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QLogic Corp. Message Board

  • sugarr_daddy sugarr_daddy Oct 31, 2000 5:44 PM Flag

    You have the Ancor Numskulls to thank..

    DON'T TRUST THE ACTUAL RESULTS! QLOGIC PROVIDES
    "PROFORMA" RESULTS THAT ARE MUCH MORE MEANINGFUL. WE WISH WE
    DIDN'T HAVE TO USE GAAP, BUT THE CON MEN OF THE SEC
    INSIST. THAT'S RIGHT, THEY WANT YOU TO BE FOOLED, BUT WE
    WON'T LET THEM GET AWAY WITH IT. FORGET GAAP, TRUST US.
    WE WILL BURY THE GAAP NUMBERS IN SMALL PRINT.
    OTHERWISE, OUR BELOVED RETAIL INVESTOR MIGHT DO THE WRONG
    THING. DON'T WORRY, OUR PROFORMAS ARE THE ONLY NUMBERS
    YOU NEED TO KNOW.

    NOW THE SMALL
    PRINT:

    Actual results for the second quarter ended October 1,
    2000 included operating expenses of $48.6 million and
    net loss of $1.3 million, compared to a net income of
    $12.3 million a year ago. Actual second quarter
    expenses included a charge of $22.9 million in merger and
    related acquisition expenses for the Ancor merger, and a
    higher tax rate due to certain non-deductible merger
    costs.

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