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Technology Stocks : The New Qualcomm - a S&P500 company -- Ignore unavailable to you. Want to Upgrade?

To: quidditch who wrote (5952)	1/31/2000 2:10:00 AM
From: quidditch	Respond to of 13582

Royalty revenues in Q1/00. Many analysts during the CC expressed puzzlement/skepticism as to the number posted in Q1/00. Many have also noted the huge YoY gain for Q1/00 vs. Q1/99. In reviewing my notes on the Q1/99 call (I think), Thornley noted that there might be a higher than normal adjustment in Q2/99 in Q's normal royalty revenue estimate/adjustment process. This was on the heels of a very robust Q1/99, as Korea (and much of Asia generally) was picking up. Significance: if Q1/99 was slightly low-balled, Q2/99 was goosed, which will make Q2/00 look worse by comparison YoY (as vs. the sequential comparison made in the CC). More for the analysts to distort. In calendar 1999, therefore, Q had a cushion to smooth out the normal seasonal softness in Q2 of that year. Steve