Tony - "lots of sales but little profit"...
Pardon me for intruding here, but that describes QCOM rather accurately too.
Check the 10-Q filing.
Look in the table called "Condensed Consolidated Balance Sheet"
Briefly glance at the very important "bottom line" for shareholders.
Stockholders' equity:
Preferred stock, $0.0001 par value -- --
Common stock, $0.0001 par value 77 76
Paid-in capital 4,862,076 4,791,559
Retained earnings 384,180 244,947
Accumulated other comprehensive loss (135,351 ) (224,167)
Total stockholders' equity 5,110,982 4,812,415
Total liabilities and stockholders'
equity $ 6,332,453 $ 5,669,733
In its entire life, Qualcomm has generated and kept profits of 384 Millions, of which it has misplaced 135 Millions, offset by a transfer of 4.9 Billions from the pockets of shareholders into its coffers.
The company is not making very much of a profit at all. And never has. Actually. [EDIT: 384/4812 = 8% total, or perhaps 2% annualized since '98]
But that fact hasn't stopped the share price from rocketing through the roof, so it may just go there again.
But nobody should kid themselves it's because the company is making money.
The company's made a total of 384 Millions in its life. How much did Dr. J. give to a symphony? Where did that come from?
And the only concern this thread has with the BOD is that one guy served on Enron's board? Go figure.
Now back to the regularly scheduled technological superiority programming. |
