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Gold/Mining/Energy : CPN: Calpine Corporation -- Ignore unavailable to you. Want to Upgrade?

To: AV8R who wrote (518)	3/1/2004 4:35:31 PM
From: Bridge Player	Respond to of 555

I agree. I just wish those earnings were real GAAP earnings and not mostly from a myriad of accounting adjustments and one-time events. From their 2003 earnings report: << Based upon an assumed average market spark spread of $7 per megawatt-hour, the company is providing breakeven GAAP earnings guidance for the year ending Dec. 31, 2004. EBITDA, as adjusted, is anticipated to be approximately $1.7 billion for 2004. Further detail regarding the company's 2004 outlook is provided in the conference call presentation.>>