That's true.
I sold near the 52 week high and bought near the 52 week low. That's generally
the way I prefer to trade, although I'm not that astute every time.
You might want to peruse the comparative SFAS 123 data that Greg, Pirah, and
Michael referred to stating the real earnings of Wind River and RadiSys after
stock option grants are treated as a personnel expense. Here's the data for
RadiSys:
Year Ended December 31, 1996 Year Ended December 31, 1997
-------------------------------- --------------------------------
Earnings per Share Earnings per Share
------------------ ------------------
Net Income Basic Diluted Net Income Basic Diluted
---------- ----- ------- ---------- ----- -------
As Reported $9,546 $1.38 $1.30 $15,425 $2.01 $1.93
Pro Forma $8,533 $1.23 $1.19 $12,904 $1.68 $1.60
Compare it to Wind River:
FISCAL 1998 FISCAL 1997 FISCAL 1996
- ----------------------------------------------------------------------------------
Net income:
As reported $ 4,870 $ 11,280 $ 5,383
Pro Forma (5,782) 7,296 4,248
Net income per share:
As reported
Basic $ 0.19 $ 0.49 $ 0.26
Diluted 0.17 0.43 0.23
Pro Forma
Basic (0.23) 0.32 0.20
Diluted (0.23) 0.28 0.18
As you can see, RadiSys has earned $21.4m in the last 2 years and Wind River has
earned $5.8m in the last 3 years. There's really no comparison and you should
also consider buying RadiSys at the current low price. |
