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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (57903)	8/8/2000 7:21:23 PM
From: Joe Smith	Read Replies (1) \| Respond to of 99985

Haim: This link does not break out the Investment gains and shows operating income at 1515 vs. 969 a year ago. Where did you get the table originally posted. Message 14182972

To: Haim R. Branisteanu who wrote (57903)	8/8/2000 8:09:31 PM
From: RetiredNow	Read Replies (1) \| Respond to of 99985

Once again, if you look at pro forma operating income excluding acquisition and other non-recurring costs, then it increased from last year. If you just look at the consol I/S, then it decreased, but this isn't an apples to apples comparison. That's why all the analysts of any note will exclude acquisition costs. The idea is to get a comparable figure. You wouldn't eat an apple and say "that's the worst orange I've ever tasted. it doesn't taste like an orange at all!" Would you? Same thing here.