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Best Buy Co., Inc. Message Board

  • reitdude42 reitdude42 Mar 4, 2013 11:31 AM Flag

    4Q numbers....

    ...a lot of talk from the shorts related to last week's earnings release specifically highlighting that net income attributable to shareholders was -$409M.

    It was.

    However, that number included a few non-cash charges that are ONE-TIME in nature.

    One-time, people. Non-recurring. Will not impact earnings again. Can it be any more specific?

    An $822M impairment charge in Canada and China. A $203M resturcturing charge in Canada and Europe.

    Add those back (to reflect their on-time nature) and you had strong non-GAAP earnings of $555M that beat consensus estimates handily.

    Moreover, even with:

    * closing 49 big box stores domestically
    * a 6.6% decline in same-store sales internationally

    BBY increased revenues in the quarter! $16.71B in 4Q13 vs. $16.67B in the prior period.

    So...yeah...let's talk a little more about 4Q numbers....

    And if you want we can also discuss how free cashflow for fiscal 2013 was $965M vs. previous guidance of $500M...

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