you must be kidding?
if not then you are seriously in trouble.
you can use any report which documents the returns & allowances, and the cashflow. I picked the 10K which has all the details.
1) 1st table lists all the returns and how they were treated, total approx $124m
2) 2nd table is the cashflow, which accounts for all the money.
Read it, and you'll see that all the revenue has been reduced
by these returns & allowances. It also shows TLC had to borrow
money.
If TLC had used net revenues, TLC would have cash increases and no need to finance.
regardless, TLC either underestimated its returns & allowances,
and therefore had to increase them in the following Q, or they use gross revenues.
It should be clear why TLC will never be able to be profitable,
and therefore, grow revenues by acquisition. If they do, they will always have write offs.
BTW: trader dave, you claim TLC had 20% organic growth, but you failed to account for the 8 companies acquired since last june30.
If you do your work properly the growth is less than 10%.
I believe I listed my estimates in a previous post, where's yours? |
