The company reported a net loss from continuing operations of USD55m, including purchase accounting
and transaction-related costs.
Mastercard expects the transaction to be dilutive for up to 24 months after the deal closes, primarily related to purchase accounting
and integration related costs.
* Consolidated reported operating profit decreased -15.2% to 205.0 billion yen, and consolidated reported EPS declined -52.6% to 113 yen per share, mainly impacted by significant non-cash purchase accounting
Previously, Zumbo has led and managed purchase accounting
and financial due diligence for 27 M&A transactions and related integrations.
Thor expects the transaction to be accretive to earnings in the first year, before taking into account anticipated synergies, purchase accounting
adjustments and transaction-related expenses.
Excluding purchase accounting
yield adjustments, the net interest margin would have been 8 basis points lower, or 3.39%, for the three months ended March 31, 2018.
"We are in the preliminary phase of the purchase accounting
process, including obtaining third-party valuations of certain tangible and intangible assets acquired.
Net interest income was positively impacted by purchase accounting
accretion in each of the periods totaling USD 137,000 in the first quarter of 2017, USD 114,000 in the first quarter of 2016 and USD 187,000 in the fourth quarter of 2016.
As part of the purchase accounting
, the deferred revenue would be adjusted to fair value, which may be somewhere between $0 and $80, most likely closer to $0.
Percentage of accounting-related securities class action cases that cited a particular issue 2014 2013 Internal controls 58% 70% Revenue recognition 38% 39% Other 32% 26% Understanding of liabilites & expenses 30% 15% Overstatement of assets 21% 26% Estimates 15% 20% Purchase accounting
6% 13% Source: PricewaterhouseCoppers Note: Table made from bar graph.
Its full-year 2014 net revenue is expected to be approximately USD40m (excluding any potential write down of deferred revenue resulting from purchase accounting
adjustments), of which about 75% should be derived from SaaS analytics tools generating highly-recurring subscription fees.