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Technology Stocks : NewKidCo International (OTC:NKCIF) (TSE:NKC) -- Ignore unavailable to you. Want to Upgrade?

To: esecurities(tm) who wrote (3313)	5/6/1999 6:12:00 PM
From: esecurities(tm)	Read Replies (1) \| Respond to of 4231

INTERNET--(esecurities.W)-- May 6, 1999 - NewKidCo Announces Profitable Q1. NewKidCo International Inc. Announces Profitable First Quarter 1999 Results TORONTO--(BUSINESS WIRE)--May 6, 1999--NewKidCo International Inc. (OTC BB:NKCIF - news; TSE:NKC - news) today reported a profitable first quarter from its continuing line of business, children's video-game software based on popular licensed characters. In December of 1998 the Board of Directors of the Company formally approved the discontinuance of the Company's operations related to the development and publishing of utility, business and consumer software products. The financial statements of the Company, therefore, show all such operations as discontinued. All operations related to the children's video game publishing are shown as continuing operations. Comparisons are not made to the prior year as the Company is now engaged in a fundamentally different business. For the three months ended March 31, 1999, the Company recorded sales of CND $10.2 million. In accordance with Canadian GAAP, the net earnings from continuing operations for the quarter ended March 31, 1999, amounted to CND $1.9 million or 14 cents per share. Under U.S. GAAP, the net earnings from continuing operations for the quarter ended March 31, 1999, was CND $1.4 million or 11 cents per share. The main difference between Canadian GAAP and U.S. GAAP is the accounting treatment of the June 1998 acquisition of the majority interest in NewKidCo, LLC . For the quarter ended March 31, 1999, under Canadian and U.S. GAAP, the Company recorded a net earnings of CND $508,000 from discontinued operations, which primarily relates to the disposal of assets which were previously written off..." SOURCE: &copy 1999 Thursday May 6, 2:55 pm Eastern Time Company Press Release biz.yahoo.com