Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: Webster who wrote (24777)	3/23/1999 2:08:00 PM
From: Ruffian	Read Replies (1) of 152472

Could The Reason Be Wrong Technology?> March 23, 1999 Omnipoint reports loss NEW YORK—Omnipoint Corp., the Bethesda, Md., parent of personal communications services provider Omnipoint Communications Services, reported late March 22 a year-end 1998 loss of $677.73 million, up from $321.01 million for 1997. The company reported a loss of $206.84 million for the latest fourth quarter, compared with a loss of $119.18 million for the last quarter of 1997. Omnipoint said two ‘‘extraordinary items'' increased its losses in the last quarter of 1998: ‘‘return and restructuring of C-block licenses ... and an accounting adjustment during the fourth quarter related to the treatment of the joint operating arrangement in Wichita, Kas.'' Total revenue for 1998 was $172.5 million, more than tripling 1997 revenue of $52 million. Revenue for the fourth quarter of 1998 was $54.1 million, an increase of 129 percent from fourth quarter 1997 revenues of $23.7 million. The company also said it is closer to finding an investor.

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