Mobile semiconductor manufacturer Qualcomm reported fiscal fourth-quarter revenues of USD 2.69 billion, down 19 percent from USD 3.33 billion in the year-ago quarter. Equipment and services revenues fell to USD 1.76 billion from USD 1.86 billion previously, while revenues from licensing and royalty fees fell to USD 921 million from USD 1.46 billion. Net income fell 9 percent to USD 803 million or USD 0.48 per share from a net income of USD 878 million or USD 0.53 per share. The fourth quarter results included a USD 230 million charge, or USD 0.14 diluted loss per share, related to an estimated fine expected to be levied by the Korea Fair Trade Commission. The fourth quarter also included a USD 155 million tax benefit, or USD 0.09 diluted earnings per share, related to prior years as a result of tax audits. Pro-forma revenues fell 19 percent to USD 2.68 billion, while net income was down 23 percent to USD 811 million. The operating profit fell to USD 597 million from a profit of USD 1.33 billion a year ago. Qualcomm had USD 2.71 billion in cash and cash equivalents at the end of the quarter. The company expects Q1 2010 revenues to be between USD 2.55-2.75 billion, while diluted EPS should be USD 0.41-0.45 per share. Qualcomm forecast for Q1 WCDMA/CDMA device shipments of 130-135 million, while the average selling price should fall to USD 198 from USD 212 in the year-ago quarter. The company continues to forecast growth for 3G CDMA in this year, and anticipates accelerated CDMA device growth in calendar year 2010 as the global migration to 3G continues.
