Fourth-quarter revenue rose 28 percent to $1.11 billion from $871 million a year ago. However, revenue fell 17 percent from the third quarter due to the change in royalty accounting.

The company said significant royalties that would have been recognized in the latest quarter will now be recognized in the fiscal first quarter of 2005 when the actual royalty reports are received from licensees.

Qualcomm's licensees reported selling 41 million cell phones that use code division multiple access, the technology Qualcomm invented, up from 23 million units in the same quarter a year earlier.

On a generally accepted accounting basis, the company expects first-quarter earnings of 23 cents to 25 cents a share, on revenue of $1.3 billion to $1.4 billion.

Wall Street has been projecting earnings of 31 cents a share for the December quarter, on revenue of $1.5 billion.

By: DocMemory
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