I was just looking at the Sept quarter results of ULTI, a RB recommendation that I took a starter position in because it sounded good, but then sold out of because the price was ridiculously high. This quarter GAAP earnings were 67 cents, up from 22 cents. Adjusted earnings were 50 cents up from 40 cents. Which do YOU think gives a more accurate comparison. GAAP includes all kinds of one time tax benefits and other junk. Adjusted is just nice and comparable to the year before and quarter before. (Adjusted earnings for the first three quarters are 47, 46 and 50. For last year it was 32, 34, 40 and 54. None of the crazy jumping around that you see with GAAP).
By the way, the reason I’m not in it with such nice earnings is that trailing earnings are $1.97 and price is $141, which gives it a PE over 70. If they grow earnings at a nice steady and impressive 30% per year with no hiccups, at this time in 2016 they will have adjusted earnings of $3.33 and a PE of 42. So where is my hope of substantial gains?