RE: What am I missing here?
Your numbers are hard to read, as you didn't post using fixed
font, so I will restate. The losses in both 1995 and 1996 were
due to acquisitions. If you exclude the acquisition charges
you get:
EPS excluding acquisition charges
Q195 0.04* Q196 0.09 Q197 0.19
Q295 0.05* Q296 0.10 Q297 0.21
Q395 0.06* Q396 0.11 Q397 0.23
Q495 0.08* Q496 0.16 Q497 0.25
Total 0.23 Total 0.46 Total 0.88
* Shares used in 1995 calculations were 18,377,000 from
1996 10-K.
In 1995 there was a common stock offering of 2.7M shares
and issuance of 819,972 shares for acquisition of assets
in Israel from Ace-North Hills and Galcom. MRVC stated
that for 1995 Net income would have been $4,345,000,
excluding $5,618,000 in acquisition charges.
In 1996 MRVC acquired Fibronics. They stated that net income
for 1996 would have been $10,555,000, excluding $20,209,000
in acquisition charges.
In 1997 Net Income was $23,012,000.
Revenue in Millions
Q195 $ 6.7 Q196 $15.5 Q197 $ 35.6
Q295 $ 8.3 Q296 $19.6 Q297 $ 39.5
Q395 $11.1 Q396 $22.7 Q397 $ 42.0
Q495 $13.0 Q496 $31.0 Q497 $ 48.4
Total $39.1 Total $88.8 Total $165.5
What are you missing? Not much, except you used $0.27
instead of $0.25 for Q4 97. |
