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The quarters non-GAAP figure excludes a stock-based compensation expense and related tax effects, while last years period excludes a stock-based compensation expense, a one-time litigation settlement expense and the related tax effects.
By 2004, says Essner, American Home will have $20 billion in sales, a 50% increase over 2000, and $4.6 billion in profit, up from $2.5 billion last year (before adjusting for one-time litigation charges and asset sales).
One times one is.
By the time litigation is completed, the anger -- if not the accusations -- becomes reality.
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The Xerox Corporation reported a first-quarter net loss yesterday as a one-time charge for litigation wiped out a profit.
But earnings declined 32% quarter-over-quarter, which analysts attribute to the company's recent relocation and a comparison with a one-time gain from a litigation settlement that boosted earnings for the 1999 period.
Excluding one-time charges like restructuring and litigation costs, Medtronic says it earned 79 cents a share.
Excluding a one-time gain of $67 million from settling litigation, earnings would have been $3.38 billion, or $1.21 a share.
MasterCard's most recent quarter included a one-time, $6 million charge tied to a litigation settlement.
The company attributed the net loss to a one-time payout of $327 million to settle litigation, demutualization expenses of $129 million and realized investment losses of $33 million.
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