What I am seeing....
doesn't really take me where I want to go. Notice, the numbers proffered were for the year and suspiciously did not break down the fourth quarter numbers. So, I did a little math, taking the 3rd quarter numbers and subtracting them from year end numbers. Not a good picture.
For instance, at the end of the forth quarter, we show year end earnings of .01 per share. However, for the nine months ending the 3rd quarter, we had earnings of .02. My deduction from this means we lost a penny of earnings in the fourth quarter. Not a big deal, I guess, but I was thinking we would have more positive numbers for year end. Maybe costs associated with opening new offices and business expansion were the reasons for a smaller bottom line.
In addition, and correct me if I am wrong, I think I read that Smart Tek Solutions contributed 51% of revenues. That means Smart Tek Communications added 49% to revenues. What the bottom line for profitability is, was not clear to me. I guess we will find out more after divestiture of Smart Tek Communications, but I'm getting a kind of sinking feeling here. Like, is the more profitable portion of this company going private? Again, we'll se after all the smoke clears.
On a positive note, as of Sept. 2010, we don't see any dilution to the float.
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