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Technology Stocks : Lucent Technologies (LU)

LU 2.415

+1.9%

Nov 21 9:30 AM EST

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To: David Hansen who wrote (21490)	1/22/2004 2:23:20 AM
From: Elroy	Read Replies (2) of 21876

OK, so instead of losing 6 cents over the next three quarters they are going to beat EPS forecasts every quarter of fiscal 2004, and actually earn 6 cents for the remainder of the fiscal year! Maybe. This is attractive to? A company that makes 2 cents per quarter?? For this you pay 3x trailing sales, instead of paying 2x trailing sales for DELL? Makes no sense to me, but good luck. Did you notice shares outstanding went from ~4 billion in September '03 to 5 billion in December '03? In other words, you just got 25% dilution. This is probably due to the fact that when the company expects to be profitable for the year they have to count outstanding out of the money options in the share count, but when they expect to lose money they don't have to count them (I think). I wonder why Lucent didn't put that major shareholder related issue at the top of their press release along with the revenue and EPS numbers. Elroy

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