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Technology Stocks : Gemstar Intl (GMST)
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To: quidditch who wrote (5195)8/12/2001 5:27:10 PM
From: Mike Buckley  Read Replies (2) of 6516
 
quid,

By the way, as to GMST's conservative accounting in exactly this context, recall the results of Q1 2000 or thereabouts, when $17 million of a litigation settlement with GIC (now part of MOT) was included in operating income and eps. If I recall correctly, management spent quite a bit of time explaining that sleight of hand.

I don't remember that and I don't know why much discussion about it would have been necessary. The press release was very clear about the details. I remember posting in the folder that I wasn't sure whether or not it should be excluded as a one-time item (I'm still unsure), but that I appreciated management presenting the information in such a way that makes it easy for an investor to look at it either way.

--Mike Buckley
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