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

To: Michael Gaudet who wrote (25659)	5/13/1999 11:33:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 77400

Sure. 9 months operating income was $2,469. 9 months ago equity (including minority interest) was $7,130. There was no LT debt. Therefore, for the period the ROIC was 2469/7130 = 38%. Annualizing it yields a 48.7% ROIC. Notice that this number is different than the Yahoo! numbers. This is common because computer generated numbers usually don't eliminate non-operating items, and often don't use the proper base period. Notice that I used the equity numbers from 9 months ago in the denominator. TTFN, CTC