bald mountain....
Thanks for the earnings reports - I had finally found TER's report but missed LLTC.
LLTC beat slightly, with revenues at the high end of estimates. The said their order backlog was very low and based a 3% revenue and earnings growth on solid information and data, namely that historically, that is what they usually do.
"Well gee, we don't have a clue whether we will have a good quarter or go bankrupt, but historically we grow 3% in the March quarter so we will just use that figure. The fact that our backlog is just about zilch and there is little demand out there has nothing to do with it. But hey. if you want something, our lead times are down to practically nothing."
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TER, on the other hand, through sheer magic transformed a $2.31/share loss into just a 20 cent loss through the power of "pro-forma" fictitious earnings. It never ceases to amaze me that folks actually believe such garbage.
"Hey - how much did we lose?"
"$2.31/share"
"WOW, that bad, huh. How much do wish we had lost?"
"Well, if we had only lost 20 cents per share, we would have beat estimates"
"No problem. I'll just juggle the books a little, a charge off here and a charge off there, here a charge off, there a charge off, everywhere a charge off. - POOOF - now we lost only 20 cents per share and beat estimates. IT'S A MIRACLE!!!!"
And of course, after all that, they guided significantly lower for next quarter, taking down estimates for the quarter by 50-70%. SURPRISE !!!!!!!!!!!
Sheeeesh.
mlsoft
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