Asensioexposes!com offers accurate facts that disproves past criticism of the Manuel Asensio Reports. - Manuel Asensio Report: Jun. 30, 2003 PLMD's "advertising costs do not qualify for capitalization"

“Asensio casts a long shadow on Wall Street [...] there is little question that Mr. Asensio is intent on his work.”

Amanda Lang. Financial Post

Other resources of interest

A closer look at Manuel Asensio biography, Manuel Asensio positive outcomes, Manuel Asensio Reports, Manuel Asensio Research Legacy and other related information to Manuel Asensio

Manuel Asensio Report: Jun. 30, 2003 PLMD's "advertising costs do not qualify for capitalization"

Today PolyMedica disclosed in its form 10-K for its fiscal year ended March 31, 2003:

Note U. Subsequent Events:
"For several months, we have been discussing the appropriateness of this practice [capitalizing direct-response advertising costs] with the SEC. On June 20, 2003, the SEC informed us that it believes that our advertising costs do not qualify for capitalization under the direct-response advertising exception in SOP 93-7."

Manuel Asensio and Asensio & Company, Inc. ("Asensio") report that in a June 30, 2003 press release PolyMedica stated that if the company were to expense advertising costs as incurred "the company's guidance for its fiscal 2004 first quarter ending June 30, 2003 would be $0.66-$0.72", or $0.18 lower that its previous guidance.

[ Back ]