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KENETECH EARNINGS

After Windpower Monthly's February issue went to press, Kenetech's then chief financial officer, Maurice Miller, commented further on errors he claims were contained in an article on his company's 1994 third quarter financial report in the January issue of this magazine. He says the anomaly apparent to Windpower Monthly in the report, which suggests that Kenetech would have made a loss in the third quarter if it were not for a settlement that same quarter with utility PG&E following a court case, is because a portion of the settlement was not included as income in the third quarter 10-Q, but accounted for earlier. This fact and the size of the sums involved are not public knowledge. Miller says the settlement's contribution to Kenetech's third quarter income was smaller than apparent from the 10-Q, thus Kenetech would have made a profit, absent the settlement.

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