To: Voltaire who wrote (12162 ) 4/21/1999 10:05:00 PM From: BigDaddyMac Read Replies (2) | Respond to of 41369
Somebody sent me this " News release " Don't quote me, still searching to see if it is authentic. DOUBT IT EVEN IF IT IS FAKE< DAMN IT SOUNDS GOOD AOL Says Its 'Comfortable' With Expectations For 3rd-Quarter Dow Jones Online News, Wednesday, April 21, 1999 at 19:06 NEW YORK -(Dow Jones)- America Online Inc., the nation's largest online service, is "comfortable" with Wall Street's earnings expectations, excluding one-time items, for its fiscal third quarter ended in March. The Dulles, Va.-based company made the disclosure in documents filed with the Securities and Exchange Commission Wednesday. The mean estimate of analysts surveyed by First Call expect AOL to earn 9 cents a share for the period, compared with the split-adjusted 4 cents a share it posted a year ago. In specifying "stand-alone performance," AOL excluded the effect of its recently completed acquisition of Netscape. In the documents, AOL said it will record a one-time gain of $567 million to account for the sale of both AOL's and Netscape's stakes in Excite Inc. (XCIT). The company said it will also record a pretax charge of $103 million stemming from the Netscape merger and related reorganization efforts. Of the $103 million charge, $78 million is directly related to the merger, while $25 million is for retention and transition costs. AOL also noted in the documents that it has more than $2.6 billion in cash. -By Nancy Beiles; 201-938-5267 Copyright (c) 1999 Dow Jones & Company, Inc. All Rights Reserved. Companies or Securities discussed in this article: Symbol Name NYSE:AOL America Online Market data for delayed quotes and charts is provided by Quote.com, Inc. By using this service, you agree to the terms of the Use Agreement Customer support, quote definitions and a price charts legend are available in Delayed Quotes and Charts Help ©1998 Charles Schwab & Co., Inc. All rights reserved. Member SIPC/NYSE. Unauthorized access is prohibited. Usage will be monitored.