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Technology Stocks : Nokia (NOK)
NOK 6.730-0.7%Nov 14 9:30 AM EST
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To: Nils Mork-Ulnes who started this subject7/13/2001 5:04:35 AM
From: Wyätt Gwyön   of 34857
 
interactive.wsj.com
It's impossible to know precisely how much money Qualcomm has made since the mid-1990s without a formal earnings restatement, which Qualcomm says is unnecessary under GAAP. But since the beginning of 1996, on a pro forma basis excluding unusual charges, Qualcomm reported pretax income of $2.02 billion, according to Multex. Including all unusual charges, its pretax income was $1.44 billion over the same period, making it nearly 30% less profitable.

Lynn Turner, the SEC's chief accountant, says the recent spate of write-offs of vendor-financed receivables raises troubling questions, though he declines to comment on specific companies. "I get very concerned when the accounting rules turn out an answer that just doesn't reflect the economics," Mr. Turner says.
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