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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Keith A Walker who wrote (21619)	2/2/1999 4:59:00 PM
From: yard_man	Respond to of 77397

Their earnings would be halved but for excluding this writeoff -- anybody know specifically what it is for? Heck it is almost equal to the total acquisition price of some outfit. $0.36 my eye. I'm going to go check last quarter's revenues ... >>Net sales for the second quarter were $2.83 billion, compared with $2.02 billion for the same period last year, an increase of 40%. Pro forma net income, which excludes the write-off of purchased in-process R&D discussed below, was $606 million or $0.36 per share, compared with net income of $457 million or $0.29 per share for the second quarter of 1998, increases of 33% and 24% respectively. During the second quarter of fiscal 1999, Cisco acquired Summa Four, Inc., Clarity Wireless Corporation, Selsius Systems, Inc., and PipeLinks, Inc. for a combined purchase price of approximately $537 million and took a one-time charge of $349 million or $0.19 per share on an after-tax basis as a write-off of in-process R&D. Actual net income for the second quarter, including the above-mentioned write-off of purchased in-process R&D, was $288 million or $0.17 per share. <<