GEAC.....Canadian best kept secret Message Board

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Gold/Mining/Energy : GEAC.....Canadian best kept secret

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To: Sultan who wrote (1023)	2/4/2000 9:47:00 PM
From: john.d	Read Replies (1) of 1571

<I should have read the last qtrly results a bit more carefully.. I think this in one reason the shares have been under pressure since the last qtrly results... "Of the total intangible assets acquired with JBA, $180 million has been classified as intellectual property to be amortized over a period of two years, and $215 million as goodwill, to be amortized over five years. This allocation of the intangible assets is based on a preliminary report of independent professional valuators, and any difference determined by their final report will be reflected when received." > Sultan, can you help me understand what your concern is here, as I read this, there may be some massaging of the allocation of intangible assets. This is an accounting matter. Yes it will impact the net income, but I thought that cash earnings is a more important focus of management and analyst's. When I see predications for EPS I assume that I am reading corrected/adjusted after acquisition write off's. From my point of view how the accountants allocate these assets is of less importance than cash earnings. I am not a financial expert, but would welcome any comments from those who are. What concerns me is that the Canadian Dollar is rising against the Euro and there is not much Geac Managment can do and that will impact cash earnings. How is the integration of JBA going, is management making progress on meeting the operating margin targets? So far I have yet to see any hard evidence that Geac is in serious trouble. Yes we may have a bad quarter (I have no evidence for that either), but longer term only see a bright future. John

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