Wireless communications semiconductor supplier Qualcomm Inc. has announced results for the fourth fiscal quarter (4Q) and year ended September 25, 2011. Driven by rising demand for smartphones, continued adoption of 3G technologies in emerging regions, and massive licensing program, Qualcomm said that it has achieved record revenues and earnings. Also, the supplier reported growth in the shipment of MSM chipsets.
According to Paul E. Jacobs, chairman and CEO of Qualcomm, “The breadth and depth of our chipset roadmap, extensive licensing program and diverse set of global partnerships position us well for strong revenue and earnings growth in fiscal 2012. We are excited about the upcoming commercial launch of our groundbreaking Snapdragon multimode LTE solution and continue to invest in and execute on our strategic priorities to drive profitable growth.”
Consequently, the company reported a 4Q net income of $1.06 billion or 62 cents per share, up 22 percent from $865 million or 53 cents per share a year ago. Also, according to the results, Qualcomm’s revenue was higher than expected. The revenues went up by 39 percent year-over-year to $4.12 billion versus $3.99 billion predicted. Furthermore, Qualcomm said that for fiscal 2011, the net income was $4.26 billion, up 31 percent year-over-year, on $15 billion revenue.
Qualcomm is also expecting stronger earnings in fiscal 2012. As a result, the company is predicting revenues of 18 to 19 billion or earnings of $3.42 to $3.62 per share, excluding items. While media reports indicate that analysts are expecting earnings of $3.46 per share on revenues of over $17 billion.
On Wednesday, after the financial results were announced, Qualcomm shares in regular trading increased by $2.04, or 4.1 percent to close at $52.18. On Thursday, at the time of reporting, Qualcomm shares were higher by $3.42 or at a price of $55.60.Ashok Bindra is a veteran writer and editor with more than 25 years of editorial experience covering RF/wireless technologies, semiconductors and power electronics. To read more of his articles, please visit his columnist page.
Edited by Rich Steeves