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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Cynic 2005 who wrote (10330)11/4/1998 10:03:00 PM
From: Greg Jung  Read Replies (2) of 86076
 
They haven't released a simple table for sickso.
In the Reuter's release it says:

In the three months ended Oct. 24, profit before a charge climbed to $559 million, or 34 cents a diluted share, from $415.7 million, or 26 cents, in the corresponding period a year ago. Revenue rose 39 percent to $2.59 billion from $1.87 billion.

However later in the same article it summarizes:

Including a first-quarter charge of $41 million, or 3 cents a share, Cisco had net income of $518 million, or 31 cents a share. In the year-ago quarter, a charge of $127.2 million and a gain of $5.4 million resulted in net income of $337 million, or 21
cents a share. 

         Revs      OpEarn  
Oct 98   259x       559        .34    
Oct 97   187x      459/416     .29/26

If operating earnings were $459 in 10/97 then increase
in Op. Earnings is .34/.29 = 17% per share or 21% overall.
If the number is 416 then 34% overall (30% per share).

Dilution rate remains steady at 4%.

Margin is down nobody is begging for new equipment, they
can always shift sales up to meet the earnings margin and "try harder
next month" but margins have been the holy grail. They must be under genuine pressure as the big hogs are less and they have to compete in switches and cheap stuff with 3com which will settle for 7-12% margins.

I think the analysts are glossing over their initial reactions.
Lets see... stock up 85%, earnings(sic) up 30% after a year.


Greg
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