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To: Daniel Schuh who wrote (18913)5/11/1998 3:43:00 PM
From: Reginald Middleton  Read Replies (3) | Respond to of 24154
 
<For those who didn't follow Robert's second link, you'll be happy to know Microsoft rules again. Amazingly, Microsoft profits for 1996 go from $2.825 billion to -$10.175 billion when stock option costs are
accounted for (wrongly, I'm sure we'll be told).>

Like you know what you are talking about. If you add back options expense, don't froget to add back deferred revenues, pre-paid expenses, markiung real estate to market, including LIFO reserves, and deferred taxes and warranty reserves. Now, after all of that, where do the profits stand?