Charles,
I like my numbers better also. *g* Thanks for posting the Yahoo! link.
Here is part of a news release, copied directly from Iomega's web site, that discusses Iomega's Q2 1998 earnings:
ROY, Utah, July 16, 1998 -- Iomega Corporation (NYSE:IOM) today reported second quarter revenue of $394 million, a decrease of two percent from its second quarter 1997 revenue of $400 million. The Company's net loss, before special charges, for the second quarter was $33.8 million, or $(0.13) per diluted share, and was within the range pre-announced by Iomega on June 18, 1998. Also in the second quarter, Iomega recorded special pre-tax charges of $9.4 million, (or $(0.02) per diluted share after tax), related to its cost reduction efforts. The total after tax loss for the second quarter, including these charges, was $39.9 million, or $(0.15) per diluted share. In the second quarter of 1997, Iomega earned $26.2 million or $0.09 per diluted share.
I have been focusing on the total losses, excluding any special charges (like the $0.02 shown above related to Iomega's cost reduction efforts).
Sooooo, for fiscal 1998, so far the fully diluted EPS numbers look like this:
Q1 = - $0.07
Q2 = - $0.15 (includes a special charge of $0.02 for cost reductions)
Q3 = - $0.06 (includes a special charge of $0.03 for acquiring Nomai)
Cum diluted EPS through Q3 1998 before special charges..= - $0.28
Cum diluted EPS through Q3 1998 after special charges...= - $0.23
Evidently Charles, your posted numbers are right on the money!
Conclusion....H&Q must be working with the lower loss numbers, so their updated estimate for FY 1998 of - $0.17 should include a $0.06 positive Q4 EPS estimate for Q4 1998 (- $0.23 to date + $0.06 for Q4). If not, I really don't get it and the "glazed eye" look will soon start setting in. *g*
But no, why use logic!!!......look at these numbers from post #58202!!!
IOM: HAMBRECHT&QUIST has reiterated estimate for fiscal year
ending 12/98 of $-0.17 on 01/14/99
IOM: HAMBRECHT&QUIST has reiterated estimate for fiscal year
ending 12/99 of $0.25 on 01/14/99
IOM: HAMBRECHT&QUIST has reiterated estimate for quarter
ending 03/99 of $0.03 on 01/14/99
IOM: HAMBRECHT&QUIST has reiterated estimate for quarter
ending 06/99 of $0.05 on 01/14/99
IOM: HAMBRECHT&QUIST has reiterated estimate for quarter
ending 09/99 of $0.07 on 01/14/99
IOM: HAMBRECHT&QUIST has reiterated estimate for quarter
ending 12/98 of $0.05 on 01/14/99 <----------------------------------What's with this!!!
IOM: HAMBRECHT&QUIST has reiterated estimate for quarter
ending 12/99 of $0.10 on 01/14/99
In view of H&Q's "flat-out" estimate of $0.05 for Q4 (highlighted directly above) my mind is now completely in a spiral and I'm laying on the floor quivering with all my synapses short circuiting. *g* Bottom line......will H&Q's real estimates please stand up!
By the way Sheila, I'll go with H&Q's $0.05 estimate highlighted above.
I've seen way too many people get burned in the past by "irrational exuberance" over Iomega.
Dave |
