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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (17893)	8/10/2004 6:52:34 PM
From: Nancy	Read Replies (1) \| Respond to of 95640

they used almost all their cash flow for the quarter to purchase more than 7% outstanding stocks at about $22.36 a clip, to maintain the EPS at this 0.21 level (to meet the guidance). So, just take that 0.21 divided by 1.07 you get 0.1963 per share should the outstanding not being reduced. Simple math. and that would be a 2 cents miss. the shareholders would be better off to get the difference as a dividend. Nope, Chambers has repeatedly said CSCO will not pay dividend. There was an analyst (yeah, the spint master) said on CNBC last night on K&C show that she thinks Chambers wants to hoard the cash when stock option expensing becomes inevitable, then CSCO's earning will be reduced drastically, then Chambers can use the cash hoard to buy back shares or a cash dividend a la MSFT to put a floor on the stock price.