S1: Doing Business in a Dot Com Depression, -V1 Message Board

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Technology Stocks : S1: Doing Business in a Dot Com Depression, -V1

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To: tuck who wrote (825)	5/3/2000 10:55:00 AM
From: Oeconomicus	Read Replies (1) of 1013

OK, guys, speechless? Why the long faces? Is the selling just because people can't figure out what the report means? The way I figure it, the real loss from continuing operations (excl. "amortization of intangibles", "merger related costs" and the gain from securities sales) is $26.7 million (or -53 cents per share). Net, including all those things except for the securities gains, it was ($2.20). The latter number is the one ZDNet compared to the estimates to conclude that S1 beat estimates by 6 cents. Unless the 6 cents came from missing on the amortization number (unlikely), it must have come from operations. On that basis, I figure S1 "beat the street" on a continuing operations basis by 10% (-53 vs. -59). Except for the fact that it's difficult to make apples to apples comparisons (doncha love purchase accounting?), this report looks fine to me. What gives? Bob

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