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Qualcomm Pegs Net Income at $648M

Record shipments of third-generation cell phones and microchips drove Qualcomm Inc.’s performance during the first quarter of fiscal 2007, company officials said Jan. 24.

Qualcomm reported net income of $648 million, or 38 cents per diluted share, on revenue of $2.02 billion during the quarter, which ended Dec. 31.

One year ago, Qualcomm reported net income of $620 million, or 36 cents per diluted share, on revenue of $1.74 billion.

Qualcomm executives said they expected legal expenses to grow as the company litigates disputes with a number of other wireless companies.

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, Brad Graves

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