Dec 20, 2005
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“Pro forma” was so 1990’s

"Non-GAAP" is the new "pro forma". Remember the exciting dot-com boom days? Everybody was reporting "pro forma" results. Pro forma in the 1990's turned into a euphemism for "We just made this stuff up". But after the dot-com bust and a series of accounting scandals, the phrase pro forma turned into a bad word on Wall Street. People swore off that...