Qualcomm's Q4 includes 84% jump in net income

Qualcomm posted a strong fourth quarter as net income rose 84 percent, which is more than the company forecasted in September. Year-on-year revenue growth also enjoyed a 15 percent raise to $2.31 billion, up from $2 billion last year. Qualcomm reported Q4 earnings of $1.13 billion, or 67 cents a share, up from $614 million, or 36 cents a share during the same period last year. Legal fees during the entire fiscal year topped $200 million, thanks to lawsuits and patenting disputes with rivals Broadcom and Nokia, among others. During the company's quarterly conference call, Qualcomm CEO Steve Altman said no progress [1] has been made with either Nokia or Broadcom over the disputes.

Despite the rosy picture for Qualcomm's most recent quarter, the company's stock has suffered from a less than bullish outlook for the year ahead. For the 2008 fiscal year Qualcomm expects earnings between $2.03 and $2.09, below analysts' expected forecast of $2.18. Qualcomm excluded royalty payments from Nokia when it put its estimate together.

For more on Qualcomm's financial outlook:
- read this press release [2]