WWE incorrectly recorded losses for 2003

[Guest slacklet]

http://www.reuters.com/financeNewsArticle....storyID=4927533

 

World Wrestling Entertainment amends '03,'04 reports

 

LOS ANGELES, April 23 (Reuters) - World Wrestling Entertainment Inc.(WWE.N: Quote, Profile, Research) on Friday said it had revised accounting around a 2001 acquisition and amended Securities and Exchange Commission filings for 2003 and 2004, in part showing a larger loss for 2003 than previously reported.

 

The 2003 net loss rose in an amended report to $19.5 million, or 28 cents per share, from a previously reported $19.2 million, or 27 cents per share, the Stamford, Connecticut company said.

 

The company changed recording of costs related to the March 2001 acquisition of assets of World Championship Wrestling.

 

Some $6.6 million in costs from the termination of some WWC licenses which had originally been capitalized as intangible assets were recorded as expenses in 2001 and 2002 in the amended filings.

 

Another $2.5 million of the purchase price was amortized over six years, the company said.

 

It lowered profit reported in 2002 and 2001 and said annual amortization expense would increase by approximately $400,000 in fiscal 2002 through 2007.

 

It amended fiscal 2004 quarterly financial statements to reflect the $6.6 million decrease in gross intangible assets and additional amortization expense of approximately $300,000 for the nine months ended in January

[MrRant 0]

The stock isn't going to plummet moron.

 

It's a minor amount of money.

[snuffbox 0]

Im not too big into the stock market....

 

How exactly will this impact the wwe stock so negatively?

[Guest slacklet]

The stock isn't going to plummet moron.

 

It's a minor amount of money.

http://www.investors.com/breakingnews.asp?...=20856857&brk=1

 

Stocks to watch Monday: EDS, WWE, HUM, SYY, ABC

 

A roundup of news and developments likely to move stocks at the open of trade on Monday. Plus, stocks that made significant moves in Friday's U.S. equity trading.

 

World Wrestling Entertainment (WWE) filed amended versions of financial reports late Friday that reduce slightly previously reported profits for a three-year period. World Wrestling's revisions, related to the March 2001 acquisition of World Championship Wrestling, moved $6.6 million of costs, which were originally recorded and capitalized as intangible assets, into the selling, general and administrative expense columns for fiscal 2001 and 2002. See full story. Shares of World Wrestling ended the regular New York session with a loss of 2.2 percent at $15.02, ahead of the announcement.

[MrRant 0]

At most it goes down like a buck. The 2.2 percent it lost was like... 30-40 cents.

[Guest slacklet]

At most it goes down like a buck. The 2.2 percent it lost was like... 30-40 cents.

The story says trading closed today "ahead of the announcement".

 

Which would mean the current closing price doesn't reflect the news at all.

[MrRant 0]

http://moneycentral.msn.com/scripts/webquo...e=qd&Symbol=wwe

 

$15.02 is it's closing price.

 

It lost a whopping .34 cents.

[Guest slacklet]

http://moneycentral.msn.com/scripts/webquo...e=qd&Symbol=wwe

 

$15.02 is it's closing price.

 

It lost a whopping .34 cents.

Dude - the news broke on Business Wire at 5:00 ET today.

 

Stocks closed at 3:00 ET.

 

What part of this aren't you getting?

[MrRant 0]

That includes after hours trading is the point I'm making. Chances are it does drop a bit more Monday but doesn't plummet.

[Guest slacklet]

That includes after hours trading is the point I'm making. Chances are it does drop a bit more Monday but doesn't plummet.

http://www.investors.com/breakingnews.asp?...=20855297&brk=1

 

Shares of World Wrestling closed down over 2.2 percent at $15.02. They did not trade after the bell.

[snuffbox 0]

Nothing more exciting than stock trade arguements...

[MrRant 0]

I missed that in the full release and what you quoted seems different from the link you just now posted.

[MrRant 0]

And on a good note... I get to make some money since Comcast swung a profit.

 

Go Comcast.

[Guest slacklet]

I missed that in the full release and what you quoted seems different from the link you just now posted.

I'm resourceful.

[Guest slacklet]

double post

[Guest Man Of 1,004 Modes]

I have good news and bad news...

 

 

The bad news is...I don't own stock in anything.

 

the good news....I just saved money on my car insurance.

[Damaramu 0]

I have good news and bad news...

 

 

The bad news is...I don't own stock in anything.

 

the good news....I just saved money on my car insurance.

Did you switch to Geico?

[Guest Man Of 1,004 Modes]

I have good news and bad news...

 

 

The bad news is...I don't own stock in anything.

 

the good news....I just saved money on my car insurance.

Did you switch to Geico?

Naturally. Anyway, this is an example of threads that should be contained to minor news of the day. I doubt ANYONE who posts here owns stock in WWE, and thus wouldn't give half a rats ass.

[Tawren 0]

I have good news and bad news...

 

 

The bad news is...I don't own stock in anything.

 

the good news....I just saved money on my car insurance.

Did you switch to Geico?

Naturally. Anyway, this is an example of threads that should be contained to minor news of the day. I doubt ANYONE who posts here owns stock in WWE, and thus wouldn't give half a rats ass.

I actually bought a couple of stocks last week.

 

I'm justified now in bitching about how they run MY goddamned company

[Guest Man Of 1,004 Modes]

You should own stock in "medical treatment for people abused by the Hart Family". You would be the biggest investoer since you attract ass kickings from them

[Tawren 0]

You should own stock in "medical treatment for people abused by the Hart Family". You would be the biggest investoer since you attract ass kickings from them

I'd respond, but Teddy Hart just BACKFLIPPED ME TO DEATH BAH GAWD KANG STONE COLD STONE COLD STONE COLD.

[Guest Man Of 1,004 Modes]

Was it bowling shoe ugly or was it not for the weak heart people?

[Tawren 0]

It has been described as an "unorthodox maneuver" and a "side slam" by JR.

[MarvinisaLunatic 0]

I wonder what JBL thinks of this?

[Guest wrestlingbs]

I wonder what JBL thinks of this?

I think he doesn't care, because he's going to get pushed anyway.

[MarvinisaLunatic 0]

I wonder what JBL thinks of this?

I think he doesn't care, because he's going to get pushed anyway.

But, JBL is the WWE's resident stock guru, surely he would have an opinion on this..

[Guest Man Of 1,004 Modes]

I wonder what JBL thinks of this?

I think he doesn't care, because he's going to get pushed anyway.

But, JBL is the WWE's resident stock guru, surely he would have an opinion on this..

JBL: Keep pushing me, boss hogg, it will make millions in the long run!

 

Vince: Damn it, you're pushed! Someone bring me that big doofy guy who has our title.

 

Random Guy: Uh...sir, he left 2 months ago. Eddie Guerrero is champion.

 

Vince: Who gave that s***k the title?! Wait...I have a vision....John, you go out and insult mexicans every week, then you get the title in five minutes at Judgment Day. I'm a genius.

 

Random Guy :(under breath)God damn it...

 

Vince: What was that?!

 

Random Guy: Uh...Good plan, its' god damn good. It will rake in millions. (rips up booklet of new boats)

[Guest Brian]

It'll make up whatever they lose easily when they come out with the quarter reports. I'll guarantee that.

[iliketurtles 0]

It'll make up whatever they lose easily when they come out with the quarter reports. I'll guarantee that.

Easily. Once they show all the money they made off of Mania...that stock will probably go up a dollar.