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Gold/Mining/Energy : Rainmaker (T:RNK) Announces Q1 Results - $0.09 EPS
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To: diddlysquatz who wrote (26)3/19/1998 11:39:00 PM
From: Robert van Mil  Read Replies (1) of 73
 
Paul, is it just me that finds writedowns of this kind an annoying accounting practise? In the field that they are in , reinvestment in the latest technologies should be seen as an expense and recorded at the time it is incurred. The technology moves along so quick that any other form of accounting just doesn't work. In looking at his company I only looked at the results from 1996 onward, are you familiar with writedowns like this before that?
If this is a one time attempt at cleaning up the balancesheet, it should be seen as a good move, that will benefit them in the long term. All other important figures, like revenue, assets, shareholder equity, are moving in the right direction.
On the other hand from the release today it would be just as easy to conclude something along the lines of " management decided to invest money in a bunch of new technology that will never pay off ", which sounds a lot worse.
All the best, Robert
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