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

To: Morgan Drake who wrote (27659)	4/20/1999 5:07:00 PM
From: Gregg Powers	Read Replies (11) \| Respond to of 152472

Forget $0.82!! Guys...the operative number is NOT $0.82...it's $1.20. Qualcomm included a proforma number reflecting what earnings would have been without the operating losses in the infrastructure division...$1.20/shr! Simple observation #1: the infrastructure operation has been sold, so the losses are gone forever. Simple observation #2: without the infrastructure losses, the company earnings were $1.20/shr during the quarter. Simple observation #3: $1.20 x 4 = $4.80/shr. This is a (very) good thing!!! GJP

To: Morgan Drake who wrote (27659)	4/20/1999 5:18:00 PM
From: drew myers	Read Replies (1) \| Respond to of 152472

Good Question- They did not word the book to bill ratio very well. This ratio is the ratio of orders taken to products actually shipped (or bills sent). For example, a book-to-bill of 0.74 means $74 in orders were received for each $100 worth of products shipped. Qcom's statement reads, "In addition to substantial growth in the shipment of MSM phone chips, the book-to-bill ratio for the ASICs business was 1:7 for the second quarter of fiscal 1999. The book-to-bill ratio means the Company has $1.70 in ASICs orders for every $1.00 of product shipped." so, and just splitting a hair here, it should read 1.7, not 1:7. Nevertheless, any book to bill over 1.1 is very encouraging...in any business.