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Buried treasure?

You know you’re in for some trouble when the first footnote you come across in the 10-K stretches on for 10 pages. Welcome to JDS Uniphase’s (JDSU) world! The company, which once was on the tips of many investors tongues and a frequent subject of discussion on CNBC, filed its 10-K late yesterday. The stock, which once traded as high as $300 a share (pre-split), has seen its price double in the past year to over $3 a share. And several analysts have recently upgraded the stock. Hopefully, they’re busy slogging through the nearly 70 pages of footnotes — roughly 75 percent more than last year! When the footnotes are this long, it’s next to impossible for most investors to justify the time needed to even skim them. But if you own this stock, or are thinking about it, you probably want to pay close attention to JDSU’s restructuring charges and goodwill. At 7 pages long, the restructuring note is as good a place as any to start.