1 million after tax) in the first quarter of fiscal 2004, and expects to recognize additional pre-tax non- cash charges
As discussed below, these estimates are not yet final and neither the estimates nor outlook reflect any adjustment for any non-operating cash charges
which may be required in connection with the resolution of stock option-related tax matters, litigation, and regulatory matters, the amount and timing of which are uncertain but which are likely to be material.
Earnings before non- cash charges
for the first half of 1994 were $2,978,000 ($.
However, the $1,595,000 loss from January 31, 2005 was effectively all "Operating Loss plus cash charge
for interest expense" as compared to the all "Operating Loss plus cash charge
for interest expense" for the Quarter ending January 31, 2006 which also included "non-cash charges
" of approximately $430,000 primarily attributed to non-cash beneficial conversion features, amortization and discount charges from the Laurus debt that was not in place last year.
Three Months Ended Six Months Ended March 31, March 31, 2004 2003 2004 2003 Net earnings, as reported $40,585 37,855 42,326 73,871 Non-cash charge
related to conversion to one class of common stock, net of income taxes 5,265 -- 46,325 -- Net earnings excluding non- cash charge
$45,850 37,855 88,651 73,871 Basic net earnings per share, as reported $.
This additional non- cash charge
of $2,078,000 for ICT-Europe increased the quarter's loss by $0.