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Technology Stocks : The Learning Company (TLC)
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To: Trader Dave who wrote (6055)11/9/1998 5:07:00 PM
From: paul richards  Read Replies (1) of 6318
 

just read 10q, and it appears this q3 reports included brod's revenue
as of july! (nov 5/98 warburg dillon analyst report stated only Aug was included) the consequence to investors is significant. the eps numbers would be over estimated!

this stems from the pro rated calculation of the number of shares outstanding for q3. the deal closed aug 31/98, therefore the shares issued to acquired brod are pro rated at 32/91, much lower than the 18m shares issued to buy brod.

since tlc captures all the brod revenue for the period july-sept but used only a pro rated share count of 32/91 of 18m shares, any investor will agree this skews the eps and makes tlc look good.

so traderdave, confirm if tlc used brod revenue since july and if the o/s calculation pro rated the newly issued brod shares by 32/91???
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