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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: taxikid who wrote (8822)	5/15/1998 10:37:00 AM
From: Ploni	Read Replies (1) \| Respond to of 18691

It looks as though Asensio got at least one right in the past 6 months, though it was the one I didn't follow: * * * ErgoBilt Reports Estimated Loss for the Fiscal Year; Indicates Material Adjustments to Previously Reported Quarterly Results DALLAS, May 14 /PRNewswire/ -- While the Company's annual audit is still in process, ErgoBilt (Nasdaq: ERGB) reports its estimated loss is expected to exceed $2 million, or $.32 per share, for its year ended Feb. 28, 1998. A portion of the loss is the result of several accounting errors which have a material impact on previously reported quarterly results, which will be restated. The Company is now in the process of finalizing its year-end results and the impact of the accounting errors on previously reported quarterly results. Several of the adjustments represent errors in accounting practices which were applied throughout the year making the timing of the adjustment more complex. The Company expects to file for an extension with the Securities and Exchange Commission with regard to reporting results for its fiscal year. The Company also announced it expects to report a loss for the first quarter ending May 31, 1998. ErgoBilt, headquartered in Dallas, is a developer and marketer of ergonomic products and technology that improve workplace productivity. The company has two operating units -- BodyBilt, Inc. and ErgoFon'iks, Inc. The company's common shares are traded on the Nasdaq National Market System under the symbol ERGB. * * * Now, why is it that WDRY continues to fly high, despite unusual accounting tricks? Why is it that AVNT has recovered nicely, despite the fact that it allegedly stole its main product from CDN?