A simple question. Is any part of the four (?) corporate jets ever put into the one-off basket like royalties (which were continuing) for Galderma?
For reference - future post coming - this is the largest corporate jet. It is basically the fastest, longest range and most expensive corporate jet on the market. It is a Gulfstream 650...
PS: There were denials (plausible) of many of my assertions in the conference call. However they simply admitted the piece about the royalty paid to Galderma. They accrued a liability for ROYALTIES on Galderma and wrote that royalty off against current earnings thus raising the "cash EPS" during that period.
Given they are selling the product they are going to reverse the rest of that liability through the purchase price. [Simply they will not receive the whole purchase price in cash - some of it will be cancelling a liability they have accrued.]
Tuesday, June 17, 2014
Posted by John Hempton at 10:31 PM
The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author. In particular this blog is not directed for investment purposes at US Persons.