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  "documentTitle": "Core Laboratories (CLB)",
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  "authorName": "David Einhorn",
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      "text": "The GAAP reporting understates Core's foreign exposure because when Core sends fluids from a well in offshore Angola to its labs in Houston, it counts it as U.S. revenue.",
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      "text": "In earnings calls and company reports going back to 2009, Core says 70% or more of its revenue originates from reservoirs outside the U.S., and last year it was closer to 80%.",
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