John:**OT**
First, what might be considered a trivia question: Was Amdahl considered a major competitor of IBM in the past? Without checking, I do not know if this company is even around any more.
> Even so, overall revenue growth
> has been sluggish for the company, and many critics say that the only reason the
> earnings numbers are there is due to the massive stock buyback program and other
> 'financial engineering' tricks.
Althought not an analyst, I am one of those critics. If you have a copy of the annual report handy, take a look at changes in revenues for the various business areas for the past 3 years. Hardware, services, software revenue growth, blah. Now look at the costs for each of these categories. At least to me, a few tricks take place farther down the financial tables to come up with earnings.
Lynn |
