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Technology Stocks : Elamex(ELAMF) -- Ignore unavailable to you. Want to Upgrade?

To: David Seltzer who wrote (225)	10/16/1998 4:10:00 PM
From: rich evans	Read Replies (1) \| Respond to of 276

Earnings are about October 27th according to IR. The cc should be interesting also.Still holding this stock but am underwater by a couple of bucks. Rich

To: David Seltzer who wrote (225)	10/27/1998 9:24:00 PM
From: kolo55	Read Replies (1) \| Respond to of 276

What is your read on the Mexican tax hit of $1.5M ? It appears that they have to pay taxes on foreign currency held (USDs), if that currency increases in value ('gains') against the peso. Was the 'gain' included in the revenues or other income? It doesn't seem to appear on the income statement. Only the provision for the income tax on the gain is spelled out in the report; the company says they had to set aside $1.5M. This increased the effective tax rate significantly. If I'm reading this right, with a normal tax rate like the 28.3% they provided for in the second quarter, the ongoing operations earned about 21 cents a share. Do you think I am interpreting this correctly? Paul