Non- GAAP reporting

Valeant Pharmaceuticals (NYSE:VRX): Valeant is one of the most prominent and controversial cases of non-GAAP earnings in the market today. According to GAAP numbers, Valeant lost $866 million in 2013, but by their own non-GAAP metrics Valeant earned $2 billion in profit. This disconnect comes from Valeant excluding the costs related to its numerous acquisitions, especially amortization of intangible assets. These exclusions are particularly offensive to me because they allow Valeant to obscure the major misallocation of capital from the firm's acquisition-driven strategy. The truth is Valeant overpaid when it bought other companies and to obscure the shareholder value destroyed by the company's touted acquisition strategy is blatantly misleading.

Additionally, John Hempton at Bronte Capital has outlined how Valeant may be putting recurring costs into excluded items.

Valeant also tried to sell investors on the idea that it was valued cheaply compared to the rest of the market by comparing its P/E with non-GAAP earnings to the unadjusted P/E's of its competitors and the S&P 500.




http://seekingalpha.com/article/2333125-danger-zone-stocks-with-most-misleading-non-gaap-earnings


Frauds!!!! Of course we all knew this all along!

 

So many people have read this from VRX but no one has commented! Seems to me like the response is- "shit, now this is well known info about us and we look stupid." Yes???

 

House of cards is about to come tumbling down. Look out below!!!!!!!

 

There are very few left at the bottom, so I suppose we should be worried, since this company is so top heavy, filled with fat useless people sitting in their plush offices....
But ya know what, who cares. The sooner this nightmare is over, the sooner we can get on with our afterlife...

 

Sounds like most at VRX know the true scoop with how your CEO is destroying your company. Never was a chance to get AGN! You all realize that don't you???

 

Fat hog mikey here.
We WILL GET AGN. Wallstreet wants it, I want it, nothing else matters except for how our stock shares increase. Money is everything, and all you little people mean nothing. Go back to your subserviant lives barely making ends meet, taking your useless families out to 7/11 for your once a week treat of hot dog big bites and junk food for cheap.
All that matters to us at AT THE TOP is how many more millions we can acquire in cash for ourselves on a quarterly fiscal basis.
Now puff away little peon pain in the asses.

 

Mikey get back to fudging your numbers. You have a big magic show tomorrow - pull non-existent profits out of your ass.

 

Oh come on everyone knows you report GAAP and non GAAP. It's all transparent. Investors use both numbers