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Wireless Matrix Corporation WSMXF



GREY:WSMXF - Post by User

Bullboard Posts
Post by 99921on Jul 04, 2003 1:17pm
474 Views
Post# 6220073

Shrewd Timing

Shrewd TimingJust noticed an article about WRX in the June 27 National Post quoting Barry Richards, a CIBC World Markets analyst. The heading is “Shrewd timing” and the contention is that the switch to recognizing hardware sales over the life of a contract was prompted by the high revenues generated in 2003 by the Sears sale that would be impossible to duplicate in the coming year. Spreading that revenue over the next three years or so avoids that problem. He also says the switch to $US was prompted by the weakness of that currency relative to $CAN which would have forced WRX to post high foreign exchange losses if it kept reporting in $CAN. Richards said the timing of both moves is “shrewd” but looks “too convenient.”
Bullboard Posts