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QUALCOMM REPORTS 41 PERCENT REVENUE INCREASE FOR FIRST QUARTER, FISCAL 1992

 QUALCOMM REPORTS 41 PERCENT REVENUE INCREASE
 FOR FIRST QUARTER, FISCAL 1992
 SAN DIEGO, Jan. 20 /PRNewswire/ -- QUALCOMM Inc. (NASDAQ: QCOM) today reported revenues for the first quarter ended Dec. 29, 1991, of $25.2 million, an increase of 41 percent from the same quarter last year.
 The growth in revenue is primarily due to an increase of nearly 130 percent in OmniTRACS unit sales from 1,589 units in the first quarter of fiscal 1991, to 3,651 units in the first quarter of fiscal 1992. The company's OmniTRACS operations achieved a significant milestone by showing its first quarterly profit since the OmniTRACS system began commercial operation in late 1988.
 "We are very pleased with the wide acceptance of the OmniTRACS system in the trucking industry," said QUALCOMM President and Chief Executive Officer Irwin Jacobs, who noted that the company recently entered into a significant OmniTRACS contract with the C.R. England trucking firm. To date, the company has shipped over 22,000 OmniTRACS terminals.
 Net loss for the first quarter of fiscal 1992 was $1.7 million, or $.10 per share, compared to a loss of $237,000, or $.02 per share, in the first quarter ended Dec. 28, 1990. The increased loss was primarily due to an increase in the development costs for the company's CDMA technology, which included costs associated with large- scale field validation that was completed in November 1991.
 Although CDMA related revenues were down slightly from the first quarter of last year, Jacobs noted that CDMA revenues included fees from Northern Telcom, OKI Electric, Alps Electric and Sony Corp., all of which entered into agreements with the company after the first quarter of last year. Jacobs stated, "The company's efforts to commercialize its CDMA technology for cellular use are progressing extremely well. The recent action by the CTIA to initiate a standards process for wideband digital applications and the agreements with Northern Telcom, OKI, Alps and Sony symbolize growing industry support for our CDMA technology."
 Jacobs concluded by stating, "The successful completion of the company's initial public offering in December 1991 places QUALCOMM in a substantially improved financial position going into 1992." The company raised approximately $68 million of net proceeds in its first sale of common stock to the public. At Dec. 29, 1991, the company had a cash balance of $64.2 million and working capital of $62.3 million.
 QUALCOMM develops, manufactures, markets, licenses and operates advanced communications systems and products based on digital wireless technology. QUALCOMM's principal product is OmniTRACS, a satellite- based, two-way mobile communications and tracking system that provides data transmission and position reporting service for transportation companies and other mobile users. QUALCOMM's primary development program focuses on the implementation of Code Division Multiple Access (CDMA) technology for use in digital cellular telephone systems and products. The company also develops and markets a range of VLSI devices and is developing signal processing components for HDTV.
 QUALCOMM and OmniTRACS are registered trademarks of QUALCOMM Inc.
 QUALCOMM Inc.
 Financial Highlights
 (Unaudited)
 First Quarter Ended
 Dec. 29, 1991 Dec. 28, 1990
 Revenue $25,215,000 $17,851,000
 Loss before income taxes ($1,542,000) ($237,000)
 Net Loss ($1,665,000) ($237,000)
 Net Loss per common share (A) ($0.10) ($0.02)
 Shares used in per share
 calculation 16,485,087 15,004,055
 (A) Reflects conversion of preferred shares into common shares.
 -0- 1/20/92
 /CONTACT: Adelia A. Coffman of QUALCOMM Inc., 619-597-5705; or Clarence Swearngan, Jr., of McQUERTERGROUP, 619-450-0030/
 (QCOM) CO: QUALCOMM Inc. ST: California IN: CPR SU: ERN


DG -- SD002 -- 1301 01/20/92 08:50 EST
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Date:Jan 20, 1992
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