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Technology Stocks : Echelon Corporation (ELON)
ELON 21.88+10.1%Oct 6 5:00 PM EST
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To: Ted The Technician who wrote (2997)7/14/2002 2:50:47 PM
From: pranadude  Read Replies (2) of 3076
 
Ted,

Good point, but perhaps your numbers need to be adjusted. You can talk to Red about this as I am not the technician. I can tell you that Red has had a remarkable ability to distill information and accurately estimate earnings for ELON time and time again.

ragingbull.lycos.com
>>>By: bigredanalyst $$$$$
14 Jul 2002, 01:30 PM EDT Msg. 73330 of 73332
(This msg. is a reply to 73329 by elon_judy.)
Judy;

Even if this were to pass, I don't think the earnings impact to Echelon would be that significant.

In 2001 the top 5 executives were granted 450,000 shares in options (200,000 to Oshman, 50,000 to Yormark, Stanfield and two VPs). In the proxy the SEC requires that the options are valued assuming two different appreciation rates for a company's stock, 5% and 10%.

For the five Echelon executives the assumed value of the options are either $4.1M (5% appreciation) or $10.3M (10% appreciation).

If the proposal to expense options is passed I assume they would specify the same methodology for valuing them. And since these options have a five-year vesting schedule I assume the value is depreciated over five years.

Using those assumptions the annual EPS impact for Echelon would be less than $.02 (using the 5% assumed appreciation rate) or $.04 (using the 10% assumed rate).

Plus all comparable companies would also be reporting lower EPS so ELON's relative attractiveness would be unchanged.

red
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