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Technology Stocks : Harmonic Lightwaves (HLIT) -- Ignore unavailable to you. Want to Upgrade?

To: Hiram Walker who wrote (2068)	4/9/1998 3:33:00 PM
From: Mark Oliver	Respond to of 4134

Here was an interesting note from a report on GTE. I didn't realize GTE had an interest in HFC? "GTE will focus solely on the digital video network"? Charges: GTE will take an after-tax charge of $802M in 1Q related primarily to the above initiatives. Asset writedowns represent $340M of the charge given the writedown of the Airfone unit to net realizable value, writeoff of the analog hybrid fiber coax investment as GTE will focus solely on the digital video network, discontinuance of the Telego wireline/wireless product, and other asset writedowns. Restructuring operations and a headquarters relocation is expected to result in a $142M after-tax charge. A change in accounting principle relating to the company's Canadian operations to reflect the move away from regulatory accounting will result in a $300M extraordinary item. Of the $802M total in charges, approximately $600M will be non-cash.