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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.11

+0.9%

Nov 21 3:59 PM EST

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To: Zoltan! who wrote (35085)	5/9/2000 5:35:00 PM
From: Kenneth E. Phillipps	Read Replies (1) of 77400

Profit from operations also excludes payroll tax on stock option exercises and gains from some investments. bloomberg.com Why would they not treat payroll tax on exercised stock options as an expense in computing profits from operations?

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