Novellus Message Board - Msg: 8178524

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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Dave Chanoux who wrote (2002)	3/5/1999 9:18:00 PM
From: brushwud	Read Replies (1) of 3813

> Is this the new math? No, it's classical guesstimation. The point is, the old shares were earning (for the past twelve months or more) less than the new shares will earn in interest. So dilution is not an issue. And of course I know all shares are the same--were 35 million, are 39 million. If you had some useful criticism, you might have pointed out that the interest on the quarter-gigabuck infusion is subject to corporate income tax, so it might not amount to $10 million, but perhaps 2/3 of that amount. It's still accretive. Yes, you're correct that the original shelf registration was filed last May 13.

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