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Technology Stocks : SONS
SONS 7.830+2.8%Nov 28 4:00 PM EST
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To: slacker711 who wrote (1020)5/8/2007 2:07:03 AM
From: bruce_hamilton  Read Replies (1) of 1575
 
Slacker,

I think it was a great quarter and cc as well, but I always ask myself what language in the earnings release can be used by the Houses, analysts, and shorts to bring down the price, or for a better entry point. So here is my list:

reported selected financial results for the first quarter ended March 31, 2007.

Revenues for the first quarter of fiscal 2007 were $71 million compared to $79 million in the fourth quarter of fiscal 2006 ......

Non-GAAP Financial Metrics Highlights:

The Company is not providing detailed GAAP or non-GAAP financial results for the quarter at this time because the Company has not yet completed its previously announced restatement of certain historical consolidated financial statements........

The preliminary, non-GAAP financial metrics provided in this release do not include associated stock-based compensation expense or any impact that may result from the stock option review and related restatement.

.....the Company concluded that the actual measurement dates for financial accounting purposes of numerous stock option grants issued in the past differ from the recorded grant dates. The Company is now in the final stage of the review process and expects to file its restated and delayed financial reports as soon as this stage is completed.

I've seen it happen to many times, but we will see which way the market choose to spin it.

Long and happy but realistic

Bruce
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