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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: bill anspach who wrote (6632)	1/27/2001 4:45:00 PM
From: cfoe	Read Replies (3) \| Respond to of 196461

Not clear what you mean by "in a pro forma fashion." I think the accounting for the assets and the accounting for future revenues and expenses are not related. On the CC, I believe it was Thornley who said that G* was now a "cash basis" customer. That is, QCOM will only send product that G* pays for in cash - i.e., no more sales on credit. Therefore, we can expect that sales to G* will be very low. In his remarks Thornley said G* revenues in the quarter were only $7 million and if they increase at all in Q2 it would be by a couple of million at best. One other thing I noticed. Thornley said that in Q1 they lost $34 million on G. Using 806.409 million diluted shares I get $.04 per share loss from G. Adding this to the $.29 gain means they would have earned $.33 per share excluding G* (i.e., if G* had just broken even). I believe they said on the call G* cost them 2 cents per share, so i do not know why the difference between their 2 cents and my 4 cents. Let me know if I have not answered your question and I will try again.