Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

3:59 PM EST

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To: Mark Fleming who wrote (112553)	2/8/2002 12:38:26 PM
From: slacker711	Read Replies (1) of 152472

Under this program, QCOM recorded $11 million in revenue during fiscal 2001 based on such equity consideration. In addition, the Company accepted such equity in satisfaction of $9 million of receivables which the Company removed from its balance sheet. The number of licensees reported to be participating in this program rose from 6 to 7 during the September quarter. Wow....they arent even talking about something as big as Vesper. The part about taking equity in exchange for a license doesnt seem to be a big deal to me....not sure what they are talking about when they refer to the receivable. CFRA notes that QCOM's COO and CFO also worked for Coopers & Lybrand. We further note that PricewaterhouseCoopers received $2.1 million last year for non-audit services on top of $515K for audit fees. Aside from the Chairman and CEO, the other seven listed executive officers include the 38-year-old son of the Chairman and CEO and the 35-year-old son of the Chairman and CEO. Options last year, when operating income was only $7 million and the Company posted a net loss, amounted to an estimated $15.1 million for the Chairman and CEO, and an aggregate of $50.9 for the other four top officers. Ummm....hundreds of companies gave business to the same firm for accounting and auditing. The stuff about IJ and sons is laughable. It's not like they have been hiding the kids in a corner....they clearly have a ton of responsability. I'm not sure I particuarly like it....but the reasons have nothing to do with their pay. I would have been more worried if they were going after the investments like Inquam and Vesper. Many companies do similair investments...but they look far worse than what this report seems to talk about. Slacker

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