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

QCOM 177.78

-2.2%

Jan 9 9:30 AM EST

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To: slacker711 who wrote (26808)	9/17/2002 9:46:56 AM
From: Art Bechhoefer	Read Replies (1) of 197156

Slacker, missing from the analysis of the Pegaso-Telefonica deal is the fact that QUALCOMM had to write off its entire investment in Pegaso when Pegaso was unable to make payments on outstanding debt. This resulted in a one-time loss of about $600 million, reported in earlier financial statements. The closing of the Telefonica deal means that most of this write-off (i.e., $525 million) now will be reported as a ONE TIME GAIN. My guess is that it will appear on the financial statement for the fourth quarter fiscal year, ending this Sept. 30. Putting this in perspective, note that pro forma quarterly earnings are running at about $200 million. Art

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