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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Mike Buckley who wrote (5015)	8/21/1999 12:30:00 PM
From: Brian K Crawford	Read Replies (1) of 54805

Mike, Very nice job on the rebuttal. If I may add to it a bit, on the subject of margins: The original poster said: And QCOM's margins for the past 2 years are also very tepid: 3.9% and 3.8%. No improvement at all there. QCOM's pro forma results, which excluded infrastucture revenues and expenses and non-recurring charges were $.86 per share. Pro forma results included the following line items: Revenues........................$966 million Net Income after taxes..........$154 million Net margin after taxes..........15.9% Not too shabby! Brian

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