QUALCOMM Increases Financial Guidance

QUALCOMM increased its financial guidance for its fourth fiscal quarter and the fiscal year ending September 26, 2004, saying it now expects quarterly revenues excluding the QUALCOMM Strategic Initiatives (QSI) segment to increase 60-62% year-over-year and increase approximately 4-5% sequentially. The company is now expecting diluted earnings per share excluding the QSI segment of approximately $0.28-$0.30 in the fourth fiscal quarter, compared to a prior estimate of $0.27-$0.29 and to $0.14 in the year ago quarter. QUALCOMM also anticipates that total QUALCOMM revenues in the fourth fiscal quarter will increase by 60-62% year over year and increase approximately 4-5% sequentially. Total QUALCOMM diluted earnings per share are expected to be approximately $0.28-$0.30 in the fourth fiscal quarter, compared to a prior estimate of $0.26-$0.28, including an estimated $0.01 loss per share attributable to the QSI segment.



"The 3G CDMA market continues to grow at a rapid pace," said Dr. Irwin Mark Jacobs, Chairman and CEO of QUALCOMM. "Data services and advanced features, including multi-player games, positioning, photo messaging, music and video downloads, are proving very popular where offered, increasing average revenue per subscriber and driving phone upgrades."http://www.qualcomm.com