Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: cfoe who wrote (6635)	1/27/2001 5:41:19 PM
From: bill anspach	Read Replies (1) \| Respond to of 196491

Thanks for your response. My line of thinking is that QCOM's year over year revenues were light primarily because Globalstar revenue went from 124 million to 7million. If the next three quarters revenue comparisons don't have to include Globalstar then year over year revenue growth should look better. Don't laugh, I was just hoping that somehow accounting magic would make Globalstar go off the books.

To: cfoe who wrote (6635)	1/28/2001 1:26:18 AM
From: puzzlecraft	Read Replies (2) \| Respond to of 196491

The $34 million G* loss was very likely pre-tax, while the .29 EPS post-tax. Throw in the 35% pro-forma tax rate and do some unrounding: .2873 pro forma EPS .0422 Pretax G* loss .2873 + 65% of .0422 = .3147 or .31 EPS .04 = .02!

To: cfoe who wrote (6635)	1/28/2001 11:32:13 AM
From: David E. Taylor	Respond to of 196491

cfoe: I haven't listened to the CC yet, but the press release said that G* would result in a pro forma EPS loss of $0.02 in Q2. For Q1, the pro forma loss attributed to G* was $0.03. The 10Q filed for Q1 says: The Company has recorded charges of $48 million in cost of revenues, $481 million in asset impairment and related charges, $10 million in investment expense and $57 million in other non-operating charges related primarily to the impairment of certain assets. Since they don't say anywhere (that I've seen) how much in revenues they booked for Q1 from G, I'm not sure how they wound up with the $0.03 hit cited in the earnings press release for Q1. Maybe G made a P&I loan payment of around $22 in Q1 - G* didn't start defaulting on their loan obligation payments until the announcement on 1/16/01. David T.