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	<title>The Swamp Report &#187; beating expectations</title>
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	<description>Political, Economic, and Finance related commentary. J.D. Swampfox Associates report on battles for prosperity against the &#34;Tarleton&#34; of big government.</description>
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		<title>2Q09 GAAP earnings 44% BELOW 2Q08</title>
		<link>http://www.swampreport.com/investments/2q09-gaap-earnings-44-below-2q08/</link>
		<comments>http://www.swampreport.com/investments/2q09-gaap-earnings-44-below-2q08/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 15:48:22 +0000</pubDate>
		<dc:creator>J. D. Swampfox</dc:creator>
				<category><![CDATA[Investments]]></category>
		<category><![CDATA[beating expectations]]></category>
		<category><![CDATA[GAAP earnings]]></category>
		<category><![CDATA[operating earnings]]></category>

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		<description><![CDATA[In a recent post we highlighted the ease with which analysts can game the earnings forecasts and actual results by focusing on operating earnings which exclude what the analysts argue are &#8220;one-time items&#8221;. Now TPC has a post which reminds us that when we focus on GAAP, that is &#8220;as reported earnings&#8221;, they are down [...]]]></description>
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