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Qualcomm Reports 1st Quarter Fiscal 2012 ResultsFeb 06, 2012 (Close-Up Media via COMTEX) -- Qualcomm Inc., a developer of wireless technologies, products and services, announced record results for the first quarter of fiscal 2012 ended December 25. "I am pleased to report another record quarter with revenues, earnings and MSM shipments reaching all-time highs, driven by our industry-leading chipset portfolio and the continued strong demand for smartphones around the world," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "We are raising our revenue and earnings guidance as our broad licensing partnerships and extensive chipset roadmap, led by our integrated Snapdragon processors, position us well for strong growth in fiscal 2012. We continue to invest in innovative wireless technologies, products and services, and we are excited about the opportunities ahead as 3G and 4G continue to expand across new device types and geographies." According to a release on February 1, cash, cash equivalents and marketable securities totaled $22.0 billion at the end of the first quarter of fiscal 2012, compared to $20.9 billion at the end of the fourth quarter of fiscal 2011 and $19.1 billion a year ago. As of December 25, $948 million remained authorized for repurchases under the Company's stock repurchase program, net of put options outstanding. On January 10, the Company announced a cash dividend of $0.215 per share payable on March 23, to stockholders of record as of March 2. Qualcomm's fiscal 2012 effective income tax rates are estimated to be approximately 18 percent for GAAP and approximately 18 to 19 percent for Non-GAAP. The first quarter effective income tax rates for GAAP and Non-GAAP were both 19 percent. The QSI segment makes strategic investments, many of which are in early-stage companies, and holds wireless spectrum. QSI also includes the discontinued operations of the Company's FLO TV business. GAAP results for the first quarter of fiscal 2012 included a $0.01 loss per share for the QSI segment. ((Comments on this story may be sent to [email protected])) |