Green Packet Earnings

Ok, I had blogged about Green Packet's share buybacks: Regarding Green Packet's Share Buybacks and Update on Green Packet's Share Buybacks

Firstly, Green Packet was featured rather aggressively in the news: 4 Feb 2008: Corporate: Taking a chance on Green Packet and 25 Feb 2008: Corporate: 'Transformation year' for Green Packet.

So when I saw Green Packet had announced its earnings, I was rather excited. Believe or not but I was guessing for a weak set of earnings!

And weak it was!

A quarterly net earnings of only 277k???

Rather ironic if you look at the chain of events.

You have the stock collapsing.

And then you have the company buying back their shares aggressively.

And next you have the stock actively featured in the weekly financial news.

And now... showtime! A net quarterly earnings of only 277k!

How?