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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 136.33-8.4%3:59 PM EST
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To: adam hefian who wrote (330)12/15/1996 6:24:00 AM
From: STAN SEGAL   of 152472
 
Adam,Frank Byers point is well taken. Sprint awarded its contract to two separate bidders, by cities. One set of cities was awarded to Lucent, and there apparantly have been no problems there; the other set was awarded to Nortel where software problems have resulted in previously announced delays. Qualcomm is a partner with Nortel in the manufacturing of the Sprint infrasrutcture (unlike Lucent where there are only roylaties), and the Qualcomm contract, as well as the Nortel contract, carries with it massive penalties if there are delays. It is unclear at this point if the Nortel problems would invoke the Qualcomm penalties. Even if they don't, the Sprint contract calls for no payments to be made until the system is operational. This alone affects Qualcomm's stream of income.I don't mean to speak for Frank, but I'm assuming these are the items to which he was referring. The conference call will surely touch on these points, and lets hope there is good news on the Nortel cities.
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