- In its SEC filings, NCR notes - 'GAAP diluted EPS and non-GAAP diluted EPS may not mathematically reconcile.' In layman's terms, the numbers do not add up.
- I had a boss once who was fond of gems like, 'figures don't lie, but liars can figure' and 'numbers are dangerous'.
- Under his mentorship, I developed a healthy skepticism for numbers in financial reports, whether or not they added up.
- I have filled in the missing gaps in NCR's financial presentations to better understand why and how GAAP and non-GAAP results differ, and of how much concern the differences should be to investors.
- But of greater concern, the numbers show the hundreds of millions spent on non-GAAP costs of transformation and restructuring, are not bringing the promised savings.
For further details see:
NCR: The Numbers Don't Add Up