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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (80103)	4/25/2000 8:42:00 PM
From: BSGrinder	Read Replies (4) of 132070

Michael, I have been seeing more and more of this kind of summary on Bloomberg: "JDSU - The maker of parts used in fiber-optic equipment said its third-quarter loss was 32 cents a share compared to net income of 4 cents a year earlier. The company said its profit before costs for the period ended March 31 was 11 cents, beating the average estimate of 10 cents made by analysts polled by First Call." JDSU lost 8 times more than it earned in last year's quarter, but was a penny above expectations on "profit before costs"! I thought analysts based their estimates on GAAP earnings, not this make believe accounting. /Kit

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