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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

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From: JohnG	3/7/2005 11:28:04 AM
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03/07/2005 09:04:44 NEW YORK (Reuters) - Wireless technology company Qualcomm Inc. <QCOM.O> on Monday said its fiscal second-quarter revenue would fall short of Wall Street views, despite a modest increase in its outlook for profit and for chip shipments. Qualcomm, developer of the CDMA mobile technology used in mobile phones, cut its revenue outlook for the second quarter ending March 27 to a range of $1.35 billion to $1.40 billion, down from its previous forecast of $1.35 billion to $1.45 billion. The estimates exclude revenue from its investment arm. Analysts said the outlook highlighted concerns that Qualcomm may be reaping less licensing revenue. Qualcomm supplies wireless chips and sells technology licenses to makers of equipment based on its CDMA and W-CDMA technology standards. "All in all it's a mild deviation but something that could be quite upsetting for investors believing that Qualcomm's licensing fees will be as high as in the past," said Dresdner Kleinwort Wasserstein analyst Per Lindberg. San Diego-based Qualcomm raised its outlook for second-quarter profit to between 26 cents and 28 cents a share, from a previous forecast of 25 cents to 27 cents. It raised its estimate for shipments of MSM phone chips to 36 million to 37 million, from its former view of 35 million to 37 million. Analysts, on average, have expected a profit of 27 cents a share on revenue of $1.41 billion, according to Reuters Estimates. Shares of San Diego-based Qualcomm fell 60 cents, or about 1.7 percent, to $34.90 in premarket trade on Inet, down from a close on Friday of $35.50 on Nasdaq.

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