RE: RE: RE: RE: RE: EarningsYes, the amortization is for the recent acquistion and any new participation surveys they do and it will continue until these investments are reduced to zero. I would expect 8 to 10 more quarters for big write offs and smaller ones after that. As I said, this is a good thing because it reduces the taxes PSD would owe and allows them to keep the cash flow and reinvest it or pay dividends or debt.
Most institutional investors will look past the EPS numbers and look at the free cash flow per share, but unfortuneately not all investors understand this. That creates a bit of a headache in getting the share price to respond to the very high return on equity this company sports, but of course, this also allows us the opportunity to pick up a mis-priced stock at a great price until they come around.
As I also said, the stock market will either figure it out on their own and push the stock price up soon or they will be whacked in the face with it when the big amortization expense stops in 8 to 10 quarters from now.