Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.24

-2.4%

Jan 13 3:59 PM EST

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To: Jon Koplik who wrote (123981)	9/14/2002 12:31:28 AM
From: Ruffian	Read Replies (1) of 152472

Lucent said it expects a fourth-quarter loss of 45 cents a share, excluding a range of one-time items, due to the revenue decline and the inability to recognize tax benefits on losses. The company had not previously provided guidance on its expected loss, but analysts polled by First Call were expecting a loss of 16 cents a share. It also blamed charges associated with a significant customer financing default in September, but didn't identify the customer or the amount involved. Several analysts, though, identified the customer that defaulted as Leap Wireless International Inc. (NasdaqNM:LWIN - News) Officials at Leap, a San Diego-based wireless operator, have said it is in violation of certain credit agreements and analysts fear it may file for bankruptcy. Leap declined to comment further on Lucent's current problems. Prudential Securities estimated the charge for the default will account for about half the quarter's expected loss, or $700 million.

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