Mike: Thanks. Excellent site. Will use. Note at the very end in very small print "Data provided by Zachs". So, no wonder this site excludes one time events as your reference earlier to Zachs thru AOL did.
Actually, as you have taught me, some adjustment is probably necessary to get the best info on which to base numbers past, present and future.
Since it is obvious from my One Gorilla (QCOM), One King (UNPH), I am particularly interested in them, there are two very interesting further adjustments which will be helpful. Different in each case.
There are still some charges due in the 3rd quarter for the payments re the switch of the Q's infrastructure to Ericy. Probably all those charges will be reported in such a way as to be easily excluded. The Q will probably do the work for us actually. But perhaps not all. Will be curious what your analysis brings. What is most interesting of course is what set of net earnings to use as the "ongoing business" base.
Surprised to learn recently that the SEC does not require a company to report on an "ongoing business" basis, yet that is clearly by far the most useful basis for investors. Do you have any idea why the SEC is so out of it? Just the usual bureaucratic stuff and nonsense, or is there any valid reason - i.e. open to manipulation or something else?
By far the most interesting will be JDS Uniphase, which once merged will have to charge off huge amounts of "goodwill" against earnings according to the new accounting rules. As you know, I don't pretend to know much about accounting, but this alleged "reform" just going into effect will make the earnings of JDS Uniphase losses. No way to tell what the result of ongoing operations will be without adjustment. This is so absurd a result, and so damaging to any way to understand JDS Uniphase operations, that I assume the company will do the math to make the adjustment needed. But sadly the "official" earnings results will be meaningless for investment purposes. Note: The first reports as a combined company which will require this treatment will probably be for the currect quarter ending in Sept - but not sure..
Perhaps some of the jokes about lawyers, should be expanded to include accountants, naw that would be unfair, no?
In these two cases especially, I personally would very much appreciate your turning your fine analytical hand to them. For the intellectual fun as a value investor, and general interest of us who then might be able to make similar adjustments where necessary.
As always, best, and respect,
Cha2 |
