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SECOND QUARTER FISCAL 2008 View Archive

TOTAL SECOND QUARTER (GAAP) RESULTS

  • Revenues: $2.61 billion, up 17 percent year-over-year and 7 percent sequentially.
  • Net income: $766 million, up 6 percent year-over-year and even sequentially.
  • Diluted earnings per share: $0.47, up 9 percent year-over-year and 2 percent sequentially.
  • Effective tax rate: 15 percent for the quarter. Fiscal 2008 estimated tax rate of approximately 16 percent.
  • Estimated share-based compensation: $88 million, net of tax, up 5 percent year-over-year and 4 percent sequentially.
  • Operating cash flow: $947 million, down 4 percent year-over-year; 36 percent of revenues.

RETURN OF CAPITAL TO STOCKHOLDERS:

  • $1.2 billion, including $455 million, or $0.28 per share of cash dividends paid (relating to dividends declared in the first and second quarters) and $769 million to repurchase 20.2 million shares of our common stock.
Operating Cash Flow (OCF) Trends
($ in millions)
  OCF OCF % of GAAP Revenues
FY05 $2,686 47%
FY06 $3,253 43%
FY07 $3,811 43%
1H FY08 $1,827 36%
Operating Cash Flow (OCF) Trends

Cash Flow

Qualcomm's cash, cash equivalents and both current and noncurrent marketable securities totaled approximately $10.6 billion at the end of the second quarter of fiscal 2008, compared to $11.3 billion at the end of both the first quarter of fiscal 2008 and the year ago quarter.

RECONCILIATION OF NON-GAAP CASH FLOW METRICS TO GAAP EQUIVALENTS
($ in millions)
Free Cash Flow (FCF) FY 2005 FY 2006 FY 2007 1H FY08  
Net cash provided by operations* (OCF) $2,686 $3,253 $3,811 $1,827 GAAP equivalent
Less capital expenditures (576) (685) (818) (428)  
Free Cash Flow $2,110 $2,568 $2,993 $1,399 Presented herein
 
Cash Flow/Revenues FY 2005 FY 2006 FY 2007 1H FY08  
OCF $2,686 $3,253 $3,811 $1,827  
Revenues $5,673 $7,526 $8,871 $2,606  
OCF/Revenues 47% 43% 43% 36%  
 
FCF** $2,110 $2,568 $2,993 $1,399  
FCF as a % of OCF 79% 79% 79% 77%  

*As reported in the GAAP Statement of Cash Flows.
**Refer to reconciliation of FCF to OCF (GAAP equivalent) presented above.

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Net Stock Repurchase
$1.5 billion
(Fiscal 2006)

$1.5 billion
(Fiscal 2007)

$1.7 billion
(YTD Fiscal 2008*)

*Through April 23, 2008

NASDAQ Listed: QCOM
52 Week High and Low
Market Cap
Shares Outstanding
Average Daily Trading Volume

Market Data/Split Adjusted
INITIAL PUBLIC OFFERING
December 1991		 $68 million 147.2 million shares @ $ 0.50
SUBSEQUENT OFFERING
July 1993		 $151 million 92.8 million shares @ $ 1.72
SUBSEQUENT OFFERING
August 1995		 $486 million 184 million shares @ $ 2.74
SUBSEQUENT OFFERING
July 1999		 $1.1 billion 56 million shares @ $ 19.57

Note Regarding Forward-Looking Statements: In addition to the historical information contained herein, this document contains forward-looking statements that are subject to risks and uncertainties. Actual results may differ substantially from those referred to herein due to a number of factors, including but not limited to risks associated with: the rate of development of our technologies in wireless networks and of 3G wireless communications, equipment and services, including CDMA2000 1X, 1xEV-DO, WCDMA, HSPA and OFDMA both domestically and internationally; attacks on our business model, including results of current and future litigation and arbitration proceedings as well as actions of governmental or quasi-governmental bodies, and the costs we incur in connection therewith, including potentially damaged relationships with customers and operators who may be impacted by the results of these proceedings; fluctuations in the demand for products, services or applications based on our technologies; our dependence on major customers and licensees; foreign currency fluctuations; strategic loans, investments and transactions the Company has or may pursue; our dependence on third party manufacturers and suppliers; our ability to maintain and improve operational efficiencies and profitability; the development, deployment and commercial acceptance of the MediaFLO™ USA network and FLO™ technology; as well as other risks detailed from time-to-time in the Company’s SEC reports.

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