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Non-Tech : Bill Wexler's Dog Pound
REFR 1.580-4.5%Dec 4 3:59 PM EST
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To: Mike M who wrote (8672)2/6/2003 9:02:30 PM
From: Mark Marcellus  Read Replies (1) of 10293
 
This will be the second year they will have turned a profit.

That is not an accurate statement. GUMM did not turn a profit in 2001. I assume you're trying to count the one time gain on sale as a profit, but it doesn't work that way.

I guess if you really wanted to calculate the "profit" from the 2001 sale, you could value it by going back to 1995 and doing a cash flow analysis on the series of negative cash flows from 1995-2000 followed by the positive cash flow in 2001, but I don't think that would paint a pretty picture.
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