The Company designs, develops, manufactures, markets and supports portable, software driven, 3-D measurement systems that are used manufacturing, industrial, building construction and forensic applications.
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The market seems to be having trouble distinguishing between one-time charges and long-term financial results today....
It's not that simple. Even after excluding the one-time charge, net income of the quarter is $.25, about 35% lower than the last quarter, and 25% lower than Wall Street expectations. If you extrapolate the current quarter's income (after excluding the one-time charges), you'd have $1 annual EPS, translating to a P/E ratio of 28.5 even at post-drop price. I would think that the fall was justified unless there is new evidence to show that this quarter is only a one-off (without considering the one-time charge). If the stock goes up without such supporting evidence, it would only be the result of people's misunderstanding the true earning reality of the company.
Besides, I hate to say this, but bribing works in China. and it obviously worked for this company. Now that the company is likely to stop bribing, one better be worried about its performance. I'm sorry for being so cynical, but I'm afraid that this is the reality.