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Updated:
7/26/2010 9:00:00 AM
Qualcomm Shipped More Tracking Units in 3Q, Company Says
Qualcomm Enterprise Services shipped more asset-tracking systems, and cut costs in the quarter ended June 27, parent company Qualcomm Inc. said in its latest quarterly earnings statement.
In its financial report, which covers the company’s fiscal third quarter, Qualcomm said that its QES unit posted “a $16 million increase in QES equipment and services revenues resulting primarily from higher unit shipments of our asset-tracking products.”
The company also reported “a $17 million decrease related to the development of our QES division asset-tracking products and services,” a July 21 filing with the Securities and Exchange Commission shows.
QES is part of the Qualcomm Wireless and Internet reporting segment.
QWI had pretax earnings of about $6 million in the third quarter, an improvement compared with a pretax loss of $3 million in 2009. The improvement, Qualcomm said, was due mostly to improved equipment and services results at QES, combined with “decreases in QES and QIS research and development expenses.”
QWI’s quarterly revenue improved to $162 million from $148 million in the 2009 quarter.
Qualcomm does not publish operating statistics for QES.
The parent company, which derives most of its revenue from sales of chipsets for wireless communication devices, had a net income of $767 million in the quarter, up from $737 million in 2009
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Quarterly revenue for the parent company fell to $2.7 billion from $2.75 billion in 2009.
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