly, I anticipate that we will be announcing the 1997 annual results in late March (likely between March 25th and March 31st) this year for the same reasons. This may seem like a long answer to a very simple question, but I wanted you (and any other investors that you may converse with) to know that: 1. There is nothing unusual about the timing of this quarter's reporting versus the past. 2. We believe the schedule for the annual earnings announcement is in the best interests of our shareowners, given the substantial savings associated with this timing. I will be finalizing the date for our earnings announcement with The Tierney Group, our PR/IR firm, in the near future. By copy of this e-mail to them, I will have them give you a call to advise of the date as soon as it is set. In the meantime, if you have any other questions, please feel free to refer them at any time to either Meagan O'Shea or Gretchen Roede at Tierney (215) 732-4100. Thanks again for your interest in CellularVision USA, Inc. Regards.