ATCI deal in April will kill Q2 earnings.
And note how Summit's equipment sales stagnated Q3-Q4, along with fees and service revs.
Assuming Summit lasers did 10K more procedures Q4-Q1, that'll drop another $2M+ to bottom line, putting Q1 earnings at about $4M+, or EPS $0.13+.
(For clean Q4 earnings, look at operating income plus interest income.)
But ATCI deal will involve issuing 5M shares of BEAM stock assuming BEAM is at $10 by then, putting total outstanding at 36M+. Read the deal terms at ATCI website.
Then, in Q2, with ATCI's $5M quarterly loss factored in, Summit will B/E or lose money, even with more sequential procedure growth.
Q3 may be $0.05 to $0.10, assuming another $2M hits bottom line after Q2.
So, 1999 *untaxed* EPS looks like $0.28 to $0.38:
Q1/Q2/Q3/Q4: $0.13/0.00/0.05-0.10/0.10-0.15 = $0.28 to $0.38 TOPS.
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