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As Sherlund wrote last week: In our conversations with Mr Thompson, he has not appeared receptive to taking steps to enhance shareholder value through accelerated share repurchase, cost cutting and better focusing the business.
But if, say, 2percentt of those 813,000 Tacomas were bought back and the repurchase cost was only about $5,800 (for a basic 1995 two-wheel drive Tacoma with the 4-cylinder engine and 140,000 miles) that would amount to about $94 million.
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Table 2 shows the cost and outcomes of various treatment stockpiles; each shelf-like cycle of the stockpile (which is 4 years, after which the drug has to be repurchased) costs SGD$13.1 million for 10% of the population.
For the fiscal year's first quarter, ended in May, net income dropped 79% to $4.2 million on $446 million in sales-but would have been up 25% if not for debt repurchase costs.
For the fis-cal year's first quarter, ended in May, net income dropped 79% to $4.2 million on $446 million in sales but would have been up 25% if not for debt repurchase costs.
Mentor did not note that in 2001 its share repurchases cost $24.47 a share, 21percentt more than the $20.20 exercise price of the options it issued.
Meanwhile the company had high debt-repurchase costs and took restructuring charges, such as for a plant closing.
Ober bought 1 million shares last year because he likes the company's 10% share repurchase and $240 million cost-cutting program.
Any measures that would reduce the value of the existing debt, making it cheaper to repurchase, would increase the cost of issuing new debt.
As part of the broad makeover, the company also said it would cut costs and repurchase $1 billion of shares this year.
Collins & Aikman, which is based in Troy, said it lost $20.3 million, or 29 cents a share, because of costs to repurchase preferred stock.
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