Mobile chip giant Qualcomm reported a 31 percent increase in net income to achieve record results for its 2011 fiscal year. Net income for the year ending 25 September hit US$4.26 billion on the back of a 36 percent increase in total revenue to US$14.96 billion.
 
The company’s operating cashflow was US$4.90 billion, up 20 percent year-on-year, and the results yielded a dividend of US$0.81 per share.
 
The company also reported a 22 percent year-on-year increase in net income for its fourth fiscal quarter. Net income hit US$1.06 billion, 2 percent higher than the previous quarter. Revenue for the quarter was US$4.12 billion, a 39 percent year-on-year increase and 14 percent higher than the company’s fiscal Q3.
 
Qualcomm chairman and CEO Paul Jacobs said the results were driven by the “popularity of smartphones, continued adoption of 3G technologies, particularly in emerging regions, and our industry-leading patent portfolio popularity of smartphones.”
 
He added that the company’s chipset roadmap, licensing programme and global partnerships put it in a good position in terms of revenue and earnings growth in the 2012 fiscal year. “We are excited about the upcoming commercial launch of our groundbreaking Snapdragon multimode LTE solution and continue to invest in and execute on our strategic priorities to drive profitable growth,” he said.