Scientific-Atlanta Inc. reported an after-tax bad-debt expense of $55.2 million in
the fourth quarter due to the bankruptcy of Adelphia Communications Corp. It
also had to debook $199.8 million in orders with the company.
Those developments -- coupled with after-tax expenses of $4.8 million
associated with the market-to-market adjustments of equity investments and
restructurings -- resulted in a loss of 10 cents per share.
Excluding these special items, the company earned 28 cents per share.
Bookings for the quarter were $228.1 million, already down 55 percent from a
year earlier. The net bookings after the debooking are $28.3 million.