The company says LDExchange has been unable to achieveprofitability due to a difficult operating environment. "As MicroGeneral has evolved over the past couple of years, the LDExchangebusiness has become of limited strategic value, has showndiminished synergy with the core Micro General software servicesbusinesses, and has been a significant drain on earnings," saysDale Christensen, Micro General's CEO.
Micro General says it expects to report a charge fordiscontinued operations of between $4.5 million and $5.5 millionprior to income tax benefit. This will be primarily a non-cashcharge resulting from the write-off of goodwill associated with theLDExchange acquisition in 1998 and also from the write-down oftelecommunications equipment.
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