Re: ted, just to interject on two things in your dispute
with chic about INTC and CSCO earnings
Petz,
Sometimes when looking at the numbers it gets confusing
when talking about pooling of interest, profit margins,
investment income, accounting for options, etc.
With Cisco, it's pretty well spelled out in black and white
right in their earnings statement. Take a second to just
ignore all the accounting stuff and look at these two
numbers YoY:
Quarters Ended
July 29, July 31,
2000 1999
Net gains realized
on minority
investments 344 --
Interest and other
income, net 197 93
There it is in black and white. The same quarter last year
there were ZERO investment gains needed to show profit
growth in line with revenue growth. This year it took
$344,000,000 plus an additional $104,000,000 in interest
income. That's a total of $448,000,000 for the quarter
that wasn't needed last year, but was needed this year.
Whatever accounting method you want to go with, these
numbers speak volumes as to why the reported bottom line
looked so pretty.
chic |
