GeoEye Files Its 10K with the SEC: Lifting the Cloud
After close today, GeoEye (GEOY) released its 10K, which is located here.
The bottom line is that they have clarified the NOL tax issue with the IRS and it is not all that significant. They did restate their net earnings from 3Q07 (and for Q1 - Q307 as a whole).
Fully diluted EPS for 3Q07 is now $2.20 instead of $2.67 (a 17.6% decrease). Fully diluted EPS for the first 3 quarters of 07 is now $1.87 instead of $2.38 (a 21.4% decrease).
All these do not obviously affect operating performance. GeoEye states that it is still going to press the matter "vigorously" about whether this conservative treatment is in fact warranted.
In the meantime, for shareholders, this news will be welcome to turn the page on the uncertainty hanging over the company since the last earnings call which, otherwise, had some very strong news.
Now, we look to GeoEye-1's successful launch: scheduled for August but hopefully sooner.
In the meantime, I will continue to press my previous points to management and the board.
