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

To: GVTucker who wrote (50386)	3/26/2001 3:25:42 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 77400

GV, I guess the one thing I keep going back to is that CSCO's financial picture and their financial statements are a lot clearer than a whole host of other companies that essentially are intentionally trying to deceive investors. I would tend to agree with you. However, that does not mean it is easy for people to figure out Cisco's financials--as a simple example, note the trouble one must go to to figure out how much the share count increased year over year. Let me know if you don't think the following is a difficult way to figure out this percentage increase. Message 14820742 To:Eric Jhonsa who wrote (34892) From: Mucho Maas Wednesday, Nov 15, 2000 11:37 PM View Replies (2) \| Respond to of 38682 "According to the earnings report (http://www.cisco.com/warp/public/146/pressroom/2000/nov00/co...), the number of shares outstanding on a diluted basis increased by roughly 4% from the year-ago period." So one would think (the PR you cite shows 7.58BB in 01 and 7.288BB in 00). But really the increase was over 8%. The reason you thought it was just 4% was that you just looked at the 1Q01 press release and took the 1Q00 share count from there. But what you need to do is go back to the 1Q00 press release, where the 1Q00 share count is listed as 288 million less than the same count listing in the 1Q01 press release. Are you confused yet? They restated the 1Q00 share count (in the 1Q01 PR) to include the 288 million extra shares due to acquisitions. Net effect: dilluted share count increased from 7BB to 7.58BB, or 8.285%. Eric, I'm kinda sick and can't say much more now, but I wanted to point out this one issue to you. You were careful enough to look at their 01 PR, but your calculation ended up being off by 100%+. I don't think you're the only one who made this mistake. Frankly, the statements are very complicated, and to figure out much you would need to do a lot of comparing between years. I learned about the above issue in an article at grantsinvestor.com grantsinvestor.com. They go into pretty extensive detail about a lot of the issues you bring up, and suffice it to say that the numbers they come up with are a bit different from yours. Sorry I do not feel up to writing it all down here.