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To: Lizzie Tudor who wrote (16723)	4/23/2003 5:28:01 PM
From: Bill Harmond	Respond to of 57684

Qualcomm Posts Higher Profit On 50% Increase in Revenue A WALL STREET JOURNAL ONLINE NEWS ROUNDUP Qualcomm Inc. reported a 50% jump in revenue for the fiscal second quarter, as the company continued to post standout numbers despite the world-wide telecommunications slump. The company also said it plans to sell its Vesper operations following a negative ruling by Brazilian regulators. Qualcomm, which makes mobile-phone chips using so-called CDMA technology and also receives royalties from other makers of CDMA equipment, posted net income of $103 million, or 13 cents a share. That compares with a profit of $43.9 million, or five cents a share, in the year-earlier period. Revenue in the quarter, which ended March 30, rose 50% to $1.04 billion from $696.1 million. The quarter's results include $160 million in asset-impairment charges related to Qualcomm's Vesper operation in Brazil, which the company has decided to sell. Qualcomm said the impairment charge is the difference between the carrying values of Vesper's long-lived assets and their estimated fair-market values. On an operating basis, the figure widely tracked by Wall Street, the company earned 38 cents a share, two cents greater than Thomson First Call's analyst consensus estimate. Looking forward, Qualcomm, of San Diego, expects earnings of 23 cents a share for the third quarter, on a 24% jump year-over-year in revenue Updated April 23, 2003 4:31 p.m.