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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.770.0%Dec 24 9:30 AM EST

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To: Art Bechhoefer who wrote (108052)11/6/2001 6:20:31 PM
From: carranza2  Read Replies (1) of 152472
 
Agreed, Art. Very astute.

However, I'm extremely upset that the license fee amortization change was done this quarter after Thornley said in the last cc that the Nokia multi-million fee would be booked in its entirety this quarter, and that the Nokia fee had already made the licensing division's quarter. This was not true, and while the accounting change took place during this quarter, there was no announcement of the change. As a result, a lot of investors and analysts were left with the impression that really impressive licensing fees would show up this quarter.

Management should have announced the change. I feel mislead on this point.

Management should have also emphasized the effect of the other accounting change much more strenously. If I read the PR correctly, it was in fact announced in July. It's significance and impact should have been made a lot more obvious.
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