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Qualcomm Announces Second Quarter Fiscal 2012 Results

3G and 4G devices drive record earnings per share!

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Qualcomm Announces Second Quarter Fiscal 2012 Results
[ Business]

Qualcomm has just announced record earning per share via their second quarter 2012 fiscal report. Revenue is up 28% year-over-year and came in at just under $5 billion for the quarter. Very impressive! Operating income fell by 2% since last quarter, but net income is up 59% sequentially and 123% year-over-year. Sounds pretty good!

Diluted earning per share is the big news and they’re up 58% since last quarter, and 117% year-over-year. It’s a happy time for investors. They returned $366 million to stockholders, or about $0.215 per share, of cash dividends paid.

Dr. Paul E. Jacobs, chairman and CEO of Qualcomm comments on the outstanding quarter:

“I am pleased to report another quarter of record revenues and earnings per share, driven by strong demand for 3G- and 4G-enabled devices across both developed and emerging regions,”

“We are excited to see the continued growth of 3G and 4G smartphones, as well as new mobile computing devices. We are increasing our operating expenses to facilitate additional 28 nanometer supply and to continue to position our industry-leading chipset solutions for the opportunities ahead.”

Second Quarter Results (GAAP)

* Revenues: 1 $4.94 billion, up 28 percent year-over-year (y-o-y) and 6 percent sequentially.

* Operating income: 1 $1.51 billion, up 6 percent y-o-y and down 2 percent sequentially.

* Net income: 2 $2.23 billion, up 123 percent y-o-y and 59 percent sequentially.

* Diluted earnings per share: 2 $1.28, up 117 percent y-o-y and 58 percent sequentially.

* Effective tax rate: 1 17 percent for the quarter.

* Operating cash flow: $1.89 billion, up 7 percent y-o-y; 38 percent of revenues.

* Return of capital to stockholders: $366 million, or $0.215 per share, of cash dividends
paid.

Non-GAAP Second Quarter Results

* Revenues: $4.94 billion, up 28 percent y-o-y and 6 percent sequentially.

* Operating income: $1.90 billion, up 15 percent y-o-y and 2 percent sequentially.

* Net income: $1.76 billion, up 21 percent y-o-y and 5 percent sequentially.

* Diluted earnings per share: $1.01, up 17 percent y-o-y and 4 percent sequentially.
Excludes $0.41 earnings per share attributable to the QSI segment, $0.11 loss per share attributable to certain share-based compensation and $0.03 loss per share attributable to certain acquisition-related items.

* Effective tax rate: 17 percent for the quarter.

* Free cash flow (defined as net cash from operating activities less capital expenditures):
$1.81 billion, down 2 percent y-o-y; 37 percent of revenues.

Qualcomm Announces Second Quarter Fiscal 2012 Results
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