Qualcomm Q4 results
SAN DIEGO, Nov. 3 (Reuters) -
QUALCOMM Incorporated
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(Unaudited)
Three Months Ended Twelve Months Ended
Sep 27, Sep 28, Sep 27, Sep 28,
1998 1997 1998 1997
Revenues:
Communications
systems $802,008 $482,173 $2,863,092 $1,733,169
Contract services 71,483 69,498 270,388 211,661
License, royalty
and development
fees 52,475 49,748 214,390 151,535
Total revenues 925,966 601,419 3,347,870 2,096,365
Operating expenses:
Communications
systems 569,626 368,259 2,136,297 1,361,641
Contract services 51,146 51,920 197,102 156,365
Research and
development 104,926 71,795 349,483 235,922
Selling and
marketing 66,456 48,532 246,975 147,040
General and
administrative 48,696 25,079 163,372 89,148
Other -- -- 11,976 8,792
Total operating
expenses 840,850 565,585 3,105,205 1,998,908
Operating income 85,116 35,834 242,665 97,457
Interest income 7,049 11,729 39,484 34,845
Interest expense (1,892) (2,814) (8,058) (11,012)
Net gain on sale
of investments -- -- 2,950 13,400
Write-off of
investment in
other entity -- -- (20,000) --
Distributions on trust
convertible preferred
securities of
subsidiary trust (9,774) (9,692) (39,270) (23,277)
Minority interest in
(income) loss of
consolidated
subsidiaries (11,809) 3,051 (48,366) (2,979)
Equity in losses
of investees (11,024) -- (20,731) --
Income before
income taxes 57,666 38,108 148,674 108,434
Income tax expense (17,750) (7,990) (40,142) (16,500)
Net income 39,916 30,118 108,532 91,934
Net earnings per
common share:
Basic 0.57 0.44 1.57 1.37
Diluted 0.54 0.42 1.47 1.28
Shares used in per
share calculation:
Basic 70,115 67,967 69,203 67,335
Diluted 74,585 72,304 73,962 71,887
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