MANHASSET, N.Y. Wireless semiconductor supplier Qualcomm Inc. reported net earnings of $620 million, or 36 cents per share on sales of $1.74 billion in its first fiscal 2006 quarter ended Dec. 25, 2005.
Both sales and GAAP net earnings posted double-digit gains sequentially and year-over-year as the company reported strong demand for its chips.
Qualcomm (San Diego) fell slightly short of First Call analyst estimates calling for sales of $1.75 billion, though its pro-forma earnings of 39 cents per share beat guidance of 38 cents.
Total cash, cash equivalents, and marketable securities totaled $9.4 billion at the quarter’s end, up from $8.7 billion the previous quarter and $8.0 billion a year ago.
Qualcomm reported CDMA/WCDMA subscriber unit shipments of 52 million, with an average selling price of $215.
For its second fiscal 2006 quarter ending in March, Qualcomm projected sales of $1.63 to $1.73 billion, with earnings of 35 to 37 cents per share. CDMA/WCDMA handset shipments are projected at 59 million to 61 million.