Good Morning HHSE Friends & Shareholders - A few years back, three filmmakers produced a hilarious short film about a country-accountant, that went on to win the Academy Award in the short film category. Actor / Producer Ray McKinnon ("The Blindside") was joined by his talented wife Lisa Blount and the ubiquitous TV and Film actor Walton Goggins ("The Shield") in a film that says: "I'll show you numbers that will make your head swim!"
Apparently, heads are swimming today at HHSE with the stellar results of the Company's Q4-2013 period. With major increases in revenues and profits year-over-year, calculating "percentages" can be challenging when the growth is in the multiple hundreds-of-percentiles.
One adept shareholder contacted HHSE this morning to point out that the earnings news release (posted this morning) contains percentage increase calculations that did not calculate the ratio properly. Instead of 390% increase in revenues, the ratio formula would show a 290% increase... same issue with earnings. The growth in both categories is still staggering, and the proper percentile ratios will be reflected when the full financial filings are released next week to the OTC Markets and the S.E.C. Edgar database (as the Company's official numbers). The informational press announcement this morning on the Company's Q4 earnings was just that... a heads-up advisory for the upcoming (and formal) financial filings.
Most companies are happy to deliver 10-or-15% increases. These are pretty easy percentages for press-type folks to calculate. But when you get results that are MORE than double - and you cross into greater than 100% increases - it's possible for a press team to make a percentile calculation error when writing a release from what is otherwise just a page of numbers. With Hannover's impressive results, we're crossing into a whole new realm of growth and opportunity; we'll make sure that next Q's results (if they're greater than 100%) will reflect the proper percentage improvements!
Meanwhile, if you get a chance, definitely check out "THE ACCOUNTANT."