Tuesday, November 3, 2009

Qualcomm Reports Quarterly Revenue of $2.69 Billion

Qualcomm reported quarterly revenue of $2.69 billion, down 19 percent year-over-year and 2 percent sequentially. Net income (GAAP) was $803 million, down 9 percent year-over-year and up 9 percent sequentially. For its full fiscal 2009, revenues were $10.42 billion, down 7 percent year-over-year Net income was $1.59 billion, down 50 percent year-over-year. Cash, cash equivalents and marketable securities totaled approximately $17.7 billion at the end of the fourth quarter of fiscal 2009, compared to $15.7 billion at the end of the third quarter of fiscal 2009 and $11.3 billion a year ago.

"We continue to forecast growth for 3G CDMA in 2009, despite industry forecasts of a decline in the total handset market. We anticipate accelerated CDMA device growth in calendar year 2010 as the global migration to 3G continues. Our broad chipset portfolio continues to expand, including additional low-cost single-chip solutions to further enable the 3G migration as well as increased investments in software and application processors to strengthen our leadership position in supporting higher-end, feature-rich devices. We remain well positioned to drive innovation given our strong balance sheet and operating cash flow while maintaining our focus on overall operating expenses," stated Dr. Paul E. Jacobs, chairman and CEO of Qualcomm.