More on BCSI (now 20.00)
I'm not in and not sure I want to be here even at 20.
But the "gaaaaaaap" is closed 'cuz there ain't much more gaap expected.
Financial Outlook
For the fourth fiscal quarter ending April 30, 2006, the Company currently anticipates net revenue in the range of $34.5 - $35.5 million. GAAP net income is expected to be in the range of $0.5 - $1.3 million, or $0.03 - $0.09 per diluted share. On a non-GAAP basis, which excludes the amortization of intangible assets, net income is expected to be between $0.8 - $1.6 million, or $0.05 - $0.11 per diluted share. These estimates for the fourth fiscal quarter of 2006 reflect Blue Coat's acquisition of Permeo Technologies, Inc. ("Permeo"), which is expected to close on or about March 1, 2006. The guidance above includes operating expenses related to Permeo in the range of $1.0 - $1.2 million (which represents monthly operating expenses in the range of $0.5 - $0.6 million related to Permeo), and has a dilutive effect of $0.06 - $0.08 per diluted share on both a GAAP and non-GAAP basis. Purchase accounting expenses related to the acquisition of Permeo, such as the amortization of intangible assets and in-process research and development expenses, are not included in the guidance above as such amounts are not currently available.
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