Very high amortization quarter over quarter
I don't want to fuel the takeover speculations here but can someone please help me review the financials on Baytex?
In looking at the the financial statements, specifically the income statements, I'm seeing very, very high depreciation/amortization numbers which would seem to artificially depress the earnings per share which, in turn, has a negative impact on the stock price?
During the last five quarters, depreciation/amortization was anywhere between $117M to $131M
Are these doing this for tax purposes by reducing net income? To groom the take over? Or... ?
There's also zero dollars for Goodwill as an asset? Am I missing something? It makes the books look uglier than they should be to prospective investors.