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

To: kvkkc1 who wrote (55153)	9/9/2001 10:31:42 AM
From: Stock Farmer	Read Replies (2) \| Respond to of 77400

What point are you trying to get at? If you want to trade snarkograms I'd have replied "love is blind". Or something equally meaningless. But that is not helpful. I can only think you are convinced there's some missing adjustment for stock splits in my share price math. Let's try it again then. July '95 earnings (July 10K) = 1.54/share. July '95 stock price (Yahoo) = 55.75 post earnings, = 56 July '95 PE = 36.36 Stock split factor: 18 (Yahoo) Split adjusted price = 3.1146 / share, split adj Split adjusted earnings = $0.0844 / share, split adj PE (today-share) = 36.36 The rest flows from there. Earnings today (PR) $0.43 / share (pro-forma) At PE 36.36 = $15.63 Not really fair to compare GAAP PE with pro-forma PE, so let's be more fair. Earnings today (PR) ($0.14) / today-share (GAAP) Unique one-time adjustments in 2001: Restructuring charge 1,170 Inventory charge 2,062 Tax effect -1,062 Total 2,170 $2,170 / Shares outstanding (PR) 7,196 = $0.30 pro-forma adjustments $0.30 + $(0.14) = $0.16 Comparable EPS of $0.16 / share @ PE 36.36 = $5.82 share fair price If there is an error, then it is not obvious to me. My conclusions flow from these numbers, so if I'm wrong in any of these figures then it will follow. John