Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Charlie Smith who wrote (1203)	3/17/1998 12:48:00 PM
From: Mark	Respond to of 5944

How do you get $15mm in after tax earnings for one quarter from a cash balance of $730mm? Charlie Ooops..... It was quite late last night when I wrote this ! Net income for the last quarter was $ 27,075. The interest number I included was the 9 month gross figure - $ 15,659. It was a mistake ! Comparing like with like, gross interest for the quarter was $ 6,349, and would have made a net contribution to the last quarter's numbers of about $4,500. It therefore increased earnings by about 20%. I'd love to find a way to generate 11.5% net interest on "cash"....... Apologies ! Mark Income from operations 44,578 Interest income, net of interest expense 6,349 -------- Income before income taxes and cumulative effect of change in accounting principle 50,927 Provision for income taxes 14,852 -------- Income before cumulative effect of change in accounting principle 36,075 Cumulative effect of change in accounting principle 9,000 -------- Net income $ 27,075 ========