I would focus on pre-tax operating income. It is relatively clean and then add back amortization of acquisition intangibles. By that metric they broke even versus making $13 million last year for quarter and lost about $22 million for year (verse profit before). They forecast a operaing loss of about $5 million (after making various tax, interest and amortization fixes). I don't count amortization of intangibles as a pre-tax loss. if you do then they lose another %85 to $90 million a year pre-tax.
For the full fiscal year 2013, GAAP net loss per share was ($1.92), and non-GAAP diluted earnings per share was $1.63. The company's non-GAAP results exclude the effects of $379 million in stock-based compensation, $149 million related to the one-time tax valuation allowance established in the fiscal third quarter, $88 million in amortization of purchased intangibles, and $24 million in net non-cash interest expense related to the convertible senior notes, and is based on a non-GAAP tax rate of approximately 33%. GAAP EPS calculations are based on a basic share count of approximately 141 million shares. Non-GAAP EPS calculations are based on approximately 149 million diluted shares outstanding during the year, including approximately four million shares associated with the company's convertible senior notes.
This is an "Incredible" "Amazing" divergence between GAAP and non-GAAP eps. I mean...WOW!
$3.55 swing between hard accounting reality vs. fantasy eps. When will this house of cards implode!!?
For the full fiscal year 2013, GAAP net loss per share was ($1.92), and non-GAAP diluted earnings per share was $1.63.