QUALCOMM Releases Financial Results

Dec. 15, 2006
QUALCOMM, Inc. has announced results for the fourth fiscal quarter and fiscal 2006 year ended September 24, 2006 QUALCOMM’s fourth quarter revenues under generally accepted accounting principles (GAAP) were $2.00 billion, up 28 percent year-over-year ...

QUALCOMM, Inc. has announced results for the fourth fiscal quarter and fiscal 2006 year ended September 24, 2006

QUALCOMM’s fourth quarter revenues under generally accepted accounting principles (GAAP) were $2.00 billion, up 28 percent year-over-year and 2 percent sequentially. GAAP net income was $614 million, up 14 percent year-over-year and down 5 percent sequentially. GAAP diluted earnings per share were $0.36, up 13 percent year-over-year and down 3 percent sequentially.

QUALCOMM’s fiscal 2006 GAAP revenues were $7.53 billion, up 33 percent year-over-year. GAAP net income was $2.47 billion, up 15 percent year-over-year. GAAP diluted earnings per share were $1.44, up 14 percent year-over-year.

QUALCOMM’s pro forma results for the fourth quarter included revenues of $2.00 billion, net income of $705 million, and diluted earnings per share of $0.42.

QUALCOMM’s pro forma results for fiscal 2006 include revenues of $7.53 billion, net income of $2.80 billion, and diluted earnings per share of $1.64.

QUALCOMM’s cash, cash equivalents, and marketable securities totaled approximately $9.9 billion at the end of the fourth quarter of fiscal 2006, compared to $9.5 billion at the end of the prior quarter and $8.7 billion a year ago. On October 5, 2006, QUALCOMM announced a cash dividend of $0.12 per common share payable on January 4, 2007 to stockholders of record at the close of business on December 7, 2006.

“Our record performance in fiscal 2006 was a direct result of the focus and innovation delivered by the employees of QUALCOMM and the success of our partners,” comments Paul E. Jacobs, QUALCOMM’s CEO. “We achieved record revenues, net income, and operating cash flow. We shipped a record 207 million MSM™ chips in fiscal 2006—up from 151 million in 2005. As of September 2006, there were approximately 402 million subscribers using third-generation (3G) CDMA-based networks worldwide compared to approximately 273 million at the same point in 2005.”

For further information on QUALCOMM’s financial results, go to www.qualcomm.com.

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