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QUALCOMM REPORTS 22 PERCENT REVENUE INCREASE FOR THIRD QUARTER, FISCAL 1992

 QUALCOMM REPORTS 22 PERCENT REVENUE INCREASE
 FOR THIRD QUARTER, FISCAL 1992
 SAN DIEGO, July 20 /PRNewswire/ -- QUALCOMM Inc. (NASDAQ-NMS: QCOM) today reported revenues for the third quarter ended June 28, 1992, of $27.1 million, an increase of 22 percent from the same quarter last year. For the first nine months of fiscal 1992, revenues were $78.5 million, an increase of 29 percent from the first nine months of fiscal 1991.
 The growth in revenues is primarily due to an increase of nearly 88 percent in OmniTRACS(R) unit sales from 1,946 units in the third quarter of fiscal 1991 to 3,651 units in the third quarter of fiscal 1992. "OmniTRACS achieved its fourth consecutive quarter of profitability and continues to experience steady growth," said QUALCOMM President Harvey White. "Its large customer base is now producing a significant amount of monthly messaging revenue," he pointed out. Since its introduction in late 1988, the company has shipped more than 29,000 OmniTRACS terminals.
 Net loss for the third quarter of fiscal 1992 was $0.6 million, or $.03 per share, compared to a loss of $0.9 million, or $.06 per share, in the third quarter ended June 30, 1991. The improvement in the third quarter of fiscal 1992 is primarily due to increased earnings from OmniTRACS. Net loss for the first nine months of fiscal 1992 was $3.5 million, or $.18 per share, compared to a loss of $1.7 million, or $.11 per share, in the first nine months of fiscal 1991. The increased loss for the first nine months of fiscal 1992 is primarily due to lower Code Division Multiple Access (CDMA) license and development fees and increased research and development costs. As anticipated, the receipt of CDMA license fees slowed in the first three quarters of fiscal 1992 as the company's CDMA technology has proceeded through industry standardization. The company anticipates that it may not receive significant license and development fees until the standardization process is completed.
 An important milestone was reached in the standardization of CDMA technology during the third quarter. The Cellular Telecommunications Industry Association (CTIA) voted unanimously to ask the Telecommunications Industry Association (TIA), which began preparation for the standardization process earlier this year, to expedite development of a CDMA standard for digital cellular communications in North America.
 "We believe the CTIA decision and the TIA's actions represent strong industry support for CDMA technology, and will provide for greater acceptance of CDMA technology by cellular equipment manufacturers," commented Irwin M. Jacobs, chief executive officer. "We are hopeful that the standardization process can be substantially completed by year end. In fact, we are now gearing up our capability to support the anticipated industry demand for CDMA equipment."
 Successful test programs and demonstrations of the CDMA technology have been completed in San Diego, New York, Washington, D.C., the Federal Republic of Germany and Switzerland. In addition, the company's CDMA technology will be used in tests for Personal Communications Services (PCS) in the Washington, D.C./Baltimore area later this year.
 In other developments, the company announced last week that another leading manufacturer, Mitsubishi Electric Corp., has signed a subscriber support agreement for CDMA digital cellular technology. Mitsubishi joins numerous other manufacturers, including AT&T, Northern Telecom, Motorola, OKI Electric, Nokia, Sony, Alps Electric, Matsushita and Clarion, who have signed CDMA agreements with QUALCOMM.
 QUALCOMM Inc. develops, manufactures, markets, licenses and operates advanced communications systems and products based on digital wireless technology. QUALCOMM's principal product is the OmniTRACS(R) system, a satellite-based, two-way mobile communications and tracking system that provides data transmission and position reporting services for transportation companies and other mobile users in North America and Europe. QUALCOMM is developing, manufacturing and licensing Code Division Multiple Access (CDMA) technology for use in digital wireless telephone systems and products. The company also offers a range of VLSI devices for use in commercial and government applications and signal processing components for HDTV. In addition, the company develops and manufactures communications products for the government and has formed a joint venture to launch a system of low Earth orbit (LEO) satellites for worldwide communications.
 QUALCOMM INC.
 Financial Highlights
 (Unaudited)
 Third quarter ended
 June 28, June 30,
 1992 1991
 Revenue $27,088,000 $22,241,000
 Loss before income taxes ($529,000) ($904,000)
 Net loss ($607,000) ($904,000)
 Net loss
 per common share(A) ($0.03) ($0.06)
 Shares used in
 per share calculation 21,134,000 15,653,000
 Nine months ended
 June 28, June 30,
 1992 1991
 Revenue $78,488,000 $60,920,000
 Loss before income taxes ($3,313,000) ($1,688,000)
 Net loss ($3,515,000) ($1,688,000)
 Net loss
 per common share(A) ($0.18) ($0.11)
 Shares used in
 per share calculation 19,716,000 15,621,000
 (A) Reflects conversion of preferred shares into common shares.
 -0- 7/20/92
 /EDITOR'S NOTE: OmniTRACS is a registered trademark of QUALCOMM Inc./
 /CONTACT: Adelia A. Coffman of QUALCOMM, 619-597-5146; or Clarence Swearngan Jr. of McQuerter Group, 619-450-0030, for QUALCOMM/
 (QCOM) CO: QUALCOMM Inc. ST: California IN: TLS SU: ERN


AL-JL -- SD004 -- 0544 07/20/92 08:01 EDT
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Date:Jul 20, 1992
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