**** The book value of the stock is 6 pennies and the Liabilities are 2 Billion MORE than the Assets. ****
Help me out here Super. I've never seen a balance sheet with a book value of 6 pennies and liabilities that exceed assets. If liabilities exceeded assets wouldn't you have posted about a negative book value.
**** Nobody is going to give you 8 bucks a share when the net value of the company is less than zero. ****
You need to check out the most recent balance sheet. Do you even check out RAD reported information before you post?
A liberal/progressive/communist weighs in. Stalin, Hitler, Mao would be proud.
caseyboy416 - do you remember birthdays and anniversaries? You've got the dates wrong.
**** I suspect the back story on the low guidance for 2016 is that the last CFO lost his job because he made overly optimistic projections, ****
I don't think so. I believe that his conservatism and relationship with the banks through 2008-2009 got us to this point. I believe that there are other CFOs that could have done the same, but I do believe that a lesser CFO would have put RAD into BK back in 2009.
And here is the response that I received from ahrvincemt:
**** Sorry EMT but I am staying long long long and will not sell even one share of this stock no matter what nonsense you are talking about..... Go Brian. Buy it, Hold it and Forget it (until 25). ****
Here is my question to ahrvincent on January 7, 2015:
"So, my question on income taxes remains - does the $1.31 EPS that Brian came up with, and you agree with, reflect a normalized income tax expense, which wouuld approximate 40%?"
Here is the thread. ahrvincent received 15 thumbs up for forecasting profit of $0.82 per share for FY16, which he thought was conservative.
**** Go look at my prior posts ****
This is my response to you when you posted FY16 guidance of $0.82, which included $0.20 for Envision. I forecasted $0.30, without Envision, which is a little higher than the top end of guidance.
**** Anyone disagree with this theory? ****
How are you coming up with these numbers? I generally try to stay out of predictions, whether SSS or EPS. But, I don't expect RAD to report FY2016 full year GAAP EPS guidance anywhere near $0.82 per diluted share this coming April.
- In the last 2 quarters, RAD had about $254 million of pre-tax income. If I apply a 40% income tax rate to that number, which is where I believe RAD's income tax rate will be in FY2016, I get to a net income number of about $152 million for 2 quarters, or about $0.15 per diluted share. I estimate FY2016 net income of about $304 million, or about $0.30 per diluted share, before Envision, using those 2 quarters (not $0.62).
**** The reclassification of the deficit (accumulated tax loses) on the balance sheet to a deferred tax asset is for presentation purposes and it has no effect on earnings. ****
Not true. There wasn't a reclassification, a large tax credit was recorded to increase the deferred tax asset. As the deferred asset is utilized, the offset is to income tax expense.
When comparing FY16 guidance to this year's results you have to take into account the fact that RAD only expensed minimum state income taxes this year. While next year's eps will reflect about a 40% tax rate, most of which is non-cash. So, $0.45 looks pretty good to me.
**** This Q4 number of $1.79 that has me wondering what that is. ****
I've posted about the reversal of RAD's valuation allowance on deferred income taxes a number of times this year. It's a one-time non-cash tax credit. Going forward RAD will record non-cash deferred income tax charges for the deferred income taxes that are now effectively back on its books.
**** I always ask who is selling? ****
I did. Sold about 275K shares yesterday and today at an average price of about $8.76 per share. Alll shares were in my IRA. I've posted before that I'm not worried about Q4, I'm just not sure about FY16 guidance. I still own over 125K shares. So, if I miss a big run up on the shares I sold, no regrets. GLTA.
xirio_res - Please learn to read. The fact that they're reporting on a Wed. and not a Thurs. is what prompted my post. But, maybe it's as simple as Standley is taking a 4 day weekend.
**** Get a life ****
I do have a life and at these levels my RAD investment is worth about $3.5 million (pre-tax) with a cost basis of about $400K. Actually, I did sell 100K shares today at about $8.72. So, technically my RAD shares are worth about $2.6 million and I have $872K sitting in cash. I made this money, in part, by sweating the small stuff. How does your investment in RAD compare?
I'm trying to remember if there has ever been a RAD earnings release on a day other than a Thurs. In 2011 through 2014, they all took place on a Thurs, I looked to see if there might be an investors presentation scheduled for that Wed., so they might have to report early, but didn't find any news. Just seems a bit odd to me.