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Turkcell Iletisim (TKC) Message Board

  • jimmycramery jimmycramery Feb 28, 2008 7:02 PM Flag

    Did you see the correction

    The original had $55 M Revenue for 2007, and the co. issued a correction that said it was improperly transmitted, and it should have been $255 Million. I would say that should make a big difference. The stock should respond tomorrow. If it does respond up, I am going to back up the truck and load it.

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    • I wonder if they are not still having accounting problems due to the exchange in reference to the postings in that correction article. Looks like several mistakes are made in the correction.

      "Highlights of the Fourth Quarter and Full Year 2007 Full Year Revenue increased by 35% to
      US$6.3 billion (US$4.7 billion) due to higher usage and subscriber growth combined with the positive contribution of consolidated subsidiaries"

      "increased by 35% to
      US$6.3 billion (US$4.7 billion)" <---?? Both stated in US$ ???

      Which is right? One Turukish New Lira is higher than 1 USD.

      This from an exchange calculator: Saturday, March 1, 2008

      6,300,000,000 US Dollar = 7,569,954,000 Turkish New Lira

      If this is just a play on the exchange rate difference that value is subject to variances in the exchange rate which could change at anytime. Does this sound right?

      If at the time the financials were completed and they used the exchange rate current at that time and the US$ was higher than the turkish New Lira, and now the New Lira is higher than the US$, wouldn't that make the Q4 US$ a lot weaker today?

    • That correction was posted at 10:30 AM.
      It little or no affect

8.98-0.15(-1.64%)Feb 9 4:02 PMEST