CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST! Message Board

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Technology Stocks : CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST!

QCOM 174.73

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3:59 PM EST

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To: Maurice Winn who wrote (1386)	12/31/1996 6:45:00 PM
From: Uncle Mikey	of 1819

I don't know if this full story came out before or after the close of the market. Anyone know? Lehman Bros. Cuts 1Q, FY97 Earnings Views On Qualcomm Dow Jones News Services NEW YORK -- Lehman Bros. Inc. cut its earnings estimates for Qualcomm Inc. (QCOM) for the first fiscal quarter and for fiscal 1997, according to a report issued by the firm. Lehman Bros. cut its earnings estimate for the upcoming first fiscal quarter to 10 cents a share from 16 cents. It cut its estimate for the 1997 fiscal year to $1.20 from $1.28. As reported earlier, Lehman removed Qualcomm from its recommended list, but reiterated its buy rating on the stock. Qualcomm, San Diego, makes, sells, licenses and operates communications systems and products based on its proprietary digital wireless communications technology. Its products include handsets used in digital wireless personal communications services. Lehman managed a public stock offering for the company in August 1995. The firm's report said Qualcomm's revenues will be dented by delays in the rollout of wireless personal communications services by Sprint PCS in several cities. However, Lehman Bros. sees Qualcomm as a big winner as personal communications services gain in popularity worldwide. It estimates revenues for fiscal 1998 at $2.8 billion and earnings at $2.36. ''...Qualcomm is now poised to experience rapid revenue growth as a major manufacturer of wireless infrastructure and handsets,'' the report said. ''We believe that Qulacomm's current backlog of more than $1.7 billion has highlighted the potential of this opportunity.'' Qualcomm is expected to announce first fiscal quarter earnings Jan. 20.

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