QCOM FY 2008 Earnings Report — QUALCOMM Incorporated Revenue & Financial Results | Market Cap Arena

QUALCOMM IncorporatedQCOM

FY 2008 Earnings

Reported November 6, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$11.1B	—	$8.9B	—	25.6%
Op. Income	$3.7B	—	$2.9B	—	29.4%
Gross Margin	69.4%	—	69.8%	—	-0.4pp
Net Margin	28.4%	—	37.2%	—	-8.9pp
EPS (Diluted)	$1.90	—	$1.95	—	-2.6%
Free Cash Flow	$2.2B	—	$3.0B	—	-27.8%

Revenue Flow

Item	Amount
REVENUE	$11.1B
Cost of Revenue	$3.4B
GROSS PROFIT	$7.7B
R&D Expenses	$2.3B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$0
Operating Expenses	$4.0B
Cost & Expenses	$7.4B
OPERATING INCOME	$3.7B
Interest Income	$491M
Interest Expense	$22M
Other Income/Expenses	$96M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$666M
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$456M
EBIT	$3.8B
EBITDA	$4.3B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$11.1B
Cost of Revenue	$3.4B
GROSS PROFIT	$7.7B
R&D Expenses	$2.3B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$0
Operating Expenses	$4.0B
Cost & Expenses	$7.4B
OPERATING INCOME	$3.7B
Interest Income	$491M
Interest Expense	$22M
Other Income/Expenses	$96M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$666M
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$456M
EBIT	$3.8B
EBITDA	$4.3B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$3.2B
Depreciation & Amortization	$456M
Stock-Based Compensation	$541M
Deferred Income Tax	-$158M
Other Non-Cash Items	$267M
Change in Working Capital	-$708M
OPERATING CASH FLOW	$3.6B
Capital Expenditure	-$1.4B
Acquisitions (Net)	-$298M
Purchases of Investments	-$8.1B
Sales/Maturities of Investments	$6.7B
Other Investing Activities	$273M
NET CASH FROM INVESTING	-$2.8B
Net Debt Issuance	$0
Common Stock Repurchased	-$1.7B
Common Dividends Paid	-$982M
Other Financing Activities	$161M
NET CASH FROM FINANCING	-$1.3B
FREE CASH FLOW	$2.2B
Net Change in Cash	-$571M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$4.6B
Net Receivables	$4.0B
Inventory	$521M
Other Current Assets	$753M
TOTAL CURRENT ASSETS	$11.7B
PP&E (Net)	$2.2B
Goodwill	$1.5B
Intangible Assets	$3.1B
Long-Term Investments	$0
Tax Assets	$830M
Other Non-Current Assets	$5.2B
TOTAL NON-CURRENT ASSETS	$12.8B
TOTAL ASSETS	$24.6B
Account Payables	$570M
Short-Term Debt	$173M
Deferred Revenue	$394M
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$0
Deferred Revenue NC	$3.8B
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$560M
TOTAL NON-CURRENT LIABILITIES	$4.3B
TOTAL LIABILITIES	$6.6B
Common Stock	$0
Additional Paid-In Capital	$7.5B
Retained Earnings	$10.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$284M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$17.9B
Minority Interest	$0
TOTAL EQUITY	$17.9B
TOTAL LIABILITIES & EQUITY	$24.6B
Total Debt	$173M
Net Debt	-$1.7B