- THE MAGAZINE
The company expects to report a loss for the full fiscal year ended March 31, 2005, in the range of $.77 to $.79 per share (approximately $3.7 to $3.9 million). This will include a valuation reserve of approximately $3.1 million against certain deferred tax assets, and an impairment charge of approximately $500,000 against an investment.
These two adjustments, recorded in the fourth quarter, are non-cash charges. The company is in the process of finalizing year-end audit and financial statement presentations. Final results and full details will be released within two weeks.