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Non-Tech : SOLOMON-PAGE SYMBOL -SOLP-
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To: Gregory DeMoully who wrote (245)1/13/1998 3:14:00 AM
From: FIFO_kid2  Read Replies (2) of 295
 
Earnings are ALWAYS reported after taxes but as an investor when a firm happens to lose tax loss carryforwards and incur a higher tax rate earnings will fall. However, you can argue that to properly gauge a comparison of business conditions from a prior year it would be fair to exclude the tax but by doing so we are not following GAAP. But I am looking through the numbers and see this company is a perfect demonstration of this exception. The holders of SOLP are the visionaries because they are looking at the sales growth and the profit margins from operations to get a guide on the true growth of this company. As predicted months ago I thought we would have one last earnings disappointment on SOLP (I thought it was going to be on the dilution from the outstanding warrants). They took a writeoff on an uncollectable debt and reported a higher tax rate. It is always a disappointment to see that you are doing business with deadbeats which could be perhaps prevented. We should now have a screaming buy now but I am afraid that the market will not reward this company for its current strong fundamentals before they begin to turn south. I really believe that the turmoil in Asia will have a greater impact on our general economy than most people tend to believe. Eventually the effects will trickle down to have an impact on all sectors of our economy.
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