QUALCOMM Second Quarter 2004 Results, $1.2 Billion Revenues

QUALCOMM Announces Second Quarter Fiscal 2004 Results Revenues $1.2 Billion, EPS $0.58 Revenues $1.2 Billion, EPS $0.53 Excluding QSI Segment


SAN DIEGO ? April 22, 2004 /Wi-Fi Technology News/-? QUALCOMM Incorporated (NASDAQ: QCOM) today announced its second quarter fiscal 2004 results ended March 28, 2004. Revenues were $1.2 billion in the second quarter of fiscal 2004, up one percent sequentially and 20 percent year-over-year

The second quarter fiscal 2004 net income was $488 million and diluted earnings per share were $0.58, up 39 percent and 35 percent sequentially and 374 percent and 346 percent year-over-year, respectively. The second quarter fiscal 2004 net income excluding the QSI segment was $442 million, up six percent sequentially and 41 percent year-over-year. The second quarter fiscal 2004 diluted earnings per share excluding the QSI segment were $0.53, up four percent sequentially and 39 percent year-over-year.

Detailed reconciliations between total QUALCOMM results and results excluding QSI are included at the end of this news release. Prior period reconciliations are presented on our Investor Relations web page at www.qualcomm.com. In this quarter we disposed of all remaining operations and assets related to the V?sper Operating Companies and TowerCo. In accordance with Statement of Financial Accounting Standards No. 144, ?Accounting for the Impairment or Disposal of Long-Lived Assets,? their results of operations and cash flows are presented as discontinued operations within the QSI segment.

Our statements of operations and cash flows for prior periods have been adjusted to reflect this and are presented on our Investor Relations web page at http://www.qualcomm.com. ?Our financial results reflect the strong acceptance and rapid global growth of 3G CDMA,? said Dr. Irwin Mark Jacobs, chairman and CEO of QUALCOMM. ?Consumers and enterprises increasingly recognize the benefits of CDMA-based networks, with the number of subscribers now exceeding 200 million. Early 3G CDMA entrants continue to perform well. KDDI, the first CDMA operator....

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