That's the approximate duration investors have to wait to find out Fourth Quarter and Fiscal Year earnings results. That to me is unacceptable and I for one hope the new CFO does something about that lethargic pace.
Here's some comparisons:
CMGI Inc. (Nasdaq: CMGI) Market cap: $742M Fiscal year end: July 31 Earnings announcement: October 10, 2006 .... 71 days
Intuit Inc. (Nasdaq: INTU) Market cap: $9.8B Fiscal year end: July 31 Earnings announcement: August 22, 2007 .... 22 days
Hewlett Packard Co. (NYSE: HPQ) Market cap: $124B Fiscal year end: October 31 Earnings announcement: November 16, 2006 .... 16 days
SanDisk Corp. (Nasdaq: SNDK) Market cap: $12B Fiscal year end: December 31 Earnings announcement: January 30, 2007 .... 30 days
Internet Capital Group (Nasdaq: ICGE) Market cap: $433M Fiscal year end: December 31 Earnings announcement: February 5, 2007 .... 36 days
I tossed ICGE into this since they have a large venture capital portfolio, and it's the reporting of those firms to CMGI that could be some of the reason it's taking CMGI longer to report. Well, if that's the case, there's plenty of room for improvement. We should be looking at q4 result first week in September if CMGI reported like ICGE is doing, or mid-August if they reported like HP! OK Mr Crane, let's get this show on the road!
There is no reason why the earnings should be delayed so long. Note that cmgi like HP and all the fortune 500 companies are using SAP as their ERP system. After the month-end close, which takes a couple of hours, the numbers for the quarter are automatically generated. Now part of cmgi is still on another obscure ERP system, so give them a week to consolidate all the numbers and a few days to organize the paperwork. This means that cmgi should be reporting the numbers at least as fast as an HP.
CMGI is deliberately using delay games. The reason for this is really interesting to me.