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

QCOM 177.78

-2.2%

3:59 PM EST

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To: cfoe who wrote (6854)	2/4/2001 9:11:45 PM
From: slacker711	Read Replies (2) of 197145

Now in Q1-01 total QTL revenues were $223.5 million. The difference between this total and the $209 million mentioned above is $14 million. Does anyone know what this is? Also, what does "3rd party licensing" mean? Aren't all license fees and royalties from 3rd parties? I believe that the $14m represents the amount that the Qualcomm chipset division would pay to QTL if it was a third party. I think Qualcomm began using this convention a couple of quarters ago to give a better idea of exactly how the individual division were doing in terms of gross margin. Of course, if we understand Spinco correctly, this royalty will never be collected.... Therefore, QCOM must get their infra royalties on a much delayed basis. Sort of like an annuity. So the question is how to forecast this number. In fact, it could be the reason for some of the increase in QTL revenues we are seeing. Unfortunately, it seems like every time Q has had a chance to shed some light on how big infra royalties might become with the implementation of 3G, they have chosen to pass on the question. They have stuck with the party line that W-CDMA wont see significant revenue until 2003. Hopefully, the royalty out of Japan that was reported during the last CC will be the first of many....eventually they will have to give the analysts a little bit of information on how to model the infrastructure royalties. Slacker

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