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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Grinsell who wrote (8123)	10/9/1998 8:15:00 PM
From: Michael Linov	Read Replies (3) \| Respond to of 16960

We have a settlement , looks like approx. $11M Japan's Sega Cuts Profit Outlook On Stock Losses, 3Dfx Settlement Dow Jones Online News, Thursday, October 08, 1998 at 10:03 TOKYO -(Dow Jones)- Sega Enterprises Ltd. said Thursday it has cut its forecasts for group and parent-only earnings to reflect a one-time loss totaling 4.7 billion yen ($39 million) on the value of its securities holdings and the August settlement of a lawsuit in the U.S. Sega, which makes video-game software, said it now estimates group net profit for the fiscal year ending March 31, 1999, at 3.2 billion yen, down a hefty 36% from its original projection of 5 billion yen. Year-earlier net profit figures for the group weren't available. Sega attributed the downward revision to a 3.3 billion yen securities-valuation loss and its payment of 1.4 billion yen to settle a lawsuit by 3Dfx Interactive Inc. (TDFX) of the U.S. 3Dfx Interactive sued Sega Enterprises and three other companies in 1997, alleging breach of contract, unfair competition and misappropriation of trade secrets, after Sega ended a video-game-chipset contract with 3Dfx and switched to graphics technology developed by Videologic Group Plc. and NEC Corp. (NIPNY). The companies agreed in principle to settle the lawsuit this past August. Sega left unchanged its forecasts for group sales at 325 billion yen and pretax profit at 13.3 billion yen. On a parent-only basis, Sega now sees net profit of 1.2 billion yen for the first half ended Sept. 30 and 6.2 billion yen for the full fiscal year. Previously, the company had forecast 3 billion yen in first-half net profit and 8 billion yen in net profit for the full fiscal year. In the year ended March 31, 1998, Sega reported a net loss of 43.3 billion yen and pretax profit of 11 billion yen on sales of 271.5 billion yen. It didn't provide estimates for parent-only pretax profit and sales for the current year.