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Technology Stocks : Audio and Radio on the Internet- NAVR -- Ignore unavailable to you. Want to Upgrade?

To: TokyoMex who wrote (252)	7/21/1998 4:59:00 PM
From: Urlman	Read Replies (1) \| Respond to of 27722

Good stuff Mex...thanks for the dig -Urlman (EOM)

To: TokyoMex who wrote (252)	7/21/1998 11:13:00 PM
From: simarx	Read Replies (1) \| Respond to of 27722

Thanks for the posts. Made for some interesting reading. What I found of particular interest is the following: Our price target assumes consideration for both the earnings of Navarre's core distribution business and for a retained minority stake in NetRadio. General. Our earnings model assumes that Navarre sells at least 50% of NetRadio to the public sometime during the third (December) quarter of FY 99. Subsequent to a public offering of at least 50% of NetRadio, Navarre would not have to consolidate NetRadio's operating results for financial reporting purposes. Consequently, our FY 99 earnings model assumes that NetRadio's operating results are included in first and second quarter operating results, and not included in third and fourth quarter operating results. Consequently, we have assumed lower levels of operating expenses in our projected operating results in the third and fourth quarters. If Navarre does not sell at least 50% of NetRadio to the public, it will include NetRadio's operating results in its income statement for the entire year, likely resulting in higher expense levels in the third and fourth quarter than we have projected.