What $3 million settlement? The only one I know about is one from 2008. Is this another one? Can you provide the verbiage or link to the settlement you're referring to?
If you look at the financials from last year Q1 v. Q4 plus add in new ClosureFAST revs, I think you'll get to the same conclusion: high end of guidance...on the eps side, if you assume about 65.2% gross margin and opex of $11.2 million, 37.4% tax, you get to .13 eps. For Q2, the company will have to rely on ClosureFAST growth the get revs moving significantly.
I do not have a clear memory but I believe a Dr. Silva was suing them for patent infringement.
After checking the 10K, however, the company has now settled with Dr. Silva and the company has actually purchased the rights to the intellectual property. It will be amortized for a period of ten years. So, it actually looks like they will account for it as an acquisition.
See page 71 of the 10K. My apology for not being clear. I may have been confused with another stock I am following.
Thanks for pointing that out. I hadn't seen that. It appears that VASC was paying Dr. Silva royalties and no longer need to do that. So it's probably a fairly neutral transaction on income statement, though cash should go down $3 million.