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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: WhatsUpWithThat who wrote (14054)	5/21/1999 10:19:00 AM
From: Lola	Read Replies (1) \| Respond to of 62347

Anybody know when WEB will open for trading?<eom>

To: WhatsUpWithThat who wrote (14054)	5/21/1999 10:23:00 AM
From: Brennan Wilkie	Read Replies (1) \| Respond to of 62347

Question for EXPERIENCED users only, could mean big bucks, a NYSE question: Read this: EL SEGUNDO, Calif.--(BUSINESS WIRE)--May 13, 1999--Bell Industries, Inc. (NYSE:BI) today reported results from continuing operations for the first quarter ended March 31, 1999. The company also declared an initial cash distribution of $5.70 per share, payable June 8, 1999 to shareholders of record on May 25, 1999. The payment represents the first portion of the previously announced planned distribution of the net proceeds from the recent sale of the company's electronics distribution unit and the disposition of certain real estate properties. The company plans to distribute additional cash of approximately $1.30 per share following the sale of remaining real estate properties associated with the electronics distribution business. For the 1999 first quarter, net sales rose 21% to $54.2 million from $44.9 million last year. Income from continuing operations for the first quarter of 1999 was $530,000, or $.06 per share. In the first quarter of 1998, the Company recorded a loss from continuing operations of $1.9 million, or $.20 per share, which included substantially higher corporate costs and interest expense required to support Bell's former businesses. Tracy A. Edwards, who was elected president and chief executive officer in February, said significant progress was achieved on the company's corporate resizing program during the first quarter with corporate costs down over 70% to $924,000 from $3.2 million a year ago. In addition, net interest expense was $360,000 compared to $3.5 million in the first quarter last year. The company retired its outstanding debt with the proceeds from sale of its electronics distribution business in January 1999. On an operating basis, Edwards said the systems integration group, Bell's largest business unit, registered a 26% increase in sales to $38.7 million. Operating income for this group declined slightly to $1.2 million, principally reflecting continued margin pressures for computer products offset by positive growth in the group's services business. Revenues and profits from services were up over 30% for the first quarter. Edwards noted that the group will continue its strategic shift in building the services business while providing a comprehensive offering of microcomputer and network products for its clients. Bell's recreational products group posted a strong first quarter, with sales rising 13% to $11.1 million and operating income increasing 35% to $545,000. The company's manufacturing segment posted sales of $4.3 million, approximately equal to that of last year, and operating income of $376,000, down from $653,000 a year ago, which reflects the continuing margin pressures in electronics manufacturing. "While much has been accomplished in a relatively short time, many challenges still remain," said Edwards. "With respect to our real estate, we have completed the sale of two properties, and we currently are evaluating offers that have been received on each of our remaining properties. Management is working diligently to reposition the company and further reduce corporate costs, as we thoroughly explore strategies to enhance share value. In addition to these efforts, we are pleased to declare this significant cash distribution arising from the recent sale of Bell's electronics distribution business." Bell's primary business is the systems integration group, a multi-regional provider of integrated computer technology solutions for large and medium-sized organizations. Bell also distributes after-market parts and accessories to the recreational vehicle market and manufactures specialized products for the computer and electronics industry. Certain matters discussed in this news release contain forward looking information that involves risks and uncertainties that could cause actual results to differ materially from current trends. These include, but are not limited to, the timing and execution of the company's transition plan and strategic shift in its systems integration business, its ability to further reduce corporate expenses and sell certain real estate assets, its success in executing strategies to enhance share value, its plan with respect to the cash distributions to shareholders, and other factors described in its public filings. DOes this mean people holding shares will get 5.70/share??? share price is 10.70 now.