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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Deep Margin who wrote (11304)	6/9/1998 2:45:00 PM
From: JScurci	Respond to of 152472

To Deep Margin, I'd like to ask what value does your belated take on last Qtr's results provide to this thread? If it were at all insightful it would still be welcome however untimely. If on the other hand you wish to merely show off your proficiency in addition and subtraction as well as a propensity to throw unwarranted barbs at this company's management, perhaps in the future you can be more of a "mensch" and confine your future posts to those that offer some kernel of usefulness to this thread. regards, John P.S. I truly hope for the sake of your own portfolio that your "analytical neural synapse" functions in a more timely manner than that exhibited by today's personal epiphany over Qualcomm's results now 48 days old.

To: Deep Margin who wrote (11304)	6/9/1998 2:50:00 PM
From: Gregg Powers	Read Replies (1) \| Respond to of 152472

Deep Margin: Before the aneurysm bursts, there was no attempt at obfuscation. During the conference call, management (specifically Tony Thornley) spelled out all the non-recurring events and explained to the Street that the "pure" number was $0.25/shr. Prior to March, the company accounted for royalties on a cash basis. That is, the company did NOT accrue royalties as they were earned (consistent with generally accepted accounting principles (GAAP)) but chose the more conservative approach of recognition only when funds were remitted. The company supported this ultra-conservative positive by stating that royalties had not been sufficiently predictable in the past to allow for accrual. With the broadened commercial base, and expanded number of royalty payers, accrual accounting was required under GAAP. However, the $18mm was specifically disclosed. As were the charges to restructure the Sony relationship with QPE and so on. Best Regards, Gregg