Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Baker who wrote (1656)	7/30/1998 2:49:00 PM
From: E_K_S	Read Replies (1) \| Respond to of 1820

This was a Reuters story... per the article: "....and the write-off of inventory...". I just wondered how much it was this time. It seemed to me that they buried this charge in the one time write down. Why not this has not stoped management in the past??? Mylex Corporation (MYLX)(http://www.infobeat.com/stories/cgi/story.cgi?id=2555294316-d8d) Late yesterday, MYLEX CORP reported a loss for the second quarter and said it expected to take a charge of as much as $4.5 million in the current quarter to pay for its previously announced restructuring and job cuts. Mylex said it expected to take a one-time, pre-tax charge of $4.0 million to $4.5 million for the quarter ended Sept. 26. This will include restructuring costs related to severance pay, facilities consolidation, the write-off of assets in affected operations and the write-off of inventory. The charges for all restructuring actions will be taken in the 3Q. (Reuters 12:29 AM ET 07/29/98)