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Nov. 11, 2007

On Friday, Qualcomm announced fiscal fourth quarter revenues of over $2.3 billion, a 15 percent net increase from the same quarter in 2006.

However, these results were down 1 percent from this year's third fiscal quarter.

Qualcomm announced net income of $1.13 billion, up a staggering 84 percent from the same quarter last year, and up 42 percent year-to-year.

Despite all this, Qualcomm expects less than expected results to come in the first fiscal quarter of next year, the quarter ending Dec. 31, 2007.

The company is predicting first quarter earnings of between 50 and 52 cents per share, just below average analysts expectation of 53 cents per share.

And it is predicting revenue for 2008 between $9.5 billion to $9.9 billion, below average analyst expectations of $9.97 billion.

Overall, Qualcomm said that due to ongoing legal disputes with Nokia, it has not included the estimated royalties it is owed from the handset maker.

In Qualcomm's fiscal fourth quarter report, it also said that general and administrative expenses had increased 5 percent year over year, due mostly to litigation and other legal costs.

Qualcomm's stock was down on news of the company's weak near-term outlook.

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Source: Wireless Week