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Technology Stocks : The New Qualcomm - a S&P500 company -- Ignore unavailable to you. Want to Upgrade?

To: quidditch who wrote (6678)	2/20/2000 4:08:00 PM
From: DOUG H	Respond to of 13582

Brian, wouldn't you usually see depreciation and amortization (to the extent that those are relevant line items in the business being analyzed) above the operating margin line? They are always a top line expense on an "Income Tax Basis". For the purpose of analyzing similar business I suppose EBITA is useful. I'm not a big fan a EBITA because it treats D&A the same as interest. Operations must meet interest payments, not so with D&A. Some lenders in my business will pull out officers salary to compute debt ratios.