Valens Research – UAFRS vs As Reported Weekly Highlights – July 11, 2018
July 16, 2018
Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals.
Company Specific Highlights & Insights
Ubiquiti Networks, Inc. (UBNT)
Excess Cash Distortion
Marks and Spencer Group plc (MKS:GBR)
Operating Lease Distortion
Sapiens International Corporation N.V. (SPNS)
R&D Expense Distortion