Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.370

-2.5%

Nov 20 3:59 PM EST

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To: X Y Zebra who wrote (5212)	12/14/1998 9:16:00 PM
From: John W. Linder	Read Replies (1) of 21876

Best I can figure is this: The 135 PE comes from Fiscal 98 (ending 9/30/98) earnings of 0.75, which I obtained from the following URL. I believe that this counts all the one time charges for acquisitions, so actual earnings from operations was higher, closer to 1.60 although I didn't look for it further. So based on 1.60 or so, trailing P/E is closer to 60 than 135. dailystocks.net Now, estimates for Fiscal 99 are in the 2.10 range, so forward P/E is in the range of 45, still high but nothing near the 135. One has to be very careful using automatically-generated P/E's found on websites. I have seen ones like the URL above that use numbers after charges, and I have also seen places take current quarter and multiply by 4 for an annual. We all should know that for LU this doesn't work, since the 4 quarters aren't equal in LU's case. Someone please set me straight if I am wrong here. (I've been wrong a few times before, at least that's what my wife reminds me of once in a while!! :-) Comments? Thanks.

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