if this is just a gaap versus non-gaap matter then it would be nice if everybody would speak the same language...
"Simultaneously with this announcement, Skullcandy preannounced fiscal 2012 earnings, saying it expects pro forma per-share income to be "at the lower end of the $1.00-$1.04 range the Company provided on November 1, 2012." GAAP net income is expected to be closer to $0.93 per share. Wall Street was looking for $1.01."
Agree. They are attempting to isolate the operating income EPS (non GAAP) for comparitive purposes while excluding supposed one time items.
What's interesting is that some companies also exclude stock compensation from non GAAP EPS amounts. I think it's all smoke and mirrors, but Skull should present its earnings this way which would increase its analyst estimates.
Considering the diluted shares and how much Andrus and Alden think about themselves and their ownership of the company and the lock out period bump of 6 million shares dumped into the EPS this year... This stock would be rocking on all cylinders right now!