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Strategies & Market Trends : Gorilla and King Portfolio candidates - Moderated

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To: Mike Buckley who wrote (194)10/30/2003 5:57:48 PM
From: Jim Mullens  Read Replies (1) of 2955
 
Mike, re: QCOM Free cash flow and” Qualcomm's free cash flow metric that I use grew from a negative $290 million in FY99 to a positive $290 million in FY00. It grew more than 50% in FY01 and more than 50% again in FY02. Trailing free cash flow as of Q3 is more than 50% greater than in FY02”.
I come up with significantly different free cash flow figures(CF from Ops less CAPEX) than you-

FY 00..................$648.9M
FY01.....................577.3M
FY02.....................826.1M
FY03 9 months....1,068M

Additionally, Qualcomm has increased it’s cash plus marketable securities by $1.8B over the last 9 months, some $600M per quarter.

Help- What is your source and how do you calculate Free Cash Flow?

TIA- jim
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