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Technology Stocks : Presstek -- Stock of the Decade?? -- Ignore unavailable to you. Want to Upgrade?

To: Robert C. Petersen who wrote (8022)	1/28/1998 8:30:00 AM
From: GVTucker	Read Replies (1) \| Respond to of 11098

As we get closer to the earnings report for the fourth quarter and fiscal year 1997, it is important to note the new accouting policy of reporting both basic and diluted earnings. Last year, if Presstek would have reported earnings assuming full dilution of options, earnings would have been 0.01 rather than 0.22 (Both numbers adjust for the recent split.) That's right--earnings assuming full dilution would have been one penny. Granted, the average exercise price of options last year was around $37, so those options have a much lower probability of being exercised now, and dilution would be less given the current stock price. Along those lines, it will be interesting to see if management's options are repriced taking the lower stock price into account.