Company increases first quarter fiscal 2008 revenue and earnings per share guidance

December 20, 2007

1 Min Read

SAN DIEGO -- Qualcomm Incorporated (NASDAQ:QCOM) today updated its financial guidance for the first fiscal quarter ending December 30, 2007.

The following statements are forward looking and actual results may differ materially. Please see "Note Regarding Forward-Looking Statements" at the end of this news release for a description of certain risk factors and Qualcomm's annual and quarterly reports on file with the Securities and Exchange Commission (SEC) for a more complete description of risks that may affect the forward looking statements.

Pro Forma Defined

Pro forma results and guidance exclude the Qualcomm Strategic Initiatives (QSI) segment, certain estimated share-based compensation, certain tax adjustments related to prior years and acquired in-process research and development (R&D) expense.

Business Outlook

Based on the current business outlook, we now anticipate first fiscal quarter Qualcomm pro forma revenues to be at the high end of the prior guidance of approximately $2.3 to $2.4 billion compared to $2.02 billion in the year ago quarter. We now anticipate first fiscal quarter Qualcomm pro forma diluted earnings per share to be approximately $0.52 to $0.53 compared to $0.43 in the year ago quarter. This estimate is based on the shipment of approximately 78 million Mobile Station Modem(TM) (MSM(TM)) chips during the quarter as compared to our prior estimate of 74 to 78 million units. We previously anticipated first fiscal quarter Qualcomm pro forma diluted earnings per share of approximately $0.50 to $0.52.

Qualcomm Inc. (Nasdaq: QCOM)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like