QUALCOM in FQ4 and FY2005
qualcomm.com
Total QUALCOMM Results:
Fourth Quarter
• Revenues: $1.56 billion, up 40 percent year-over-year and 15 percent sequentially.
• Net income: $538 million, up 37 percent year-over-year and down 4 percent sequentially.
• Diluted earnings per share: $0.32, up 39 percent year-over-year and down 3 percent sequentially.
• Effective tax rate: 32 percent.
• Operating cash flow: $945 million, up 23 percent year-over year; 61 percent of revenue. (Defined as net cash provided by operating activities.)
• Return of capital to stockholders: paid $147 million, or $0.09 per share, in cash dividends, up 29 percent year-over-year.
Fiscal 2005
• Revenues: $5.67 billion, up 16 percent year-over-year.
• Net income: $2.14 billion, up 25 percent year-over-year.
• Diluted earnings per share: $1.26, up 22 percent year-over-year.
• Effective tax rate: 24 percent.
• Operating cash flow: $2.69 billion, up 8 percent year-over-year; 47 percent of revenue.
• Return of capital to stockholders: $1.48 billion; this includes $524 million of cash dividends, or $0.32 per share, and $953 million to repurchase 27.1 million shares of our common stock.
QUALCOMM Pro Forma Results:
Fourth Quarter
• Revenues: $1.56 billion, up 14 percent year-over-year and 15 percent sequentially.
• Net income: $543 million, up 9 percent year-over-year and 17 percent sequentially.
• Diluted earnings per share: $0.32, up 7 percent year-over-year and 14 percent sequentially.
• Effective tax rate: 33 percent.
• Free cash flow: $838 million, up 31 percent year-over-year; 54 percent of revenue. (Defined as net cash provided by operating activities less capital expenditures.)
Fiscal 2005
• Revenues: $5.67 billion, up 13 percent year-over-year.
• Net income: $1.97 billion, up 9 percent year-over-year.
• Diluted earnings per share: $1.16, up 8 percent year-over-year, excludes $0.06 per share attributable to the QSI segment and $0.04 per share attributable to the one-time tax benefits recorded in the second and third quarters of fiscal 2005.
• Effective tax rate: 30 percent.
• Free cash flow: $2.24 billion, up 4 percent year-over-year; 39 percent of revenue.
Bloomberg Abstract
>> Qualcomm Inc., the world's No. 2 maker of mobile-telephone chips, posted a 37 percent rise in fourth- quarter profit as higher royalties from the newest handsets pushed revenue to its biggest rise in five periods. Net income was $538 million, or 32 cents a share, compared with $393 million, or 23 cents, in the same period a year earlier. ... Sales rose to $1.56 billion, in line with the company's forecast of $1.48 billion to $1.58 billion. Revenue topped the $1.52 billion estimate of Lehman Brothers' analyst Timothy Luke, ranked by Institutional Investor magazine as the top wireless equipment analyst for the past six years. FORECAST: Profit excluding some costs in the first quarter will be 36 cents to 38 cents on sales of $1.67 billion to $1.77 billion, Qualcomm said. Analysts surveyed by Thomson expected profit of 35 cents on sales of $1.66 billion. In last year's first quarter, Qualcomm reported a profit of 28 cents a share excluding some costs on sales of $1.39 billion. <<
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