WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 181.08

+3.5%

Dec 19 9:30 AM EST

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To: Sam who wrote (26314)	7/7/2004 6:58:58 AM
From: Dave	Read Replies (2) of 60323

That is completely incorrect. When I refer to "Book Value", I specifically tell those to analyze "Shareholders' Equity". In fact, I recall specifically mentioning to measure the differences between Paid In Capital (PIC) and Retained Earnings (RE). Regardless of what SNDK does with the cash does not change how book value increased. The primary driver causing book value to increase was the secondary. Moreover, their investment in the JV is marginally profitable since it generated only 647k in the first quarter. I expect as additional competition enters, this JV will become less profitable. I suggest that you pull out some Accounting and Finance textbooks and brush up on those skills.

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