Wireless technology and service provider Qualcomm Inc. reported a higher profit for both its fiscal fourth quarter and fiscal year.
Net income for the quarter ended Sept. 30 rose to $1.27 billion, or 73 cents per share, from $1.06 million or 62 cents, a year ago. Revenue rose 18% to $4.87 billion.
For fiscal 2012, Qualcomm’s earnings rose to $6.11 billion, or $3.51 per share, from $4.26 billion, or $2.52. Revenue climbed 28% to $19.12 billion.
The company’s Qualcomm Enterprise Services division, which supplies in-cab communications technology systems to the trucking industry, is part of the company’s Qualcomm Wireless & Internet segment.
Qualcomm said revenues at the QWI segment slipped 1% in the fourth quarter to $161 million. For the full year, segment revenues declined 4% to $633 million.
QWI reported a loss of $1 million before taxes in the fourth quarter compared with a pre-tax loss of $5 million a year earlier.
For the fiscal year, QWI’s loss before taxes was $15 million, compared with a pre-tax loss of $152 million in 2011.
Qualcomm, San Diego, said it projects total revenue in fiscal 2013 to be in the range of $23 billion to $24 billion, which would represent a year-over-year increase of 20% to26%.
The company said it expects earnings per share for next year to be between $3.40 and $3.60 per share.
