Monday, September 18, 2017 2:59:35 PM
I've been racking my brain trying to figure out (aside from the bigger question of how many revenues from their diverse segments) as many little "one-time" expenses and gains mentioned in (or deduced from) the last 10-Q in mid-May, and it seems like it's almost a wash between these 4 special one-time items that i estimate as follows:
--On the positive side, last 10-Q mentioned $280k in "net service revenues" from Singapore Metals, which would represent about 0.028 EPS on 10M f.d. shares, but i'm going to assume there's Asian taxes on that, so i'm going to say that about $180k-$190k of that goes to the bottom line, maybe a bit more if payment came in during the better exchange rate (RMB to USD) in the latter part of Q4. So i assume about 0.018 or 0.019 EPS added to bottom line for this.
--Another positive is the better exchange rate (RMB to USD) that i've previously mentioned for revenues that are paid in RMB/Yuan. Earlier i conservatively gave a figure of 0.005 EPS improvement, but maybe we'll get up 0.01 or more in EPS improvement off that.
--On the flip side, about 10% dilution will show up in avg weighted f.d. shares for the Q4, accounting for the shares from the Feb. offering that only partially showed up in Q3 accounting for the period ended March 30, 2017; applied to last qtr's earnings (0.143 EPS), that would represent a ding of about 0.014 EPS this time on new f.d. sharecount of ~10 million;
--$125k to complete payment of the $185k settlement with Alexander Chen (not to be confused with SINO's former interim VP and turnaround specialist Anthony S. Chan); so that represents about 0.012 EPS on the new f.d. sharecount if it's treated as an SG&A expense.
Add up these four items, and depending on how much SINO benefits from the exchange rate, these gains and dings should roughly cancel out each other.
I've not mentioned before that SINO has about $5 or $6 million left in NOLs for their revenues taxable in USA.
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