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Qualcomm Inc QCOM
Q1 2013 Earnings Call Transcript

Transcript Call Date 01/30/2013

Operator: Ladies and gentlemen, thank you for standing by. Welcome to the QUALCOMM First Quarter Fiscal 2013 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. As a reminder, this conference is being recorded January 30, 2013. The playback number for today's call is 855-859-2056. International callers please dial 404-537-3406. The playback reservation number is 85067601.

I would now like to turn the call over to Warren Kneeshaw, Vice President of Investor Relations. Mr. Kneeshaw, please go ahead.

Warren Kneeshaw - VP, IR: Thank you, Ryan, and good afternoon, everyone. Today's call will include prepared remarks by Dr. Paul Jacobs, Steve Mollenkopf, and Bill Keitel. In addition, Derek Aberle, and Don Rosenberg and will join the question-and-answer session. An Internet presentation and audio broadcast accompanying this call and you can access them by visiting our website at www.qualcomm.com.

During this conference call, if we use any non-GAAP financial measures as defined in Regulation G, you can find the related reconciliations to GAAP on our website. I'd also like to direct you to our 10-Q and earnings release, which were filed and furnished respectively, with the SEC today and are available on our website.

During this conference call, we will make forward-looking statements regarding future events or results of the Company. Actual events or results could differ materially from those projected in these forward-looking statements. Please refer to our SEC filings, including our most recent Form 10-K and 10-Q, which contain important factors that could cause actual results to differ materially from the forward-looking statements.

Now, it is my pleasure to introduce QUALCOMM's Chairman and Chief Executive Officer, Dr. Paul Jacobs.

Dr. Paul E. Jacobs - Chairman and CEO: Thanks Warren, and good afternoon, everyone. We're obviously off to an excellent start in fiscal 2013 and pleased to report a record quarter driven by strong year-over-year growth in both our QCT and QTL businesses.

Revenues were up 29% and non-GAAP earnings per share were up 30% compared to a year ago. In QCT we delivered record chipset volumes which included eliminating the constrain on 28 nanometer devices as we had expected.

In addition QCT continues to drive technology and product leadership as we announced the new QUALCOMM Snapdrago 800 and 600 processors. Featuring ultra-high definition video playback and capture and our latest generation microarchitecture with clock speed up to 2.3 gigahertz per core the 800 processor is class leading and we continue to set the bar for the smartphone user experience.

Turning to QTL, our licensees reported stronger than expected total reported device sales, as the broad-based adoption of 3G and 3G/4G products continues, driven by strength in smartphones. We continue to invest and innovate across a broad set of technologies, and believe that our patent portfolio applicable to 3G and 4G products is the most widely licensed in the industry. In fact, we have now over 225 CDMA licensees and more than 40 royalty-bearing single mode OFDMA licensees.

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