Qualcomm Posts 3Q Profit

The cell phone chip maker posted encouraging results for the fiscal third quarter, with a positive net income and an increase in revenue.

Cell phone chip maker Qualcomm Inc. on Wednesday posted encouraging results for the fiscal third quarter, with a positive net income and an increase in revenue.

The San Diego company reported a net income of $192 million, compared with a loss of $14 million in the same quarter of 2002. Earnings per share were 23 cents, compared with a two-cent-per-share loss in the second quarter of last year.

Revenue for the quarter was $922 million, up 20 percent year-over-year.

For the future, Qualcomm officials estimated fiscal fourth-quarter results of 19 cents to 21 cents per share, comparied with 23 cents per share in the fiscal fourth quarter last year.

Qualcomm manufactures and owns the majority of patents for CDMA (code division multiple access) network processors. Sprint PCS Group and Verizon Wireless are among the U.S. carriers who operate CDMA networks. Qualcomm also markets the BREW (binary runtime environment for wireless) development platform, which competes with Java.