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

To: bambs who wrote (48692)	2/9/2001 2:45:17 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 77400

Cisco "Dumps Monterey" lightreading.com

To: bambs who wrote (48692)	2/9/2001 2:48:22 PM
From: Tulvio Durand	Read Replies (3) \| Respond to of 77400

11 cents is the actual earnings ....18 cents is the proforma --- does not address issue I raised. The difference 7c must be good for something. Tulvio

To: bambs who wrote (48692)	2/10/2001 1:05:45 AM
From: Tulvio Durand	Read Replies (1) \| Respond to of 77400

Bambs, I think you got it wrong. GVT provides the following excerpt of Cisco's report, Per Cisco: "Pro forma net income, which excludes the effects of acquisition charges, payroll tax on stock option exercises, and net gains realized on minority investments, was $1.33 billion or $0.18 per share for the second quarter of fiscal 2001." ie., the 18¢ excludes investments gains and other one time events. So 18¢ should be used in calculating PE, not 11¢ as you suggest. [Moreover, I would argue that investment gains are not one time events and should be added to income when figuring PE]. Tulvio