When you calculate EBITDA at Avigilon, there is a one-time expense that shows up in this quarter of 2.35 million. I wonder if you could elaborate, discuss what that is?
Ric Leong
Those are costs referring to non-related legal costs that we don’t we see as costs being incurred in future years, so not part of the running operational of the business…
Hi again Andy,
A $2.35 million write-off seems like a heck of a big write-off to slip past us without mentioning it somewhere, don’t you think? That just about comes to what their average entire net income is for the last four quarters, so it’s not some insignificant sum. They didn’t even mention it, either in their press release or in their prepared remarks, and were obviously hoping no-one asked, and then they gave a non-informational response. They would have had a big miss on adjusted earnings without it.
That doesn’t mean earnings won’t take off as you are suggesting. Just that you have to keep your BS Meter turned on, for sure.
Best,
Saul