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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Greg Jung who wrote (46844)	5/13/1998 9:26:00 PM
From: gbh	Read Replies (2) \| Respond to of 61433

Greg, here is some info taken directly from the annual report. from page 28 1997 - # shares in per share calc. (diluted) 189,129,000, net (.66) 1996 - # shares in per share calc. (diluted) 196,246,000, net .94 1995 - # shares in per share calc. (diluted) 175,216,000 ,net .30 then on page 29 share balance 12/31/95 ---------171,858,000 effect of pooling -------------- 3,129,000 Exer. of warrants, Netstar------ 399,000 Issue of new stock, employee stock option, and purchase plans-------------- 6,695,000 Issuance of common stock-------- 444,000 share balance 12/31/96 ---------182,525,000 effect of pooling -------------- 1,350,000 Purchase of Sahara-------------- 2,386,000 Issue of new stock, employee stock option, and purchase plans-------------- 4,955,000 share balance 12/31/97 ---------191,216,000 Now I'm not sure why the share numbers on page 28 and 29 are different (maybe an accountant can help us out here), but one thing seems clear. Absent the acquisitions, share growth from employee option and stock purchase plans is anything but linear. And 10% or 7.5% or 5% may be a little high. Maybe 2.5 or 3% is more realistic. Other items of interest, on page 36, they do talk about the re-pricing of options, obviously due to the share price falling, and on page 37, Outstanding Options exercisable at 12/31/97 --- 28,607,600 at aver. price of 23.47 Options available for grant at 12/31/97 --- 4,136,658 I not sure if either of the above items is included in any of the share numbers above. So what's my point? I don't know. But these numbers do look a little different than yours. Gary