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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: DJBEINO who wrote (24495)11/25/1998 1:31:00 PM
From: dwight vickers  Read Replies (1) of 42771
 
"On the balance sheet, cash and short-term investments were $1.007 billion at the end of fiscal 1998, compared with $1.033 billion at the end of fiscal 1997. The major source of cash for the year was from operations which contributed $294 million. The primary use of cash for the year was for share repurchase. On June 5, 1998, Novell's board of directors authorized the company to repurchase up to 10 percent, or approximately 35 million shares, of Novell common stock over twelve months. To date, the company spent $245 million to purchase and retire 21 million shares of common stock."

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If this is the case, why do they report (WSJ) 354,105,000 shares 10-31-98 vs. 353,337,000 shares 10-31-97???

Ummmmm, that's an increase.

Is this one of the deals where they are buying back shares to (not even) keep up with the number of shares being given away in option grants????

Hopefully not.

Dwight
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