QUALCOMM REPORTS FIRST QUARTER RESULTS - REVENUES $941 MILLION, $.65 EPS - SAN DIEGO, Jan. 19 /PRNewswire-AsiaNet/ -- QUALCOMM Incorporated (Nasdaq:QCOM) today reported the highest quarterly revenues in its 13-year history.Revenues were $941 million for the first quarter of fiscal 1999, an increaseof 20 percent over the first quarter of fiscal 1998. Communications systemsrevenues in the first quarter of fiscal 1999 were $817 million compared to$677 million in the first quarter of fiscal 1998, with strong sales of CodeDivision Multiple Access (CDMA) phones, Application Specific IntegratedCircuits (ASICs), Globalstar Gateways and OmniTRACS units. Net income for the first quarter was $49 million compared to $37 millionfor the first quarter of fiscal 1998, a 32 percent increase. Earnings pershare for the first quarter of fiscal 1999 were $.65 per share (diluted)compared with $.50 per share (diluted) for the first quarter of fiscal 1998. 1999 1998 Change Dollars in thousands except per share data 1st Qtr 1st Qtr % Revenue $941,223 $785,854 20% Gross Profit $298,833 $232,239 29% Gross Profit % 32% 30% -- Operating Profit $77,948 $52,895 47% Operating Profit % 8% 7% -- Earnings Before Taxes $71,584 $56,557 27% Net Income $48,530 $36,762 32% EPS (Diluted) $0.65 $0.50 30% QUALCOMM Incorporated (Nasdaq: QCOM) is a leader in developing anddelivering innovative digital wireless communications products and servicesbased on the Company's CDMA digital technology. The Company's major businessareas include CDMA phones; Application Specific Integrated Circuits (ASICs);wireless infrastructure; technology licensing; and satellite-based systemsincluding OmniTRACS(R) and portions of the Globalstar(TM) system. QUALCOMM isheadquartered in San Diego, Calif. QUALCOMM's fiscal 1998 revenues exceededU.S. $3 billion. For more information, please visit the Company's web site at(http://www.qualcomm.com). Except for the historical information contained herein, this news releasecontains forward-looking statements that are subject to risks anduncertainties. Actual results may differ substantially from those referred toherein due to a number of factors, including but not limited to the risk thatthe rate of growth in the CDMA subscriber population will decrease, the risksassociated with the scale-up and operations of CDMA systems, developments incurrent or future litigation, risks associated with vendor financing, timingand receipt of license fees and royalties, and changes in economic conditionsof the various markets the Company serves, as well as the other risks detailedfrom time to time in the Company's SEC reports. SOURCE QUALCOMM Incorporated CONTACT: Julie Cunningham, Vice President, Investor Relations, of QUALCOMM Incorporated, 619-658-4224 or fax: 619-651-9303, [email protected] Web site: http://www.qualcomm.com