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Technology Stocks : Westell WSTL -- Ignore unavailable to you. Want to Upgrade?

To: mike cobble who wrote (10810)	5/14/1998 10:18:00 PM
From: bill c.	Read Replies (1) \| Respond to of 21342

Mike: After looking at the Westell report.... ....For the three months ended March 31, 1998, the loss from continuing operations was $6.4 million, or 18 cents per share, compared to a loss of $4.3 million, or 12 cents per share, in the same quarter last year. The increased loss was expected and was due mainly to a valuation allowance of $2.9 million for deferred tax benefits generated during the quarter. Tax benefits will still accrue to the company, but since the value of the resulting deferred tax asset would have exceeded the value of tax planning strategies available, this valuation reserve was required in accordance with Generally Accepted Accounting Principles.... Loss from continuing 4Q98 4Q97 operations before taxes (6,367) (7,368) Benefit for income taxes -- (3,030) Effective tax rate 0.0% 41.1% Loss from continuing operations $(6,367) $(4,338) Basic and diluted loss per common share from continuing operations (0.18) (0.12) NM biz.yahoo.com Westell didn't take the tax break on th 6.367million loss for this quarter. There was also that one time charge of $600,000 granted to Gary Seamans for his retirement.... until later.