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EXHIBIT 99.05
RESTATEMENT OF EARNINGS PER SHARE UNDER STATEMENT OF
FINANCIAL ACCOUNTING STANDARDS NO. 128
In February 1997, the Financial Accounting Standards Board issued Statement of
Accounting Standards No. 128, "Earnings per Share" (SFAS 128). SFAS 128 replaced
the calculation of primary and fully diluted earnings per share with basic and
diluted earnings per share. Unlike primary earnings per share, basic earnings
per share excludes any dilutive effects of options, warrants and convertible
securities. Diluted earnings per share is very similar to the previously
reported fully diluted earnings per share.
Restatement of selected financial data is for the quarter ended October 31, 1997
and the quarters in each of the years ended July 31, 1997 and July 31, 1996, and
the year ended September 30, 1993, ten months ended July 31, 1994 and the years
ended July 31, 1995, 1996 and 1997, and related disclosures as prescribed by
SFAS 128, "Earnings per Share" for the three years ended July 31, 1997.
QUARTERLY INFORMATION
The following information restates loss per share amounts under Part I Item I of
Form 10-Q for the quarter ended October 31, 1997.
Quarter Ended
October 31, 1997
-------------------
Loss per share as $(0.27)
previously presented
Loss per share
restated:
Basic:
Continued operations $(0.27)
Total $(0.27)
Diluted:
Continuing operations $(0.27)
Total $(0.27)
The following information restates earnings loss per share amounts under Item 6
of the Form 10-K for fiscal 1997 for the quarters in each of the fiscal years
ended July 31, 1997 and July 31, 1996.
Fiscal 1997
Quarters Ended
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October 31 January 31 April 30 July 31
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Earnings (loss) per share as
previously presented $(0.61) $2.44 $0.01 $(0.42)
Earnings (loss) per share
restated:
Basic:
Continuing operations $(0.61) $0.96 $0.01 $(0.42)
Total $(0.61) $2.50 $0.01 $(0.42)
Diluted:
Continuing operations $(0.61) $0.94 $0.01 $(0.42)
Total $(0.61) $2.44 $0.01 $(0.42)
2
Fiscal 1996
Quarters Ended
--------------------------------------------------
October 31 January 31 April 30 July 31
--------------------------------------------------
Earnings (loss) per share as
previously presented $(0.46) $0.46 $(0.01) $(0.48)
Earnings (loss) per share
restated:
Basic:
Continuing operations $(0.42) $0.53 $ 0.03 $(0.46)
Total $(0.46) $0.49 $(0.01) $(0.48)
Diluted:
Continuing operations $(0.42) $0.50 $ 0.03 $(0.46)
Total $(0.46) $0.46 $(0.01) $(0.48)
FISCAL YEAR INFORMATION
The following information restates earnings per share amounts under Item 6 of
the Form 10-K for fiscal 1997 for the year ended September 30, 1993, ten months
ended July 31, 1994 and the years ended July 31, 1995, 1996 and 1997.
Ten Months
Ended Year Ended
Years Ended July 31, July 31, September 30,
-----------------------------------------------------------
1997 1996 1995 1994 1993
-----------------------------------------------------------
Earnings (loss) per share as
previously presented $ 1.44 $(0.46) $(1.07) $(5.34) $0.40
Earnings (loss) per share
restated:
Basic:
Continuing operations $(0.06) $(0.32) $(1.07) $(5.34) $0.43
Total $ 1.47 $(0.46) $(1.07) $(5.34) $0.43
Diluted:
Continuing operations $(0.06) $(0.32) $(1.07) $(5.34) $0.40
Total $ 1.44 $(0.46) $(1.07) $(5.34) $0.40
SFAS 128 DISCLOSURE
The calculation of Basic and Diluted earnings per share for each of the three
years ended July 31, 1997 are as follows:
Years Ended July 31,
------------------------------------
1997 1996 1995
------------------------------------
(in thousands, except per share amounts)
Net income (loss):
Continuing operations $(2,932) $(14,355) $(44,296)
Total $68,308 $(20,699) $(44,296)
Weighted-average common
shares - Basic 46,424 45,149 41,411
Effect of dilutive stock
options 1,024 -- --
Adjusted weighted-average
common shares and assumed
conversions - Diluted 47,448 45,149 41,411
Earnings (loss) per share - Basic:
Continuing operations $ (0.06) $ (0.32) $ (1.07)
Total $ 1.47 $ (0.46) $ (1.07)
Earnings (loss) per share - Diluted:
Continuing operations $ (0.06) $ (0.32) $ (1.07)
Total $ 1.44 $ (0.46) $ (1.07)