Friday, July 23, 2004
CDMA technology vendor Qualcomm Wednesday (July 21) reported strong increases in both sales and revenues for the third quarter of its fiscal year.
The company reported revenues of $1.3 billion, a 50 percent increase over the same quarter a year ago and a 10 percent increase over the previous quarter, according to the company. It reported net income of $486 million, a 154 percent increase over the year-ago quarter. However, that represented no revenue increase over the previous quarter.
In a statement, the company attributed the strong performance to the growth of CDMA wireless phone systems.
"The CDMA market continues to exhibit impressive growth," Dr. Irwin Mark Jacobs, Qualcomm's chairman and CEO said in a statement. "Record demand for our chipsets and stronger-than-expectred WCDMA sales are driving higher revenues and earnings."
Qualcomm develops chipsets and system software for CDMA-based system, including next-generation WCDMA. It also holds a number of patents on such systems.
By: DocMemory
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