Since I can't post it in that forum I'll post it here.

Keep in mind that this 18 million profit is the operating income. Operating income is the income before taxes, interest, depreciation, and amortization. To get to the bottom line, or net income, these are deducted from the operating income. I imagine that the net income for '05 was negative after those factors were included, and I assume this is what Allen was referring to when he claimed that the Reds lost money in '05. No I don't know for sure that it was negative, but when Allen said the Reds lost money for all those years I assume he was referring to net income, not operating income.