Hi Dig,
Here's how I derived my numbers:
"Group losses were 10.5m for 2011. Of these, 2.6m was related to increases in stock based compensation, 5.7m was related to salaries and 1.8m to professional services including acquisition costs. This adds to 10.1m. So Safend losses, which approximately accounted for the remainder were likely 0.4m or thereabouts.
Net group losses for the group in the year were 10.5m. 9 month losses were 5.9m. So Q4 losses were 4.6m.
If group losses were 4.6m, and Safend losses were 0.4m, then company losses were 4.2m."
#msg-695727
This was my calculation using the original report. Since Wave said the errors were with Safend, I've assumed the interim numbers for Wave (the company) were unchanged. Meaning Wave's loss was $4.2m.
So if the final number for group losses was $4.9m, this means that $0.7m of the loss relates to Safend.
On the other hand, we know that the one-off error value was calculated as $1.0m. This was a Safend-only figure.
Adding the $1.0m back yields the $0.3m normalised profit.
If the logic sequence is accurate, the number I've used isn't a guess, but it may have minor rounding issues.
(There was also a very small amount of Safend revenue in Q3, but with expenses this was likely not enough to make a material difference to a profit calculation)
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