Voluntary disclosure of forward-looking earnings forecasts in Australia

This study examines the voluntary disclosure of future earnings information in annual reports for Australian listed companies. We find that most Australian companies in our sample do not provide quantitative earnings, forecasts in their annual reports, although more than half of the sample do disclose forward-looking information relating to earnings, without specifically disclosing point estimates for the future. These companies mostly supply qualitative information with a positive bias, while the remainder of the sample discloses no forward-looking information relating to earnings. Our findings also suggest that larger companies with less volatile earnings tend to provide more future earnings information than smaller companies with relatively volatile earnings.

The characteristics of six species of living hollow-bearing trees and their importance for arboreal marsupials in the dry sclerophyll forests of southeast Queensland, Australia

Six species of trees located in the dry sclerophyll forests of southeast Queensland were studied to ascertain which was most suitable to be retained as hollow-bearing trees for nesting and denning by arboreal marsupials. Generally for all tree species, the number of entrances to hollows was positively correlated with the diameter at breast height (DBH) and the growth stage, and entrance diameters also increased in trees with a larger DBH. However, there were differences between the species; Corymbia citriodora had few hollows until the individuals were very large while Eucalyptus crebra had low numbers of hollows throughout its entire size range. It was concluded that a mixture of tree species provided a range of hollow sizes and positions that would be suitable for nesting and denning by arboreal marsupials in those forests. There were large differences between tree species in the relationship between tree size and estimated age. Five of the tree species took between 186 and 230 years to begin to produce hollows while E. crebra took up to 324 years. This suggests that tree species other than E. crebra may be the most preferred for retention in areas where hollow-bearing tree densities are lower than the prescribed level. Other data also suggests there are likely to be enough trees in larger size classes that would begin to form hollows within the next 50 years to compensate for an expected loss of hollow-bearing stags during that same period. In terms of forest operation, the retention of six hollow-bearing trees/ha would represent an estimated loss of 7.3-15% wood production. (C) 2003 Elsevier Science B.V. All rights reserved.

Flavivirus isolations from mosquitoes collected from western Cape York Peninsula, Australia, 1999-2000

After the 1st appearance of Japanese encephalitis virus (JE) on mainland Australia in 1998, a study was undertaken to investigate whether JE had become established in enzootic transmission cycles on western Cape York Peninsula. Adult mosquitoes were collected during the late wet season from Kowanyama and Pormpuraaw in April 1999, and Pormpuraaw and Barr's Yard in April 2000. Despite processing 269,270 mosquitoes for virus isolation, no isolates of JE were obtained. However, other flaviviruses comprising Murray Valley encephalitis virus, Kunjin virus, Alfuy virus, and Kokobera virus (KOK) were isolated. Isolates of the alphaviruses Ross River virus, Barmah Forest virus (BF), and Sindbis virus (SIN) also were obtained. The majority (88%) of isolates were from members of the Culex sitiens subgroup. Single isolates of KOK, BF and SIN were obtained from Ochlerotatus vigilax, Oc. normanensis, and Anopheles bancroftii, respectively. The isolations of flaviviruses during the late wet season indicate that conditions were suitable for flavivirus activity in the area. No evidence was found to suggest that JE has become established in enzootic transmission cycles on western Cape York, although study sites and field trips were limited.

Characterization of E-cadherin endocytosis in isolated MCF-7 and Chinese hamster ovary cells - The initial fate of unbound E-cadherin

The endocytosis of E-cadherin has recently emerged as an important determinant of cadherin function with the potential to participate in remodeling adhesive contacts. In this study we focused on the initial fate of E-cadherin when it predominantly exists free on the cell surface prior to adhesive binding or incorporation into junctions. Surface-labeling techniques were used to define the endocytic itinerary of E-cadherin in MCF-7 cells and in Chinese hamster ovary cells stably expressing human E-cadherin. We found that in this experimental system E-cadherin entered a transferrin-negative compartment before transport to the early endosomal compartment, where it merged with classical clathrin-mediated uptake pathways. E-cadherin endocytosis was inhibited by mutant dynamin, but not by an Eps15 mutant that effectively blocked transferrin internalization. Furthermore, sustained signaling by the ARF6 GTPase appeared to trap endocytosed E-cadherin in large peripheral structures. We conclude that in isolated cells unbound E-cadherin on the cell surface is predominantly endocytosed by a clathrin-independent pathway resembling macropinocytotic internalization, which then fuses with the early endosomal system. Taken with earlier reports, this suggests the possibility that multiple pathways exist for E-cadherin entry into cells that are likely to reflect cell context and regulation.

Epizootic activity of Murray Valley encephalitis and Kunjin viruses in an aboriginal community in the Southeast Kimberley region of Western Australia: Results of mosquito fauna and virus isolation studies

We undertook annual surveys of flavivirus virus activity in the community of Billiluna of Western Australia in the southeast Kimberley region between 1989 and 2001. Culex annulirostris was the dominant mosquito species, particularly in years of above average rains and flooding. Murray Valley encephalitis (MVE) virus was isolated in 8 of the 13 years of the study from seven mosquito species, but more than 90% of the isolates were from Cx. annulirostris. The results suggest that MVE virus is epizootic in the region, with activity only apparent in years with average or above average rainfall and increased numbers of Cx. annulirostris. High levels of MVE virus activity and associated human cases were detected only once (in 1993) during the survey period. Activity of MVE virus could only be partially correlated with wet season rainfall and flooding, suggesting that a number of other factors must also be considered to accurately predict MVE virus activity at such communities.

Nitrogen cycling in degraded Leucaena leucocephala-Brachiaria decumbens pastures on an acid infertile soil in south-east Queensland, Australia

A grazing trial was conducted to quantify N cycling in degraded Leucaena leucocephala (leucaena)-Brachiaria decumbens (signal grass) pastures grown on an acid, infertile, podzolic soil in south-east Queensland. Nitrogen accumulation and cycling in leucaena-signal grass pastures were evaluated for 9 weeks until all of the leucaena on offer (mean 600 kg edible dry matter (EDM)/ha, 28% of total pasture EDM) was consumed. Nitrogen pools in the grass, leucaena, soil, cattle liveweight, faeces and urine were estimated. The podzolic soil (pH 4.8-5.9) was found to be deficient in P, Ca and K. Leucaena leaf tissues contained deficient levels of N, P and Ca. Grass tissues were deficient in N and P. Grazing was found to cycle 65% of N on offer in pasture herbage. However, due to the effect of the plant nutrient imbalances described above, biological N fixation by leucaena contributed only 15 kg/ha N to the pasture system over the 9-month regrowth period, of which 13 kg/ha N was cycled. Cattle retained 1.8 kg/ha N (8% of total N consumed) in body tissue and the remainder was excreted in dung and urine in approximately equal proportions. Mineral soil N concentrations did not change significantly (-3.5 kg/ha N) over the trial period. The ramifications of grazing and fertiliser management strategies, and implications for pasture rundown and sustainability are discussed.