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To: Oeconomicus who wrote (8939)	3/31/1998 11:45:00 PM
From: Michael Collings	Respond to of 27307

Bob, I didn't write that post. I copied it from Motley Fool message boards. But you are right on several points. First shares used to calculate earnings will be closer to 56 million. I did check the 10K and those were the numbers they gave. I assume since it was filed on the 21st of March that it is more accurate than the numbers in the conference call. I wonder about the 10% General and Administrative numbers myself, maybe the acquisition of Four11 has something to do with it? Possibly they were shooting a high number in the 10K. I would think that this quarter Product Development would be higher than the rest of the year due to the MCI deal so am not surprised by that 17% number. Possibly in the conference call were they giving the year percentages? On the other hand, when was the MCI deal announced? Was it after the conference call? I don't know. In any case, it doesn't look too promising for this quarter does it? But you never know with this company.... I wouldn't advise anyone to jump in and short on this news. But if you are already short this puppy dog, it sure gives you a good feeling, at least for today, right?

To: Oeconomicus who wrote (8939)	4/1/1998 12:04:00 AM
From: Michael Collings	Read Replies (1) \| Respond to of 27307

Bob, just for fun, recalculate your numbers....... with 56 million shares, to make 4 cents you come up with $2,240,000 in earnings. Subtract the 1.2 million money market interest and you need $1 million. That divided by .01 equals $100 million in revenues needed to make the 4 cents. If they overstated G&A by 1% they still need $50 million. And that is only if they improve the gross margins by 1%. Another possibility is that they didn't make their revenue numbers. Let's say they only make 23 million this quarter as opposed to 25 million last quarter. Then 2 million G&A would be closer to 9% than 8%. But that's too much to hope for!