But I am not so sure according to this blog entry. Very confusing ...Many companies tend to categorize sales by regions or markets, while others segregate government sales. Additionally, intra-company sales, and hence profits, are sometimes structured to take advantage of trade, tax and regulatory polices. The resulting reported data available for shareholders is therefore significantly less than the desired level for analysis.Read more here: Foreign Sales - Love'em or Leave'em (Bloomberg Businessweek)
Note: I could not get the referenced PDF file report to open.
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