Hi Kemble,
Re: How's life in the big city?
We traded in the big city (at least partially) for a small town on the north shore of long island, but work, play and culture brings us back to the city often.
Don;t know if you saw this:
ROUND ROCK, Texas--(BUSINESS WIRE)--March 3, 2005--Dell (NASDAQ:DELL)
Dell's board of directors today authorized an additional $10 billion for stock
repurchase, and raised the number of shares authorized for buyback by 250
million shares.
Since 1996, Dell has spent more than $18 billion to repurchase 1.2 billion
shares of common stock. So far in its current fiscal first-quarter 2006, Dell
has spent $1.3 billion for share repurchase. The company previously said it
would spend at least $900 million to buy back shares in the current quarter.
In addition to offsetting the effect of stock-based employee compensation
plans, stock repurchase has reduced weighted average shares outstanding by 20
percent during the past nine years, increasing Dell's earnings per share.
"Our business is exceptionally efficient, and our cash flow from operations is
consistently outstanding," said James M. Schneider, Dell's chief financial
officer. "Share repurchase remains a priority use of our cash, even as we
continue to internally fund the fastest, most profitable growth in our
industry."
Size and timing of stock purchases under the program will continue to be based
on factors including price, use of stock in employee compensation and market
conditions. |
