If they factored in the $2.65 million charge for anticipated fines and legal expenses as they should, they would miss their earnings by 5 cents, it would be .29 instead of the reported .50.
That's BS, they claim in the release "management and investors wouldn't understand" taking out the charge.
I'm selling all my shares in the morning.
You're looking at old news. The $2.65M charge was taken in Q3, not Q4.
<<LAKE MARY, Fla., Oct. 30 /PRNewswire-FirstCall/ -- FARO Technologies, Inc. (Nasdaq: FARO) today announced results for the third quarter ended September 29, 2007. Net income for the third quarter was $0.7 million, or $0.04 per diluted share, a decrease of $2.5 million, compared to $3.2 million, or $0.22 per diluted share, in the third quarter of 2006. The third quarter results include a charge of $2.65 million for the estimated fines and penalties that the company anticipates could be necessary to resolve the previously announced Foreign Corrupt Practices Act ("FCPA") matter with the U.S. Department of Justice ("DOJ") and U.S. Securities and Exchange Commission ("SEC"). Excluding this $2.65 million charge and the $0.6 million of related tax effects, net income would have been $4.0 million, or $.25 per diluted share.>>
Ding...ding....ding....we have a winner!!! I posted that same thing months ago when it got punished for a 1 time charge that wouldn't recur the next quarter. It amazes me how many people can't read or do even 3rd grade research...absolutely amazing!
re "If they factored in the $2.65 million charge for anticipated fines and legal expenses as they should, they would miss their earnings by 5 cents, it would be .29 instead of the reported .50.
Your point is clueless IMO. What people including me want to know about is operating earnings and not some fine from actions in the past they may or may not have to pay.
earning $0.50 versus consensus .34
revenue 59.2M versus consensus 53.04
'08 rev guidance. Using their 20-25% y/y gain comes out to $229.92-$239.5 versus '08 cons of 221.98. gross margins sounded fine so pending the CC looks like a blow-out to me if my numbers are right.