smoking gun I refer to the bottom line when it comes to net earnings. The company does not project any net earnings this year. Operating profits don't represent the bottom line because there are expenses to be deducted from operating profits. Because the company soeems to expect the bottom line to be negative or to show an uncertain mimimal profit it chooses to distract investors by referring to operating profits I think. With 280 million dollars a net profit margin of only 3% would have resulted in net profits of 8.4 million dollars.