Latest Overstock.com Lie: 2007 First Quarter Numbers Were GAAP

Yesterday Sam Antar printed a very interesting piece on his blog that sharply criticized the 2008 first quarter earnings release of Overstock.com (NASDAQ:OSTK). I picked up the most damaging part of it, which related to Overstock claiming a 27% increase in revenue over 2007. The problem was that 2008 was …

More on the Overstock.com Accounting Shenanigans

This year, Patrick Byrne and company have taken a liking to discussing the Overstock.com (NASDAQ: OSTK) financials using non-GAAP measures. This means that they present certain financial figures that are not computed in accordance with GAAP (accounting rules). Who cares? As long as they disclose that they’re non-GAAP measures, it …