San Diego-based digital wireless communications company Qualcomm Inc turned in fourth-quarter revenue that rose 112% to $601.4m, while 1997 revenue grew 158% to $2.1bn. The phenomenal sales growth in the company’s CDMA-one wireless systems helped Qualcomm show quarterly and yearly earnings of $0.41 per share and $1.27 per share, besting the First Call estimates of $0.37 and $1.08, respectively. Yearly results were helped along by a one-time gain of $13.4m, or $0.14 per share, on the sale of securities. Net income nearly quadrupled to $30.1m from last year’s fourth quarter figures of $7.9m, or $0.11 per share, while net income for 1997 was $91.9m against $21m ($0.30) last year. Communications systems revenues grew nearly 125% to $482m for the quarter, while gross margin for communications systems rose from 22% to 24%. License, royalty and development fees rose to $50m, or 8% of the total. Contract service revenue rose 92% to $69m for the quarter. The company’s balance sheet shows $250m in cash.
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