Definitely not great news, but I think market is overreacting and I will be adding at opening.Revenue of $71m (higher than previous Q of 67m)Operating Expenses (incl. litigation) is ~44m (compared to 52m in Q1)EBIT estimate would be $19m (26% margin)Verse EBIT in Q1 of $16m (24% margin)Am I missing something?It also sounds like 8.8m of this is stock comp?Looks like $6m of Net income + 4m of amort. + 2m of depr. + 8 stock comp - 2m capex? = 18m FCF.Still awesome cash flow yield.
Earnings shortfall in the past brings TSRA share price lower.Have to wait for the bounceback in 2012 20+.Management increase shareholder value only by doing spinoff - sooner the better.Will be surprised to see TSRA <13.Many disown TSRA because of inconsistent earnings; hold at 20+ only to see it 15+ and seeing 30+ is only a dream.