OTCPK:EUCTF - Post by User
Comment by
zenvestingon Jun 16, 2015 11:39pm
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Post# 23838260
RE:RE:EUO history of under delivering creating an opportunity?
RE:RE:EUO history of under delivering creating an opportunity? There's no confusion, I wanted to take a conservative non-GAAP look at their operations without the benefit of the grant money, so I deducted it from the bottom line. It doesn't matter if the grant is deducted from R&D expenses or recognized as revenue, the benefit is realized in the bottom line either way.
Sure my analysis is probably over conservative, but I just wanted to make a worst case scenario of what to expect if revenues are constant and the government grants were to end.
The point remains the same, this is a great value even if earnings growth has topped-off at these levels for now......but hopefully more of that long promised growth is in the pipeline and this worst case view is overly conservative.