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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (47334)	11/2/1999 8:39:00 PM
From: puborectalis	Read Replies (2) \| Respond to of 152472

How's $75 a share(split adjusted) for yearend close??>>>>>>>>Qualcomm reports strong quarter Company sets four-for-one stock split By Janet Haney, CBS MarketWatch Last Update: 6:26 PM ET Nov 2, 1999 Silicon Stocks SAN DIEGO (CBS.MW) -- Qualcomm reported strong fourth-quarter results Tuesday, helped by record shipment numbers, as the company set a rare 4-for-1 stock split. The split, which has been affirmed by the board of directors, is subject to shareholder approval. Shareholders are expected to vote on the split on or around Dec. 20, with an approved split going into effect shortly thereafter. Qualcomm (QCOM: news, msgs) also requested a share increase to 3 million shares. The San Diego-based maker of code division multiple access technology said its net income minus non-recurring charges was $170 million, or 91 cents a share, vs. $39.9 million, or 28 cents in the year-ago quarter. Analysts surveyed by First Call expected Qualcomm to earn 88 cents a share in the fourth quarter. Sales rise Sales in the period hit $1.1 billion, a 14 percent jump from the $926 million reported the year earlier. Qualcomm's technology is used in cellular phones, wireless telephone system equipment and satellite systems. The company said it shipped 14 million mobile station modem phone chips, 15,000 OmniTRACS units and 1.9 million CDMA mobile phones during the quarter. Qualcomm shares dipped 3/8 to 224 13/16 Tuesday but rose 7 3/16 to 232 in after-hours trading. Additionally, the company said its operating expenses decreased to 17 percent of revenue, compared with 24 percent of revenue in the year-ago fourth quarter. "Efforts are well underway to introduce the initial third generation capabilities during the year 2000, using the same bandwidth as today's cdmaOne networks, but approximately doubling the capacity for voice and supporting even higher data rates," Dr. Irwin Jacobs, chairman and CEO, said in a statement. Qualcomm also said that it expects to enter into an agreement for the sale of its consumer products division by the end of 1999. Janet Haney is a reporter for CBS MarketWatch.