QUALCOMM Raises Q1 2006

QUALCOMM anticipates its fiscal quarter revenues pro forma to be at the high end of prior estimate of approximately $1.67 to $1.77 billion. The company now anticipates first fiscal quarter pro forma diluted earnings per share to be approximately $0.38 to $0.39, compared to $0.28 in the year ago quarter. This estimate is based on the shipment of approximately 47 million Mobile Station Modem (MSM) chips during the quarter compared to approximately 39 million in the year ago quarter and approximately 40 million in the prior quarter.


QUALCOMM previously anticipated first fiscal quarter pro forma diluted earnings per share to be approximately $0.36 to $0.38 and estimated shipments of approximately 46 to 48 million MSM chips.


"Our updated guidance for the first fiscal quarter reflects higher handset ASPs due primarily to strength in WCDMA handset shipments in Europe and a positive mix in 1xEV-DO MSM chipsets," said Dr. Paul E. Jacobs, chief executive officer of QUALCOMM. "Regionally we see strong demand for 1xEV-DO products in North America, Japan and Korea. Our expectations for stronger WCDMA demand in Europe appear to be materializing as well. We see several European operators being particularly aggressive this holiday season with their 3G offerings. In addition, we now anticipate operating expenses will be modestly lower and investment income will be modestly higher than previously expected for the first quarter."http://www.qualcomm.com