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Re: jedijazz post# 6418

Thursday, 11/16/2017 11:13:27 AM

Thursday, November 16, 2017 11:13:27 AM

Post# of 7213
Quite a good quarter, here are some initial observations:

1) Great to see them provide the reconciliations of non-GAAP #'s to GAAP #'s. This is what the SEC is looking for.

2) Not sure why they left out the $2M income from change in warrant liability as an adjustment to get to "Adjusted Net Income". Most companies make this adjustment. If you make this adjustment their Adjusted Net Income per share goes down to $1.24 for the qtr., which is still quite an amazing figure considering where they were just a quarter ago. At the current stock price this puts the annualized adjusted earnings multiple at just under 2 X, an absurdly low multiple given this company's growth rate.

3) Not sure why they couldn't have provided at least a summary balance sheet -- most companies provide that. Makes you think, what are they trying to hide?

4) Glad to see them get this out today vs. waiting for Monday since next week is a short week with Thanksgiving and this will give the stock a full week to run before everybody takes off.

5) After giving this some thought I'm actually glad they didn't include any guidance for 4Q, since the earnings #'s are big enough news for the market to digest for now. This leaves open the opportunity for them to issue prelim sales numbers in, say, early January.
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