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Technology Stocks : Newbridge Networks
NN 14.35-3.1%Feb 3 3:59 PM EST
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To: pat mudge who wrote (4775)6/2/1998 8:26:00 PM
From: Technopeasant   of 18016
 
Too clever by half.
Or maybe too clever by 1 cent.
All this jumble of numbers with Canadian GAAP, US GAAP, pro forma numbers etc. just raises my hackles. Newbridge was able to claim 13 cents, put it in the news release early on in the text, by producing a series of statements and reconciliations of US to Canadian GAAP.
Bottom line is they missed the number. It's 12 not 13. Consensus number was 13, not 15 or 16 or whatever else was posted here. The number they were comfortable with was 13. They missed it.
Scratching around for good things to say is kind of hard. The TDM revenue number, (not specified) was up sequentially. Well, TDM was radically down last quarter and they expected that blip to be put right. I know its not neat new stuff, but it is bread and butter while they are putting ATM Steak on the table and that was some relief.
18% revenue increase year over year was about the best element of the results.
Wonder what this Carbonneau move is for. New Pres. looks very well qualified/experienced, hope he fits in and can be positive. Doesn't look like a precursor to a buy-out though.
Overall, disappointed. Still patient with the core holding though the extra money went elsewhere three weeks ago.
Now wouldn't it be just like the market to bid the stock up tomorrow?
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