Lernout & Hauspie Receives Comments from SEC Relating to Routine Review of Recent Registration Statements.IEPER, Belgium and BURLINGTON, Mass.--(BUSINESS WIRE)--Dec. 1, 1998--Lernout & Hauspie (Nasdaq:LHSPF) (Easdaq:LHSP LHSP List Hosting Service Provider LHSP Left Handed Starting Pitcher ) (L&H), a worldwide market leader in speech and linguistic technologies, products and services today announced that it has received comments from the Securities and Exchange Commission relating to recent submissions of two registration statements. L&H submitted these registration statements to cover resales of its common stock L&H offered to complete its acquisitions of Kurzweil Educational Systems Kurzweil Educational Systems, Inc. is an American based company that specializes in providing reading and writing software to assist people who are blind or partially sighted, or who have learning disabilities, such as dyslexia and Attention Deficit Disorder. , Inc. and Tiksoft LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control in September 1998 and October 1998, respectively. As L&H indicated previously in its earnings release for the third quarter of 1998, the Securities and Exchange Commission recently published guidelines for the determination of write-offs of in-process research and development. As reported in that release, L&H adjusted its write-offs of in-process research and development for the acquisitions it completed in the third quarter of 1998 in response to these guidelines. Some of the SEC's comments relate to L&H's calculations of write-offs of in-process research and development for acquisitions it completed dating back to November 1996. L&H may be required to reduce its in-process research and development write-offs for these acquisitions in light of the SEC's guidelines. Although L&H cannot predict the outcome of its review by the SEC, a reduction of these write-offs could result in a corresponding increase in the amount of goodwill and applicable amortization expense associated with these acquisitions. About Lernout & Hauspie Lernout & Hauspie Speech Products (L&H) is a global leader in advanced speech and language solutions for computers, automobiles, telecommunications, embedded products, consumer goods and the Internet. The company is making the speech user interface (SUI Sui (swā), dynasty of China that ruled from 581 to 618. This short-lived dynasty reunified China in 589 after 400 years of division and laid the foundation for further consolidation under the T'ang dynasty. ) the keystone of simple, convenient interaction between humans and technology, and is using advanced translation technology to break down cultural barriers. L&H's products and services originate in four basic areas: automatic speech recognition (ASR (Automatic Speech Recognition) Using voice recognition to replace keypad entry for telephone voice menus. Typically used to speak the digits 0 through 9 insted of keying them, ASR systems may be able to recognize a limited vocabulary. See voice recognition and AVSR. ), text-to-speech (TTS (1) See text-to-speech. (2) (Transaction Tracking System) Software that monitors a transaction until completion. In the event of a hardware or software failure, it ensures that the database is brought back to its former state before the attempt to ), digital speech and music compression (SMC SMC Saint Mary's College SMC Santa Monica College SMC Solaris Management Console SMC Smooth Muscle Cell SMC Small Magellanic Cloud (also see LMC) SMC Safety Management Certificate (maritime shipping) ) and text-to-text (translation). For more information, please visit Lernout & Hauspie on the World Wide Web at www.lhs.com. |
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