RE: Make sense ? NOT..!!!!Where did you see the good results?
They lost money again and using GAAP accounting it doesn't look like they will make a profit any time soon.
Yet they continue to make $$ and put money in the bank when using non-GAAP accounting.
This whole issue of GAAP seems to be crazy, and makes things confusing when trying to compare companies.
Excerpt from PR.
On a GAAP basis, gross margin was 30.6 per cent in the first quarter of2010, compared with 28.3 per cent in the same period of 2009. Operatingexpenses were $50.8-million and loss from operations was $4.5-million inthe first quarter of 2010, compared with $41.8-million and a loss fromoperations of $10.3-million in the same period of 2009. The company'snet loss was $7.5-million, or loss per share of 24 cents, compared with anet loss of $23.7-million, or loss per share of 76 cents, in the firstquarter of 2009.
On a non-GAAP basis, gross margin in the first quarter of 2010 was 30.7per cent, compared with 28.4 per cent in the first quarter of 2009.Operating expenses and earnings from operations were $42.3-million and$4.1-million, respectively, compared with $29.4-million and$2.2-million, respectively, in the first quarter of 2009. Net earningswere $4.1-million, or 13 cents per diluted share, compared with netearnings of $2.5-million, or eight cents per diluted share, in the firstquarter of 2009.
So did they make money or not ?
John