MOSAID today is also correcting its guidance for the fourth quarter of fiscal 2007 with respect to its level of R&D expense, which did not properly account for expense reductions as a result of the announced restructuring.
As a consequence, R&D expense is expected to be approximately $600,000 lower than guidance, with the resulting positive impact on operating profits of like amount, and improved net earnings of approximately $400,000. Accordingly, the guidance for net income for the fourth quarter of fiscal 2007 is increased to $5.9 million to $6.9 million.
MOSAID also corrected the date of record for its declaration of dividend. The quarterly dividend of $0.25 per share is payable on April 20, 2007 to shareholders of record as of April 2, 2007. -- www.cnxmarketlink.com
Posted February 27th, 2007 by ruzik_tuzik
