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Strategies & Market Trends : The Amateur Traders Corner
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To: Tom Hua who wrote (2501)10/25/2000 9:49:39 AM
From: Fundamentls  Read Replies (1) of 19633
 
Tom,

I think STEC is the first company I have ever seen to report pro forma earnings that were lower than GAAP earnings. As you know, the trend of late has been to use pro forma earnings to exclude expenses that companies would rather not have investors focus on. I've only taken a quick look so I may be misinterpreting, but STEC seems to have used them to reflect the fact that the benefit of their tax-loss carryforwards won't be around forever and therefore should considered as more of a one-time event.

If so, it's kind of refreshing to see a company that not only doesn't have to play games to show its performance, but that actually reminds you that the long-term might not reflect all of the factors present today.

Regards,
Fund
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