Here is the unpleasant report:|
CARROLLTON, Texas, Dec 18 (Reuters) - Ultrak Inc said Thursday it expected to post after-tax charges of about $2.7 million, or $0.19 per share, in the fourth quarter.
The provision will include a $1.2 million non-recurring charge related to the write-off of obsolete computer hardware and software.
The charge is to be partially offset by a gain of about $750,000, or $0.05 per share, from the sale of investments.
Sales in the fourth quarter, which ends Dec. 31, are expected to be between $51 million and $53 million. After-tax earnings from operations and other income before the charges and gain are expected to be between $0.03 and $0.05 per share.
Ultrak, a marketer of security alarms, said the earnings projections are below earlier expectations because of softer-than-expected sales in November and higher expenses, primarily associated with product development.
The analysts' consensus estimate for the fourth quarter is $0.15 per share, according to First Call.
The company said it expected sales in the first quarter to be "more or less" approximate to those posted in this year's fourth quarter.
Operating earnings in the first quarter of 1998 are expected to be comparable to those in this year's fourth quarter, the company said.
First Call estimates for the first quarter were not immediately available.
The fact that the company can not keep their home page up-to-date, that they can't get their news out on Yahoo, Excite, PR Business Wire, etc, that the Chairman has a hard time filling out SEC statements - factors that one would normally ignore in judging a stock-seem to have some relevance for Ultrak investors. It appears there is a problem with management?? ALAS! Again, fellow (Mr.&Ms.) investors, it comes down to not having the proper information from companies. We should look to invest in companies that keep more of their machinations in the open. We always seem to make excuses for their reporting policies, when we( part owners of the company) should be yelling at them to give us the facts.