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To: LLCF who wrote (155626)	3/13/2002 10:33:56 AM
From: reaper	Respond to of 436258

That makes sense. Don't know if they have an active stock repurchase program, but they do have $1.9 billion in cash (partially offset by a $600mm convert) so at prices this low (unless they think they're going out of business) they ought to be buying back some of their stock. This is of course coming to you from a Comverse long (as of last night; $12.90 <g>) Edit: no mention in any public filings of a repurchase program. and they had not repurchased any shares in the current fiscal year as of 31 October. Their converts convert at $116.375 per share. Guess they don't have to worry about those becoming stock and diluting shareholers. And they only pay 1.5% for the money. Wow. Cheers