Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Wednesday, April 26, 2006
Align Technology Tortured Loss Explanation
Align Technology (Nasdaq:ALGN) lost money in Q1 2006. The press release does not deal with the loss until you are well into the text. CEO and president Thomas Prescott is attributed some very convoluted language about product mix within the press release. He also claims in his remarks that revenue and volume growth are critical. The press release clearly states revenues are down. Are they really switched on in this shop? Or are they blowing smoke?