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Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Robert Douglas who wrote (1256)	12/7/1999 10:40:00 AM
From: Robert Douglas	Read Replies (1) \| Respond to of 1989

Number of shares outstanding? At the end of the first quarter Seagate had 218.6 million shares outstanding (basic) and 224.2 million fully diluted. I notice that several sources, including Yahoo!, now have Seagate listed at 208.3 million. (no specification as to basic or diluted) If this number is accurate, then Seagate has been busy buying shares back since the end of last quarter. I am really pleased with this strategy.

To: Robert Douglas who wrote (1256)	12/7/1999 11:40:00 AM
From: Sam	Respond to of 1989

Rob, From BS: <<Moreover, we feel that compared with other deals in the space like Dell's acquisition of Convergenet, the X10tech acquisition came in at a very favorable price for Seagate.>> Well, perhaps. I think I read somewhat that Xiotech had about $10 million revenue last year, allegedly growing at 70%. Seagate paid, what, $360 million for them? QNTM paid $85 million for Meridian, which had a little more than $4 million in their last quarter as an independent company. At these revenue bases, of course, growth rates don't mean much, they had better be high. And of course, these companies aim at different markets, with Meridian aiming at the lower end, and requiring mass sales. But while admittedly I don't know much about either one of them, it doesn't seem like Seagate paid a bargain basement price for XIO. Remember Quinta? They paid over $300 million for them. Well, the Lynch theory really does work, home runs like Veritas can make up for a lot of strikeouts.