You idiots, stock repurchase is a no-net-gain transaction. They're trading shares for cash (sorry, I mean CA$H-MONEY) and it doesn't get reported as operating income or loss. In addition, stock repurchase increases the value of the outstanding shares.
See what I mean?
We are making it way too easy for Jerry. Go find someone who actually understands anything at all about accounting or finance and bug them. I just don't have the patience to try and explain the obvious anymore.