KSWS: Keep This One on Your Screen Today

07/31/08 08:29AM EDT
Decent number out of KSWS this morning. EPS about in line, and revenue beat. But the company took down revenue guidance for 2H as I suspected. How I am doing the math, backing out the impact of the $30mm PSS settlement (which helps by about $0.58ps) KSWS took the year down as low as a loss of $0.08 (range of -0.08 to +0.07) versus the current consensus of $0.18. I think this is conservative guidance. Importantly, it masks the cash flow growth to come in '09. Check out the comment I posted yesterday afternoon for better context.
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