Technology Industry
Industry: Email Alert RSS FeedQualcomm 4Q earnings slide, Microsoft leaves Wireless Knowledge.
RCR Wireless News, November, 2001 by OMATSEYE, SAM
Wireless technology bellwether Qualcomm Inc. fell under the economy's dark shadow last week as its shares lost value after the company announced its fourth-quarter earnings, which were below market estimates. The company, which drives the different brands of the CDMA technology by making and licensing its chipsets, attributed its results to a partner's inability to pay interest on loans as well as an accounting change.
The San Diego-based company also secured enterprise solutions provider Wireless Knowledge as a subsidiary, buying up all the shares owned by Microsoft Inc. Qualcomm recorded a pro farina profit of $162.7 million, or 20 cents a share, down from $186.1 million, or 23 cents, a year ago. Qualcomm reported a net loss of $44.5 million,...
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