Qualcomm Tops Estimates, Says It's Comfortable with Forecasts

Updated from 5:01 p.m. ET

Qualcomm (QCOM Quote) said excluding certain items it earned 25 cents a share in its fiscal fourth quarter, topping the consensus estimate by a penny.

The most recent quarter's results included a charge of 1 cent a share relating to the company's wireless systems segment. Qualcomm said it believes paint on a "limited number" of OmniTRACS units will peel, something it's already taking steps to address.

In the year-earlier period, Qualcomm earned 24 cents a share. Revenue excluding certain items fell to $635 million in the quarter from $716 million a year earlier.

The company also said it's comfortable with the First Call/Thomson Financial consensus estimate of 28 cents a share for the fiscal first quarter, ending in December. And it's comfortable with fiscal 2001 estimate of $1.29 a share. Qualcomm expects moderate growth in the fiscal year's first half, which then will pick up in the second half.

In after-hours trading, the stock was at $68.13 a share. It finished regular trading at $62.81 a share.