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To: Johnny Canuck who wrote (43432)	7/19/2006 8:47:54 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68774

Qualcomm quarterly profit rises, but shares fall By Reuters news.com.com Story last modified Wed Jul 19 15:17:41 PDT 2006 Wireless chip developer Qualcomm's fiscal third-quarter earnings and revenue rose, the company said on Wednesday, but investors dumped its shares in after-hours trade. The provider of technology licenses and chips for cell phones said its net income for the quarter ending June 25 rose 15 percent from the year-ago quarter to $643 million, amounting to 37 cents a share, while revenue rose 44 percent to $1.95 billion. Analysts on average expected earnings of 37 cents a share on a GAAP basis, 42 cents a share excluding items such as stock based compensation, and revenue of $1.95 billion, according to Reuters Estimates. Shares in Qualcomm dropped 5.7 percent to $34.64, down from a close of $36.73 on the Nasdaq. In other news: Microsoft vows to play fair Tech-related YouTube clips you shouldn't miss Photos: Robots get smart News.com Extra: Google's unknown artist has huge following Video: Intel launches Montecito Itanium Qualcomm dominates the market for chips based on CDMA, a cell phone technology used in the United States and other parts of the world. It also sells technology licenses and chips for W-CDMA, a high-speed wireless standard popular in Europe. In the same quarter a year earlier, Qualcomm reported a profit of 33 cents per share and revenue of $1.36 billion. Its shares fell to around $32.66 in after-hours trade on the Inet electronic brokerage system after closing at $36.73 on Nasdaq. The company's shares have fallen about 15 percent so far this year, with recent declines stemming from concerns arising from a decision by Nokia to pull back from CDMA. The Philadelphia Stock Exchange index of semiconductor stocks, SOXX, has fallen around 14 percent in the same time frame.