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Technology Stocks : Credence (CMOS): Anyone out there -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (450)	11/28/2000 6:27:17 PM
From: Robert	Read Replies (1) \| Respond to of 497

More importantly, we will wait with baited breath for the analyst recommendations. I don't think they saw this coming. Greenspan is going to drive the economy and sentiment into the toilet if he doesn't ease up on his tightening bias. It looks like a recession is not far away. Isn't the fed supposed to be ahead of the curve. And then there is the presidential election. It looks like Santa and the Elves may stay home this Xmas. Maybe I'll reduce my debt and not continue to average down. good luck Robert

To: t2 who wrote (450)	11/28/2000 6:44:18 PM
From: ELH1006	Read Replies (3) \| Respond to of 497

T2, another viewpoint: Working capital less all debt equates to $378 million or $6.82 per share. Subtract $6.82 from today's closing price of $18.50 and you arrive at $11.68 per share for the business aspect. I have ignored the $137 million in long term investments which most likely decreases this amount further. Starting with the pretax income amount of $77.7 million, I deducted interest and other income of $4.7 million and added back the amortization charge of $4.9 million and the in-process charge of $3.5 million to arrive at $81.4 million. Apply an income tax provision of 35.25 % and you get net income of $52.7 million for the quarter on the business. Annualize to $210.8 million or $3.80 per share. This equates to a PE of 3.07. Assuming the long-term investments is a cash equivalent and the PE becomes 2.37. My god, even if the annualized net is $3.00 per share, you still get a PE of 3.9.