The art of taxation consists in so plucking the goose as to get the most feathers with the least hissing - Jeane Baptiste Colbert
CHIP DESIGNER Qualcomm announced impressive profits for its 2012 fiscal fourth quarter, with revenue and profits surging in the quarter while full year figures show a 43 percent increase in profits.
Qualcomm has managed to build on its success in the smartphone and telecoms infrastructure markets with a number of lucrative contracts, resulting in cash rolling in. The firm's fourth quarter results showed revenue of $4.87bn, an increase of 18 percent from the same quarter last year while quarterly profits rose by 20 percent to $1.27bn.
Qualcomm did well throughout its financial year, with full year revenue up by 28 percent to $19.12bn and profits up by an impressive 43 percent to $6.11bn. Given that the firm had to deal with chip shortages thanks to TSMC's 28nm process node, it could well have turned out even better.
Indeed, Qualcomm forecast first quarter 2013 revenues to increase by 20 to 30 percent while full year 2013 revenues are expected to grow between 20 and 26 percent.
Paul Jacobs, chairman and CEO of Qualcomm said, "I am very pleased with our performance this year. We delivered record revenues, earnings and MSM chipset shipments driven by increasing global consumption of wireless data across a diverse range of devices, particularly smartphones. As we continue to invest in and execute on our strategic priorities, our broad licensing program and industry-leading Snapdragon and 3G/LTE chipset roadmap position us for double-digit revenue growth again in fiscal 2013."
Qualcomm is also said to be preparing to enter the burgeoning ARM server market. While 2013 is not expected to be more than a preparatory year for ARM's datacentre debut, Qualcomm's war chest of more than $26bn means it is arguably the best positioned ARM licensee to make a splash in 2014. In the meantime, the firm has more than enough royalties coming in from 3G patents to keep its cash register ringing. µ
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