Nynex also plans to take a $155 million charge against earnings for restructuring costs.
The building products company took a $38.8 million charge against earnings in the quarter.
The company took a charge against earnings of $1.9 billion a year ago, but today it is on the rebound.
In its third quarter, the company took a charge against earnings of $233 million to cover costs associated with the divestitures.
He said the company would take a one-time charge against earnings of $500 million in the current quarter.
The company is also considering taking a charge of at least $1 billion against earnings related to the overhaul.
Analysts expect the board to take a big additional charge against earnings, perhaps more than $4 billion.
Wang, which is based here, took charges against earnings of $441.6 million for its fourth quarter that ended on June 30.
As a result, the company said it would take a charge against earnings this year of about $:250 million ($433.1 million).
Proposed accounting changes would force companies to take a charge against earnings for stock options.