Flüsterschätzung Qualcomm - 500 Beiträge pro Seite

[Startrader_III]

Zahlen kommen gleich!!

posted by Christian (http://www.usnavy.de).

_______________________________________

QUALCOMM Incorporated (QCOM)
Whisper
Number:
+$0.26
Earnings
Date:
11-02-2000

Consensus
Estimate:
+$0.24

[Startrader_III]

Fourth Quarter Pro Forma EPS $.25, Fiscal 2000 Pro Forma EPS $1.05


posted by Christian (http://www.usnavy.de).



Record Pro Forma Net Income $835 million, Up 51 Percent from Fiscal Year 1999

SAN DIEGO--(BUSINESS WIRE)--Nov. 2, 2000-- The Company`s Fourth Quarter/FY00 earnings conference call will be

broadcast live beginning at 2:30 p.m. pacific time at:

www.qualcomm.com on the Investor Relations page. This conference

call may contain forward-looking financial information. The taped

audio replay will be available for five business days. To listen

to the replay, U.S. callers may dial [phone] and

International callers may dial [phone]. Both U.S. and

international callers should use reservation number 16406488.

QUALCOMM Incorporated (NASDAQ:QCOM - news) today reported pro forma revenues of $2.8 billion and pro forma
earnings per share of $1.05 for fiscal 2000, an increase of 12 and 31 percent, respectively, from the year ago period. Pro
forma revenues in the fourth quarter of fiscal 2000 were $635 million, an 11 percent decrease compared to $716 million in the
year ago period. Pro forma earnings per share were $0.25 in the fourth quarter of fiscal 2000 compared to $0.24 per share in
the fourth quarter of fiscal 1999, an increase of 4 percent (see note on page 2).

``This year we continued to focus on improving profitability while investing in areas of future growth. Central to our strategy is
the belief that CDMA-based wireless data and Internet access applications will fuel industry growth for years to come. As
cdma2000 1x and 1xEV networks are deployed around the world, subscribers will experience data-rich applications at speeds
never before possible on a wireless device. We are rapidly integrating these applications utilizing position location, voice
recognition, CD-quality music and video into our daily lives,`` said QUALCOMM Chairman and CEO, Dr. Irwin M. Jacobs.
``QUALCOMM is uniquely positioned to benefit from the wireless data revolution, which is enabled by CDMA technology
and implemented in our industry-leading integrated circuits. We acquired SnapTrack earlier this year to further expand our
technology patent portfolio and deliver the optimal position location solution to our customers, enabling them to develop a
broad range of new wireless devices and to meet Enhanced 9-1-1 requirements. In addition, our joint ventures with Microsoft
and Ford Motor Company will help pave the way for the expansion of CDMA into new platforms and devices.``

``As we move forward, we plan to leverage future growth opportunities by continuing our strong market position with 1x,
1xEV and multi-mode integrated circuits and further developing and investing in wireless data and Internet access applications.
We expect to continue the robust 3G licensing cycle that began this year by extending our agreements with both existing and
new licensees to include cdma2000, WCDMA and other CDMA technologies at the same royalty rate for each standard.
These agreements provide the foundation for growing our royalty stream as new markets, such as China, deploy CDMA
networks and legacy networks evolve to third-generation CDMA,`` Dr. Jacobs said.

Fiscal Year 2000

Earnings Per Share Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Pro Forma $ 0.27 $ 0.26 $ 0.27 $ 0.25 $ 1.05
Change from prior year 80% 44% 23% 4% 31%
Reported $ 0.23 $ 0.25 $ 0.19 $ 0.17 $ 0.85

Fiscal Year 1999

Earnings Per Share Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Pro Forma $ 0.15 $ 0.18 $ 0.22 $ 0.24 $ 0.80
Reported $ 0.08 $(0.07) $ 0.09 $ 0.18 $ 0.31

Note: Pro forma results (see pages 12-13) for fiscal 2000 exclude amortization of goodwill and other acquisition-related
intangible assets, one-time write-off of purchased in-process technology, employer payroll taxes on employee non-qualified
stock option exercises, operating losses incurred by the exited consumer phone business and charges related to the sale of this
business, one-time realized gains from sale of marketable securities, employee termination charges and other non-operating
items. The difference between pro forma and reported earnings per share in the third and fourth quarters of fiscal 2000 is
primarily related to the amortization of goodwill associated with the SnapTrack acquisition completed in March of 2000. Pro
forma results for the prior year period exclude the results of exited businesses and related charges, one-time gains and other
non-recurring items. Pro forma earnings exclude the abovementioned items and, therefore, differ from reported earnings, which
are presented in accordance with generally accepted accounting principles. Earnings per share are computed independently for
each of the quarters presented and for the fiscal year. Therefore, the sum of the quarterly net earnings per share will not
necessarily equal the total for the year.

Pro forma revenues declined to $635 million in the fourth quarter of fiscal 2000 from $716 million in the fourth quarter of fiscal
1999. The decrease was attributable to lower sales of QUALCOMM MSM integrated circuits utilized in CDMA phones sold
in the domestic South Korean market, due to the government-mandated elimination of phone subsidies. CDMA product sales
in other worldwide markets continued to grow and pro forma gross margins increased to 63 percent in the fourth quarter of
fiscal 2000 compared to 55 percent in the year ago period due to license fees and royalties representing a larger portion of total
revenues. Revenues and earnings from licensing activities increased in the fourth quarter of fiscal 2000 despite lower phone
shipments in South Korea.

Pro forma earnings per share for the fourth quarter of fiscal 2000 included a $0.01 charge to earnings in the QUALCOMM
Wireless Systems (QWS) segment. The charge was related to a limited number of OmniTRACS® antenna units the Company
believes will experience paint peeling due to the short term use of a paint process that has since been changed. The Company is
taking proactive steps to address the issue with OmniTRACS customers while the problem is largely of a cosmetic nature to
minimize any potential impact on the operation of the units.

Pro forma operating expenses (research and development and selling, general and administrative) for the fourth quarter of fiscal
2000 increased to 25 percent of revenues compared to 17 percent of revenues during the year ago period primarily due to
lower overall revenues and higher R&D expenses. The increase in pro forma research and development expenses, up 40
percent over the fourth quarter of fiscal 1999, was primarily associated with new product and technology initiatives to support
high-speed wireless Internet access and mobile data applications, including 1xEV (HDR), position location, Bluetooth and
multimedia capabilities (CD-quality music and video).

Net investment income increased to $60 million as a result of higher balances of marketable securities generated from positive
cash flow from operations and sales of exited businesses.

The Company`s pro forma annual effective income tax rate for fiscal 2000 was 37 percent, compared to 35 percent for fiscal
1999.

Reported revenues for the fourth quarter of fiscal 2000 were $635 million, compared to $1.1 billion in the year ago period. The
decrease in reported revenues was primarily attributable to the sale of the QUALCOMM Consumer Products (QCP) phone
business in February 2000. Reported earnings per share were $.17 in the fourth quarter of fiscal 2000, compared to $.18 per
share in the year ago period. Reported earnings before taxes and net income were $234 million and $139 million in the fourth
quarter of fiscal 2000 compared to $210 million and $136 million, respectively, in the year ago period.

Business Outlook

The following statements are forward-looking and actual results may differ materially. Please consult page 10 of this press
release for a description of certain risk factors and QUALCOMM`s SEC reports for a complete description of risks. In
response to SEC Regulation FD (Fair Disclosure), the Company plans to disseminate its quarterly business outlook, based on
current expectations, in conjunction with its quarterly earnings release and conference call. The Company will not provide any
further material guidance on analysts` financial models beyond the information provided in its quarterly earnings release and
conference call.

First Quarter Fiscal 2001

Unit Shipments -- The Company expects to ship approximately 14 million MSM integrated circuits during the first
quarter of fiscal 2001 compared to 11 million units in the fourth quarter of fiscal 2000.
Earnings Per Share -- The Company is comfortable with the current analyst consensus estimate of $0.28 pro forma
earnings per share in the first quarter of fiscal 2001. This estimate takes into account a decrease in Globalstar(TM)
contract services and other revenues in the first quarter of fiscal 2001 compared to the fourth quarter of fiscal 2000,
which will result in lower earnings in the QWS segment of approximately $0.02 per share.

Fiscal 2001

The Company is comfortable with the current analyst consensus estimate of $1.29 pro forma earnings per share for fiscal
2001. The Company anticipates growth to be moderate in the first half of fiscal 2001 and to accelerate in the second half
as third generation cdma2000 1x product volumes increase.
These estimates assume industry wide CDMA phone sales of approximately 90 million units in calendar year 2001 and a
20 percent decrease in the average selling prices of CDMA phones, upon which most royalties are calculated.
The Company expects a pro forma effective income tax rate of 37 percent in fiscal 2001.
The Company plans to continue to increase its investment in research and development and selling and marketing
expenses to support its integrated circuit and system software business, as well as in new products and services during
2001 to drive the rapid adoption and growth of 3G wireless data and Internet access in 2002 and beyond.