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To: carranza2 who wrote (47623)	10/7/2001 12:48:15 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 54805

Your understanding of the WSJ report is probably not accurate. here is what i posted at the time as a quote from the article. you can make of it what you want. i posted the WSJ link on July 13, and i believe that was the date of the article. #reply-16070023 It's impossible to know precisely how much money Qualcomm has made since the mid-1990s without a formal earnings restatement, which Qualcomm says is unnecessary under GAAP. But since the beginning of 1996, on a pro forma basis excluding unusual charges, Qualcomm reported pretax income of $2.02 billion, according to Multex. Including all unusual charges, its pretax income was $1.44 billion over the same period, making it nearly 30% less profitable. Lynn Turner, the SEC's chief accountant, says the recent spate of write-offs of vendor-financed receivables raises troubling questions, though he declines to comment on specific companies. "I get very concerned when the accounting rules turn out an answer that just doesn't reflect the economics," Mr. Turner says.