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Technology Stocks : Compaq
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To: rupert1 who wrote (77827)2/9/2000 11:26:00 PM
From: rudedog  Read Replies (2) of 97611
 
Victor -
I think you slipped a cog here:
1Q earnings are typically flat or up slightly on 4Q.
1Q earnings have been substantially lower than 4Q, going back more than 5 years... just looking at the last 3 transitions of 4Q to 1Q, '96 to '97 down 16%, '97 to '98 down 72%, '98 to '99 down 64%.

Capellas was pretty clear that the growth figures he was discussing were operational income, and that income from other sources (such as asset sales) would be in addition to that - at least that's how I read the material.
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