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Technology
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Qualcomm reaffirms outlook
Cell phone chipmaker expects to meet analysts' second-quarter views of 20 cents a share.
February 25, 2002: 9:19 a.m. ET
graphic NEW YORK (CNN/Money) - Wireless technology vendor Qualcomm Inc. reaffirmed its second-quarter earnings guidance Monday, saying shipments for the quarter are at the high end of estimates or above them.

For the quarter ending March 31, San Diego-based Qualcomm said it expects a pro forma profit of 20 cents a share, in line with analysts' estimates, according to First Call.

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The company's estimates exclude results from its Strategic Initiatives unit.

 
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Qualcomm (QCOM: up $3.21 to $35.91, Research, Estimates) said its fiscal second-quarter shipments related to next-generation wireless technology were either in line with targets or higher than expected, leaving it to believe that so-called 3G technology will be adopted increasingly in the United States.

Despite solid shipping orders, Qualcomm has not escaped accounting scrutiny in the wake of Enron's collapse. A recent report by the Center for Financial Reporting and Analysis questioned the company's use of pro forma results.

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  • Qualcomm and Verisign draw more heat
  • Qualcomm
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    Qualcomm also said it expects to ship more chips in the third quarter compared with the second quarter, spurred by demand in North America, South Korea and Japan. graphic

    -- from staff and wire reports
    SPECIAL:





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