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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Art Bechhoefer who wrote (26316)	7/7/2004 9:27:16 AM
From: Dave	Respond to of 60323

I've already gone over this. Again, the main cause of the increase in SanDisk's book value per share was due to the secondary. If you do not believe me, please go to the SEC's website and look at the 10-Qs for Q3 2003 and Q1 2004 and 10-K for FY 2003. Yes, book value has increased due to increases in Retained Earnings; however, as I said before, the primary driver of book value growth was the secondary offering and not Retained Earnings. When I responded to your comment, you said that SNDK was an "good" company since it has a growing book value per share. I simply responded that the driver behind the growing book value per share was the secondary offering. You cannot look at things in absolute terms, i.e. growing book value per share. One must determine the causes for growth/decline before arriving at a conclusion.