Michael Ching
Michael Ching
Michael Ching is an American composer, conductor, and music administrator. A prolific and eclectic composer, he is best known nationally as the composer of innovative operas, including his a cappella adaptation of Shakespeare's A Midsummer Night's Dream. His other major operas include Buoso's Ghost, Corps of Discovery, Slaying the Dragon, Speed Dating Tonight!, and Alice Ryley...
both certain charge costs demand felt months next obliged reflects size weaker
The size of this charge reflects both much weaker demand forecasted over the next 12 months as well as the costs for certain commitments that Cisco felt obliged to fulfill.
company concern concerned earnings forecasts future outlook relates remain
Our concern on Qualcomm relates to the outlook for the handset and CDMA business. As we have indicated previously, we remain concerned that the company may take down forecasts for future earnings because we think the company's CDMA forecasts are too aggressive.
bloated company inventory model older slowing suffers transition
Specifically, the company suffers from a bloated inventory of older model phones, which is slowing the transition to newer, higher-margin products.
biggest growth optical revenue systems
The growth in Lucent's optical systems revenue has been the biggest disappointment.
based china currently diminished due earnings estimate events growth june looks million outlook percent press pro recent revenue
In the near-term, Qualcomm's earnings outlook has been diminished due to recent events in China and Korea. For the June quarter, we are currently forecasting 16 percent pro forma revenue growth to $750 million and 26 percent pro forma EPS growth to 27 cents. Based on the company's press release, our EPS estimate looks to be too high.
continued declined demand dropped margins million operating percent performance quarter reflected sales shipped weak year
Chipset sales declined 26 percent to $269 million, and operating margins dropped to 24 percent from 39 percent. Qualcomm shipped only 11 million chipsets in the quarter, down from 15 million in the preceding quarter and 13.5 million a year ago. This disappointing performance partially reflected continued weak demand in Korea.
entire payment portion purchase recover sale
An acquirer could purchase the entire Lucent and recover a substantial portion of the payment through a sale of the microelectronics group.