Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 170.58

-0.2%

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To: RocketMan who wrote (65529)	1/31/2000 5:15:00 PM
From: William Hunt	Read Replies (1) of 152472

THREAD ---Dow Jones Newswires -- January 31, 2000 Qualcomm Sees $50M 2Q Charge For Sale Of Wireless Ops WASHINGTON -- Qualcomm Inc. (QCOM) expects to take a $50 million charge in the second quarter of its fiscal 2000 in connection with the sale of its terrestrial-based wireless phone business. The information was disclosed in the company's quarterly report filed Friday with the Securities and Exchange Commission. The company's second quarter ends in March. As reported, on Dec. 22 Qualcomm agreed to sell its wireless Code Division Multiple Access to Kyoto, Japan-based Kyocera Corp. (KYO) for an undisclosed sum. According to the filing, Qualcomm recorded $27 million in charges in its fiscal first quarter to reflect the estimated difference between the carrying value of the net assets and the consideration to be received from Kyocera, less costs to sell. The additional charges to be recorded in the second quarter will primarily relate to employee termination costs and Kyocera's right under the agreement to exclude certain properties and equipment. As reported, the company said that the charges are expected to be more than offset by gains on the sale of investments. Based in San Diego, Qualcomm develops digital wireless communications systems and Internet products. BEST WISHES BILL

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