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Technology Stocks : CPCI - great earning , BARRON's suggest
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To: csm who wrote (419)11/6/1997 3:55:00 PM
From: Aaron Cooperband  Read Replies (1) of 586
 
Stuart -

Re: "there may be some remaining dilution due to last year's stock offering"

This appears to be the case. The weighted average shares outstanding for the quarter are 5457 and 5404 in 1997 and 1996 respectively - essentially an unchanged number of shares outstanding YOY. In the fiscal year, however, the numbers are 5396 and 4326 respecively.

The 4326 number includes info from as early as October 1, 1995. Since the secondary offering was in June of 1996, this must be skewing the weighted average shares outstanding number.

CPCI's secondary offering changed their financial structure dramatically. When calculating financial ratios etc. its important to take these effects into account and not simply do calculations blindly.

Aaron
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