Asia woes sink Electrohome results

Article Abstract:

Electrohome Ltd., a Kitchener, Ontario-based manufacturer of high-end projection equipment, reported a C$1.7 million loss for the third quarter ended May 31, 1998, compared with a C$2.1 million profit in the same quarter in 1997. Revenue, meanwhile, declined 17% to C$21 million. The disappointing results were blamed on the Asian economic crisis. The lower-than-expected figures have prompted analyst Rob Millham tof CM Oliver & Co. in Vancouver, British Columbia, to downgrade his full-year projection from a loss of 49 cents a share to 59 cents a share, or about C$4.8 million.

Comment:

Reports a C$1.7 million loss for the third quarter ended May 31, 1998, compared with a C$2.1 million profit a year ago

Photographic and Photocopying Equipment Manufacturing, Sales, profits & dividends, Projectors & Rear Screen Viewers, Projectors, Electrohome Ltd.

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Livent investor plans to sell share block

Article Abstract:

Waterloo Capital Group, a property development firm based in Toronto, Ontario, plans to sell up to 344,500 shares in Livent Inc., a Toronto-based troubled entertainment company. The total represents the entire stake of Waterloo in Livent. Trading of Livent's shares has been stopped since Livent announced on Aug. 10, 1998, that it had uncovered accounting irregularities. Livent, which suspended co-founders Gart Drabinsky and Myron Gottlieb, will have to restate financial results since 1996. The company will also take a significant writedown in the second quarter of 1998.

Comment:

Plans to sell up to 344,500 shares in Livent Inc, a Toronto-based troubled entertainment company

Asset sales & divestitures, Motion Picture and Video Industries, Motion Picture & TV Production, Waterloo Capital Group

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Markets freeze Livent shares

Article Abstract:

Livent Inc.'s shares will not be able to trade unless the firm supplies more details on its accounting anomalies. Steve Kee, spokesman for the Toronto Stock Exchange (TSE), stated that Livent's stock will remain frozen until TSE receives additional information on the scope of the firm's accounting problems. The Nasdaq Stock market has also ceased trading Livent stocks until the latter has fully satisfied the former's request for more information. Livent insiders believe that the company's accounting problems may involve millions of Canadian dollars.

Comment:

Its shares will not be able to trade unless the firm supplies more details on its accounting anomalies

Securities issued, listed, Securities Brokerage, Stockbrokers

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