San Diego-based Qualcomm, manufacturer of wireless communications equipment, has its ear to the industry.
In 2005, the company posted $5.7 billion in revenues, a 37.8% profit margin, 16.2% revenue growth and 22.2% return on equity.
For 2006, revenues were up 34% year-on-year to $1.83 billion and net income increased by 11% to $593 million.
"Qualcomm's record revenue this quarter was driven by greater overall CDMA handset shipments and record demand for our chipsets," said Paul E. Jacobs, CEO.
Based on its strong results, the company now anticipates third-quarter pro forma revenues to be at or slightly above the high end of prior guidance of approximately $1.77 to $1.87 billion.
"The increase in our guidance reflects stronger than expected new orders for our very low-tier chipsets as well as increased demand for 1xEV-DO chipsets," said Jacobs, in a May 3, 2006, statement. "The breadth of our segmented chipset offerings is unsurpassed in the industry and clearly demonstrates the level of innovation and execution we have achieved as a result of our significant research and development investments."
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