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Sapient Corp. Message Board

  • ntmessage ntmessage Jun 12, 2007 7:10 PM Flag

    Excellent News for Longs

    Just listened to the call and from what will be filed ex items, this company earned 7 cents per share on the core operations. Some analysis here might be mixing up GAAP and non GAAP as well as ex items - but since they were delinquent I go by non GAAP and ex items for fair past comparisons. Also they are filing everything now and it looks like the 1 cent number will include a large portion of the one time costs and penalties regarding the options issue. The $47M is a non cash charge based on a much larger market cap average during the dot com hey day. Moving forward hopefully there will be consistent apples to apples GAAP comparisons on earnings guidance and analyst consensus.

    Also seems like the CFO is smart in waiting to confirm the actual operational cash flows for this business before continuing the buy backs. Still there is 125M in the bank and no debt.

    This business will now be in compliance and is growing the top line at around a 30% annual clip. Along with potential operation leverage for the rest of the year, a $12-$16 stock price a reasonable possibility within a year or so depending upon the operational earnings and sector multiple you might use.

    All that said, for 100% confidence I would like to see the next two quarters show the same progress the past two have since then it would totally break the negativity around this stock for sure.

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