Atrium Innovations Inc ATBIF

Adjusted EPS

[lanaar2]

I'm reading the 2011 annual report and I'm having a hard time understanding how the company comes up with a diluted share count of 34,600K shares where it only takes into account 1,604K shares from the converts (note 21 p. 85). Assuming the conversion price of 24.60$ on 100M$ nominal, the dilutive effect should be closer to 4,065K. What am I missing?? The company is assuming only part of the debentures will be converted because of the low share price, that's my best explanation.

In my personnal opinion the company in 2011 made 55,933K$ net income minus 3,013K$ adjustment for change in FV of converts = 52,920K$ on 37,061K shares = 1.43$ diluted EPS (compared to the 1.61$, that's 11% less)

[gjgj]

Probably because the convert was issued in 2011 and outstanding only for part of 2011 so when you calculate the shares you should use the weighted average outstanding shares during 2011, not the number at the end of 2011.  So the difference between 34 million and 37million.  In reality though, given the strike of the convert being 2x of the current stock price, it will take a long

[lanaar2]

Ahh yeah good points. My accounting courses are far. I got my hand on the RBC research report dated march 1, 2012: ''We rate atb sector perform for the following reasons: free cashflow from the current portfolio yields 5%, in the low to mid-range of our coverage universe, however, capex to improve corporate infrastructure looks to be on the rise. Wobenzym will still take time to regain

[Capharnaum]

Also keep in mind shares can only be diluted when share price reaches $24. In other words, you shouldn't count them until share price gets close to there.   Plus, they are currently trading at 4.7x EBITDA...

[1condor]

I was a buyer just lately at 10.10..so near the low. I know that this stock will have a tough time breaking that 12 dollar resistance level. As far as the 24 bucks..I cant even image the stock at that price.

[1condor]

I was a buyer just lately at 10.10..so near the low. I know that this stock will have a tough time breaking that 12 dollar resistance level. As far as the 24 bucks..I cant even image the stock at that price.