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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI) -- Ignore unavailable to you. Want to Upgrade?

To: Brian Nichols who wrote (1957)	3/22/1999 8:48:00 PM
From: david james	Read Replies (2) \| Respond to of 3541

Go to the last 10q and look at the income statement. You will see 31 cents for the first 9 months. freeedgar.com The confusion comes from the fact that the way they did the acquisitions, the earnings and increase in the number of shares is backdated to previous quarters. So the 43 cents includes total earnings for the year for all the acquisitions, as well as the increase in number of shares. One needs to remember that the auditors are giving their full audit to only the 10k. This is relatively common, especially when smaller companies are using big name auditors (e.g., BDO). They give guidance on the 10q, but they sign their names to only the 10k, and for them, they don't particularly care as to the quarter the earnings came - they are auditing only for the year, and figuring earnings for the year and taxes for the year. It is possible that in the previous quarters, the company overestimated or underestimated their quarterly earnings by their interpretation of the rules. And with the acquisitions that occured, the rules would be complicated. The auditors calculate only the earnings for the year, and this is what IFCI reported. What matters is the 43 cents, which is a strong number and should dispel some of the rumors that Southern's earnings would seriously hurt them. My guess is that all those institutions that have been accumulating do have plans for IFCI. Hopefully the plan is to move it up sooner than later. But they are in control now. Ask is at 7 1/2 - slightly up for the day. David