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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (34308)	4/23/2000 2:39:00 PM
From: Paul Reuben	Respond to of 77400

To: Thomas M. who wrote (34308)	4/24/2000 11:06:00 AM
From: The Phoenix	Read Replies (1) \| Respond to of 77400

Thomas, Ackerman has to do a bit more work I think. First his data is WRONG!!! Very WRONG Q399 Net sales was 3.15B NOT 2.84B Q399 Operating expenses was $1.17B not .827B Q499 Net sales was $3.55B not $4.35B Q499 Opterating expenses was.. can't find it right now.. The point is his data is completly WRONG. Second he makes a point about stock options. He makes a big assumption about employee's getting $750K in option which I think is a tad high... but even if it was right he states that this results in a net loss per employee? Options vest over 4 years...employees during that time will generate (using his 600K nunber) 2.4M in sales for a net of 1.75M over 4 years or $437K/year... a pretty darn good output per employee... and that's using his numbers which I can guarantee you are wrong. Regarding bandwidth... yeah, everyone said they have enough 20 years ago, 10 years ago, and now he's saying it now. Of course he forgets about business outside the US and services business that is separate from bandwidth... delivery of QoS, security, and provisioning systems on top of these networks. Where do these uninformed people come from? This guy should have done a lot more work before posting this article. Apparently a stream of conciousness effort. OG