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

To: SKIP PAUL who wrote (20787)	1/4/1999 4:45:00 PM
From: Ruffian	Read Replies (1) \| Respond to of 152472

Q & CDMA News> Conexant Systems Sees Profit by Sept. 30: Bloomberg Forum Bloomberg News January 4, 1999, 12:17 p.m. PT Conexant Systems Sees Profit by Sept. 30: Bloomberg Forum New York, Jan. 4 (Bloomberg) -- Conexant Systems Inc., the communications semiconductor business spun off by Rockwell International Corp. last month, expects to report a profit when it closes fiscal 1999 in September, said Chairman Dwight Decker. Conexant emerged from Rockwell debt-free on Dec. 11 with a $350 million bank credit line in place, Decker said. It's cash- flow positive, and has assets including Rockwell's communications semiconductor patents and sales to customers including Compaq Computer Corp., the biggest maker of personal computers. Conexant, based in Newport Beach, California, reported a pro- forma loss of $262 million on revenue of $1.2 billion for fiscal 1998. ''We're targeting a return to profitability,'' Decker told the Bloomberg Forum. Rockwell remains one of the top U.S. makers of electronic communications and controls, and is a major Conexant customer. About 45 percent of Conexant's 1999 revenue will come from selling chips for computer modems, down from 55 percent last year and as much as 80 percent only a few years ago, Decker said. Conexant now expects greater earnings from selling higher-margin chips for other products to customers like Cisco Systems Inc., the No. 1 provider of networking equipment, he said. Its businesses that sell chips for products including fax machines, cable TV set-top boxes and communications networks and cellular phones expect to have a good year, Decker said. Conexant's chips for cell phones using the code-division multiple access standard have about an 80 percent share of the market, he said. Customers include CDMA developer Qualcomm Inc. and Samsung Electronics Corp., Oki Electronics Corp. and NEC Corp. Growth Area ''Those products generate the highest margins and address higher-growth customers as well,'' Decker, 48, a Manitoba native who holds a doctorate in applied mathematics from California Institute of Technology, said by satellite from Nasdaq Amex headquarters in New York. The focus may insulate Conexant as the price of modem chips continues to plunge, a result of an industry slump and competition from Lucent Technologies Inc., a 1996 spinoff of AT&T Corp., the No. 1 long-distance carrier. ''Lucent has been enormously successful. We look to it as a model,'' Decker said. The chairman said Conexant had spent about $1 million on its new name and logo, which are supposed to connote ''what's next for communications.'' Master-McNeil Inc., of Berkeley, California and Siegel & Gale of Los Angeles created the identity, he said. --David Zielenziger in the New York newsroom (212) 318-2304/jcn

To: SKIP PAUL who wrote (20787)	1/5/1999 2:36:00 AM
From: Spaw	Respond to of 152472

Skip, Yep. And that wasn't INCA or ISLD either. That was LEHM and some others of consequence. Very important for the rally to follow through tomorrow, or at least the stock holds its ground. QCOM blasted through the 200 day moving average on increasing volume. Very healthy action. Also good to see institutional money stepping up to the plate at the end of the day. I'm hoping the market doesn't go south big time, at least for a week or two so I can cash in on a nice profit from this thing. Looking for something in the area of 60-62. Regards, --spaw--