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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.74

+2.2%

3:07 PM EST

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To: Stock Farmer who wrote (53662)	6/15/2001 9:32:33 AM
From: GVTucker	Read Replies (1) of 77400

John, RE: If NT had used "pooling", then the writedowns for inventory and restructuring would merely be of Cisco-like proportions. Nah. If you compare the net income of both companies (not those silly pro forma numbers but the real net income numbers) over the years when they were both acquisitive and then compare the respective write offs, this NT write off is truly historic. Whereas CSCO's write off was "merely" a year or so of net income, NT is writing off almost half of their book value. NT now has, going all the way back to their IPO in 1983, never made a penny in their existence as a public corporation.

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