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Technology Stocks : Dell Technologies Inc.
DELL 133.78-0.1%Nov 14 9:30 AM EST

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To: Patrick E.McDaniel who wrote (29885)2/16/1998 9:22:00 PM
From: jim kelley  Read Replies (1) of 176387
 
I think no boo boo.

Here is why.

From the last DELL 10-K:

Net sales......................................... $2,412 $2,019 $1,690 $1,638
Gross margin...................................... $ 524 $ 450 $ 373 $ 319
Income before extraordinary loss.................. $ 188 $ 149 $ 112 $ 82
Net income........................................ $ 188 $ 145 $ 103 $ 82
Income before extraordinary loss per common
share(a)(b):
Primary...................................... $ 1.01 $ .78 $ .58 $ .42
Fully diluted................................ $ 1.00 $ .78 $ .57 $ .42
Weighted average shares outstanding(a):
Primary...................................... 185.8 191.0 194.7 194.8
Fully diluted................................ 187.0 192.0 196.2 196.8
Stock sales prices per share(a):
High............................................ $ 72 3/8 $ 44 3/8 $ 28 5/8 $ 23 3/8
Low............................................. $ 37 13/16 $ 26 1/16 $ 20 3/16 $ 13 ¬

This shows that there is very little dilution in DELL stock to report.

From the last 10-Q:
Q3 Q2
Weighted average shares outstanding............... 360 364

From the last quarter we would expect the share outstanding to come in at approximately 356M.

I computed it another way following DELLs method and this is to add about 30 to 31M shares to the actual shares outstanding of 326.434M.

Regards,

Jim Kelley
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