GA Earnings

Not sure how I overlooked Giant's Earnings last night.

GA - I reviewed them quite a bit over the weekend, but looks like a solid quarter (Giant Interactive Announces First Quarter 2013 Results).  They made 23 cents a share, which was largely in line.  They are still projected to make 91 cents for the year (share price around $7.90).  They now have 484m in cash.  This is a $1.9b market cap company, so that is a lot of cash.  They will be paying a 42 cent dividend this month (very nice) and are instituting a semi annual dividend (not clear what this will be, but 20 cents twice a year would seem reasonable).

Since I had just gone on a tirade on CA about "share-based compensation" being excluded in non GAAP income, I looked closely at GA.  As I expected, it is there as well.  Slightly smaller scale, for CA it raised the earnings per share from 53 cents to 57 cents (a 7.5% rise). For GA it went from 21.3 cents to 22.4 cents, about a 5% increase.  I will have to look at my formulas, but I am pretty sure I include all compensation costs as I go straight to the income statement, not using a earning per share calc, which are often non GAAP and make some squirrely adjustments.