i to spoke with the company yesterday and as i understand the...

i to spoke with the company yesterday and as i understand the position they have 2 bad contracts from last year that lowered profits for 02 that they expect to book around 7 to 8 million dollars into the second half 03 from a negotiated settlement .the two contracts from this year that may be a problem are due for completion this year and will be the subject of arbitration to come to a settlement .as you say they have a strong balance sheet with over 100 million dollars net cash an asset backing of .47 .48 cents a share and lotsof work on hand .clo have some 60 odd contracts on the go at the moment and the company said it was a fact of commercial life that contract disputes happen from time to time .they also said that even if they book a loss for the first half and a lower profit than last year they are in a position to maintain the dividend .wrongway