SAN DIEGO-Qualcomm Inc. reported its net income for the first quarter of fiscal 1999 was $49
million, or 65 cents per share, compared with $37 million, or 50 cents per share, the previous year.
Revenues were
$941 million, an increase of 20 percent over the first quarter 1998. Communications systems revenues in first quarter
1999 were $817 million, compared with $677 million the previous year.
“As we begin the fiscal year, we
intensified efforts to increase our efficiency and improve profitability,” said Dr. Irwin Jacobs, chairman and chief
executive officer of Qualcomm. “We made progress in improving gross margins on our phone products and in
keeping operating expenses essentially flat from the fourth quarter of fiscal 1998. We will continue these efforts to
enhance shareholder value.”
Qualcomm said it signed more than 65 royalty-bearing licenses with
telecommunications manufacturers worldwide. License, royalty and development fees were $44 million during the first
quarter of fiscal 1999, compared with $45 million for the year-ago quarter.
In the first quarter, shipments of Code
Division Multiple Access equipment by licensees increased, resulting in increased royalty payments to the company.
This was offset by a decline in up-front license payments.
