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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: uu who wrote (19818)	3/29/2001 8:03:42 AM
From: Wyätt Gwyön	Respond to of 24042

That book value figure includes a huge amount of intangible goodwill from acquisitions. If you want a book value figure based on tangibles, or plant and equipment, as well as investments, cash, etc., you need to look at the breakdown. biz.yahoo.com December 30, June 30, 2000 2000 ----------- ----------- (unaudited) ASSETS Current assets: Cash and cash equivalents $ 430.1 $ 319.0 Short-term investments 700.6 795.3 Accounts receivable, less allowance for doubtful accounts of $10.5 at December 30, 2000 and $8.2 at June 30, 2000 631.9 381.6 Inventories 493.9 375.4 Deferred income taxes 70.3 62.4 Other current assets 70.2 39.2 ----------- ----------- Total current assets 2,397.0 1,972.9 Property, plant and equipment, net 930.7 670.7 Deferred income taxes 680.8 642.7 Intangible assets, including goodwill, net 20,018.3 22,337.8 Long term investments 893.6 760.9 Other assets 24.8 4.1 ----------- ----------- Total assets $ 24,945.2 $ 26,389.1 =========== ===========

To: uu who wrote (19818)	3/29/2001 8:07:08 AM
From: t2	Read Replies (1) \| Respond to of 24042

JDSU has a book value of $23.96, and it also has $1.13 Billion in cash with absolutely no debt That seems about right. The cash can probably be confirmed from the last earnings release and I would expect it to be in that range or higher. Book value is another matter. I believe that since JDSU is a company that did so many deals in the past 2 to 3 years (using the purchase method), the book value becomes high. I guess they were valuating their acquisitions using "new economy" valuations at the time of the deals. JDSU's books will only reflect "book value" which is really the historic costs a the time of deal announcements...and those costs were a lot higher back then. To me what matters is the cash levels of over 1 billion. The book value number is useless at this point (imho). Edit---as Mucho Mass points out, the intangible assets (basically goodwill---and lots of it) resulting from the big "purchase" deals really skews the numbers.