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

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To: slacker711 who wrote (23558)	6/8/2002 12:06:01 PM
From: slacker711	Read Replies (2) of 196591

Does anybody have notes from the January conference call? I was trying to figure out the number of Vesper subscribers that were added during the first quarter. The best I could find was the following from a UBS Warburg report. ragingbull.lycos.com Specifically, during the December quarter (FY1Q02), Qualcomm agreed to invest $266 million in Vespar, a wireless operator in Brazil with an estimated 420,000 subscribers at the end of fiscal 2001. This seems like it is referring to the number of subs at the end of September '01. I had thought that Qualcomm had given a number for the end of calendar year '01 during the CC. If the 420,000 number is correct then Vesper is doing terrible. There is a slide during the analyst day presenetation that indicates that they have "more than 450,000" subs at the end of March '01. Qualcomm doesnt usually hesitate to round up.....so, at most, my guess would be 475,000 subscribers. A sub gain of 55,000 during six months is not quite the trend that they need to get to 800,000 by year-end (down from their original target of 1,000,000). Also, it is tough to square the slow subscriber growth with the statement that LG is selling 1,000 handsets a day for Vesper (slide 34 of the analyst day presentation). Did Vesper scrub their subscriber numbers before they were acquired? That might explain some of the disrepancy.... Slacker

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