"We are very contented to occasion our budgetary third compassion guidance, reflecting the basic worldwide cry out for for wireless broadband powered by 3G CDMA," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm.
"Our increased direction reflects stronger than expected want for more data-capable chipsets and increased licensing revenues driven in area by advanced 3G network upgrades. While some chipset marketability for developing markets has shifted to the fourth economic division and claim remains broadly strong, due to the latest solvent conditions we tarry cautious and currently reckon a modest sequential easing in chipset shipments." The economic crisis has had, and may continue to have, an weight on the value of our marketable securities and bring in investment income (loss). While we do not prediction impairments, we do have unrealized losses on marketable securities that could be recognized in the third neighbourhood of monetary 2009 and prospective periods if market conditions do not improve. Given the Stock Exchange volatility and the significant judgments involved, accurately forecasting other-than-temporary impairments associated with our marketable securities is damned baffling and verifiable results could remodel materially.
As a result, while we are providing revenue, operating takings and our other gonfalon guidance, we are not providing revenue per share guidance. Moreover, our opinion does not include provisions for the consequences of injunctions, damages, or fines coordinate to any in abeyance legal matters. In addition, due to their nature, permanent return and expense items, such as realized investment gains or losses, gains and losses on dependable development instruments or strength impairments, cannot be accurately forecast.
Accordingly, we get rid of forecasts of such items from our area outlook, and actual results may reorganize materially from the business prospect if we incur any such income or expense items. Qualcomm Incorporated (www.qualcomm.com) is a bandmaster in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 100 Index, the S&P 500 Index and is a 2009 FORTUNE 500(R) company.
For more information, interest by www.qualcomm.com. Note Regarding Use of Non-GAAP Financial Measures The Company presents pro forma pecuniary bumf that is utilized by directorship (i) to evaluate, assess and benchmark the Company's operating results on a steadfast and comparable basis, (ii) to allotment the engagement and expertise of the Company's ceaseless quintessence operating businesses, including the Qualcomm CDMA Technologies, Qualcomm Technology Licensing and Qualcomm Wireless & Internet segments and (iii) to analogy the gig and proficiency of these segments against each other and against competitors furthest the Company. Pro forma measurements of the following fiscal figures are Euphemistic pre-owned by the Company's management: revenues, R&D expenses, SG&A expenses, compute operating expenses, operating income, lattice-work investment profit (loss), gain before receipts taxes, conspicuous onus rate, pocket revenue (loss), diluted proceeds (loss) per share, operating lolly roll and accessible money flow.
Management is able to assess what it believes is a more important and comparable set of financial deportment measures for the Company and its business segments by using pro forma information. As a result, governance compensation decisions and the procession of top dog compensation by the Compensation Committee of the Board of Directors convergence first of all on pro forma monetary measures applicable to the Company and its work segments. Pro forma poop used by management excludes the QSI segment, established estimated share-based compensation, assured tax items common to prior years and acquired in-process R&D. The QSI element is excluded because the Company expects to take its cardinal investments at various times, and the clobber of fluctuations in the value of such investments are viewed by manipulation as unrelated to the Company's operational performance.
Estimated share-based compensation, other than amounts linked to share-based awards granted under a reward program that may issue in the issuance of unrestricted shares of the Company's universal stock, is excluded because superintendence views such share-based compensation as uncoordinated to the Company's operational performance. Moreover, it is on the whole not an detriment that requires or will lack cash payment by the Company. Further, share-based compensation cognate to options is artificial by factors that are topic to change, including the Company's store price, stock market volatility, expected election life, risk-free excite rates and expected dividend payouts in to be to come years. Certain tariff items related to late years are excluded in order to provender a clearer understanding of the Company's successive pro forma tax merit and after tax earnings.
The Company marked to include the benefit of the retroactive adjunct of the federal research and growth tax credit in pro forma results starting in financial 2009 because it recurs with applicable frequency and would have been included in the Company's pro forma results for the ex year if it had been reenacted in the one-time pecuniary year. Acquired in-process R&D is excluded because such sacrifice is viewed by directorate as unrelated to the operating activities of the Company's progressing core businesses. The non-GAAP pro forma financial advice presented herein should be considered in combining to, not as a stand-by for, or higher-ranking to, financial measures fit in accordance with GAAP.
In addition, "pro forma" is not a nickname defined by GAAP, and, as a result, the Company's bar of pro forma results might be new than similarly titled measures hand-me-down by other companies. Reconciliations between GAAP results and pro forma results are presented herein. Note Regarding Forward-Looking Statements In ell to the recorded news contained herein, this word manumit contains forward-looking statements that are testee to risks and uncertainties. Actual results may be at variance in truth from those referred to herein due to a bunch of factors, including but not small to risks associated with: the grade of deployment of our technologies in wireless networks and of 3G wireless communications, materiel and services, including CDMA2000 1X, 1xEV-DO, WCDMA, HSPA and OFDMA both domestically and internationally; the simultaneous uncertainty of wide-ranging fiscal conditions and its concealed strike on demand for our products, services or applications and the value of our marketable securities; attacks on our corporation model, including results of drift and unborn lawsuit and arbitration proceedings, as well as actions of governmental or quasi-governmental bodies, and the costs we invite in consistency therewith, including potentially damaged relationships with customers and operators who may be impacted by the results of these proceedings; our dependence on outstanding customers and licensees; transatlantic currency fluctuations; vital loans, investments and transactions the Company has or may pursue; our dependence on third-party manufacturers and suppliers; our know-how to justify and recuperate operational efficiencies and profitability; the development, deployment and commercial acceptance of the FLO TV(TM) network and FLO(TM) technology; as well as the other risks complete from time-to-time in the Company's SEC reports.
Qualcomm is a registered trademark of Qualcomm Incorporated. Mobile Station Modem, MSM, FLO and FLO TV are trademarks of Qualcomm Incorporated. CDMA2000 is a registered trademark of the Telecommunications Industry Association (TIA USA). All other trademarks are the peculiarity of their several owners.
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