Qualcom Q3 profit falls 13% (QCOM) by Jeffry Bartash
Qualcomm on Tuesday posted a 13 percent decline in fourth-quarter net income as
sales remained sluggish. Looking ahead, Qualcomm trimmed forecasts for the first
quarter of 2002. In the fourth quarter ended Sept. 30, Qualcomm said pro forma profit
totaled $162.7, or 20 cents a share, compared with $186.1 million, or 23 cents, a
year ago. That fell short of the 25-cent consensus estimate of analysts surveyed by
Thomson Financial/First Call. Pro forma revenue climbed to $682 million from $635
milliona a year ago, but that was less than expected. The company reported results
after U.S. markets closed. On Tuesday, shares of Qualcomm (QCOM) jumped $1.65
to $54.73. The stock has fallen 50 percent in the past year.
Gruß Dr. Broemme
